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Northrop Grumman Q3 profit climbs 5.0% YOY

Northrop Grumman Corp. said its normalized net income for the third quarter amounted to $2.42 per share, compared with the S&P Capital IQ consensus estimate of $2.19 per share.

EPS increased 17.0% year over year from $2.07.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $455.6 million, an increase of 5.0% from $433.8 million in the prior-year period.

The normalized profit margin rose to 7.6% from 7.2% in the year-earlier period.

Total revenue came to $5.98 billion, compared with $5.98 billion in the prior-year period, and total operating expenses came to $5.18 billion, compared with $5.21 billion in the prior-year period.

Reported net income increased 9.3% on an annual basis to $516.7 million, or $2.75 per share, from $472.8 million, or $2.26 per share.