Northrop Grumman's Strong Growth and Profit Expectations
Northrop Grumman reported a 9% increase in sales for the third quarter of 2023, reaching nearly $9.8 billion, with growth in all four sectors. The company also announced a record-high backlog of $84 billion and highlighted its $705 million Air Force contract to build a stand-in attack weapon for the F-35. Northrop Grumman expects to receive a low-rate initial production contract for the B-21 Raider stealth bomber by the end of 2023, but anticipates zero profitability initially. The first flight of the B-21 is expected by the end of this year.