Northrop Grumman gains after raising annual profit forecast on strong defense demand

Northrop Grumman

Tue 11:32

** Northrop Grumman's NOC.N shares rise nearly ~2% to $520 premarket
** Co raises annual profit forecast after strong demand for military aircraft, missiles and defense programs boosts Q3 results and pushes backlog to a record high
** Expects full-year 2026 adjusted profit per share in the range of $29.35 to $29.75, compared with its prior forecast of $28.60 to $29.10
** Quarterly sales rise 7% from a year ago to $11.12 billion on higher sales across all four sectors
** Quarterly profit rises ~2% to $1.12 billion, or $7.89 per share, from $1.10 billion, or $7.67 per share, a year ago
** Median PT of 27 brokerages covering the stock is $616 - data compiled by LSEG
** As of last close, stock down ~11% YTD 

(Reporting by Megavarshini G. Somasundaram in Bengaluru)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))