$NOC (Northrop Grumman Corporation)

$NOC {{ '2016-04-27T16:51:14+0000' | timeago}} • Webcast

Seth Seifman of JPMorgan asks an update about dividend. $NOC CFO Ken Bedingfield replies that historically the company reviews its dividend at its May Board meeting. He added that $NOC had a history of dividend increases for a number of years and the company will consider that between now and the Board meeting in May.

$NOC {{ '2017-11-16T12:34:48+0000' | timeago}} • Announcement

$NOC declared a quarterly dividend of $1.00 per share on Northrop Grumman common stock, payable Dec. 20, 2017, to shareholders of record as of the close of business Dec. 4, 2017.

$OA {{ '2017-10-27T17:55:54+0000' | timeago}} • Webcast

With regard to $OA acquisition, $NOC estimates about $150MM of annual cost savings by 2020 and it has modeled some cost that will be incurred in order to get there. The company said it would look to find some additional operational synergies that certainly would work to make sure that those drive cost savings as well.

$NOC {{ '2017-10-27T17:51:19+0000' | timeago}} • Webcast

$NOC lifted 2017 Aerospace System sales forecast to $11.7-11.8Bil from $11.5-11.7Bil, its Mission Systems revenue outlook to $11.2-11.3Bil from $11.1-11.3Bil and Technology Services sales estimate to about $4.7Bil from $4.5-4.7Bil. The company raised 2017 net FAS/CAS adjustment to about $585MM from $500MM.

$NOC {{ '2017-10-27T17:51:07+0000' | timeago}} • Webcast

During 3Q17, $NOC paused its share repurchases as it was considering the $OA acquisition. Year-to-date, $NOC has spent $393MM to repurchase about 1.6MM shares. $2.3Bil remains on its current share repurchase authorization. The company said returning cash to shareholders through a competitive dividend and share repurchases remains a priority.

$NOC {{ '2017-10-25T12:59:56+0000' | timeago}} • Infographic

$NOC Northrop Grumman Corp. Earnings AlphaGraphic: Q3 2017 Highlights

$NOC {{ '2017-10-25T11:33:07+0000' | timeago}} • Announcement

$NOC lifted 2017 sales outlook to about $25.5Bil from low $25Bil and its EPS guidance to $12.90-13.10 from $12.10-12.40. The company also raised its operating margin estimate to about 13% from mid-to-high 12%, while lowering its effective tax rate forecast to about 24.5% from about 27.5%. $NOC still sees capital expenditures of about $900MM.

$NOC {{ '2017-10-25T11:29:14+0000' | timeago}} • Announcement

$NOC's sales from Technology Services for 3Q17 declined 1% to $1.18Bil from last year. This is primarily due to lower volume for System Modernization and Services, partially offset by higher intercompany volume on restricted programs in Global Logistics and Modernization.

$NOC {{ '2017-10-25T11:27:49+0000' | timeago}} • Announcement

$NOC's sales from Mission Systems for 3Q17 increased 5% to $2.84Bil from last year. This is primarily due to higher volume for Sensors and Processing and Advanced Capabilities programs, principally on higher volume on electro-optical/infrared self-protection and targeting programs, F-35 sensors and the scalable agile beam radar (SABR) program.

$NOC {{ '2017-10-25T11:25:22+0000' | timeago}} • Announcement

$NOC's sales from Aerospace Systems for 3Q17 increased 11% to $3.08Bil from last year. This is primarily due to higher volume on Manned Aircraft and Space programs. The Manned Aircraft sales rise is primarily due to higher restricted volume as well as higher F/A-18 unit volume than last year. The Space sales rise includes higher restricted volume.

$NOC {{ '2017-10-25T11:22:18+0000' | timeago}} • Announcement

$NOC's effective tax rate for 3Q17 declined to 17.8% from 21.7% last year. The lower tax rate reflects a $45MM increase in research credits related to the current period and the filing of its 2016 tax return, and a $35MM benefit recognized for additional manufacturing deductions related to prior years.

$NOC {{ '2017-10-25T11:20:07+0000' | timeago}} • Announcement

$NOC reported a 7% growth in 3Q17 earnings driven by higher net FAS/CAS pension adjustment and segment operating income. Net income rose to $645MM or $3.68 per share from $602MM or $3.35 per share last year. Sales grew 6% to $6.5Bil, on a 11% increase at Aerospace Systems.

$NOC {{ '2017-10-11T12:24:30+0000' | timeago}} • Announcement

$NOC has priced a $8.25Bil underwritten public offering of senior unsecured notes. The company intends to use the net proceeds of the offering, together with cash on hand, to finance its previously announced acquisition of $OA. The offering is expected to close on Oct. 13, 2017

$NOC {{ '2017-09-26T22:40:30+0000' | timeago}} • Announcement

$NOC's BoD has named Mark A. Caylor as Corporate VP & President, Mission Systems. Shawn N. Purvis has been named Corporate VP & President, Enterprise Services and Lesley A. Kalan has been named Corporate VP, Government Relations. Caylor, Purvis and Kalan will assume their new roles on Jan. 1, 2018.

$NOC {{ '2017-09-26T22:40:11+0000' | timeago}} • Announcement

$NOC said Gloria A. Flach, COO, and Sid Ashworth, Corporate VP, Government Relations will retire, effective Dec. 31, 2017. The BoD has elected Kathy J. Warden President & COO, effective Jan. 1, 2018.

$NOC {{ '2017-09-18T11:47:52+0000' | timeago}} • Announcement

$NOC has signed an agreement to buy aerospace company $OA for $7.8Bil in cash, plus the assumption of $1.4Bil in debt. Orbital shareholders will get all-cash consideration of $134.50 per share. The transaction, which is expected to close in 1Q18, will be accretive to earnings in first full year, and generate annual cost savings of $150MM by 2020.

$BA {{ '2017-08-22T14:27:56+0000' | timeago}} • Announcement

The US Air Force has awarded $BA to work on the preliminary design for replacing the Minuteman III intercontinental ballistic missile (ICBM). This is a 3-year contract worth $349MM. $NOC also got a separate contract worth $328MM. Development contract will be awarded to one company in 2020. US Air Force has estimated the total cost to be $62Bil.

$NOC {{ '2017-08-17T13:05:17+0000' | timeago}} • Announcement

$NOC's BoD declared a quarterly dividend of $1.00 per share on its common stock. The dividend is payable on Sept. 13, 2017, to shareholders of record as of the close of business Aug. 28, 2017.

$OA {{ '2017-05-30T12:48:24+0000' | timeago}} • Announcement

$OA has received an initial $90MM contract from $NOC to produce composite components for the B-2 Spirit stealth bomber with an option for follow-on orders. The contract is valid for five years.

$NOC {{ '2017-05-17T11:35:06+0000' | timeago}} • Announcement

The BoD of $NOC declared a quarterly dividend of $1 per share on Northrop Grumman common stock, a 11% increase from the prior quarterly dividend of $0.90 per share. The dividend is payable June 21, 2017, to shareholders as of June 5, 2017.

$EMR {{ '2017-05-02T21:24:19+0000' | timeago}} • Webcast

$EMR elected Gloria Flach, corporate VO and COO of $NOC, to its BoD. Flach will serve on the board's compensation committee and finance committee.

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