Backlog Orders Reach Record High as Northrop Grumman Raises Full-Year Guidance

Golden Ten Data July 22｜Defense contractor Northrop Grumman raised its full-year guidance as strong orders in the second quarter pushed its backlog to a record high of $104.69 billion. The company now expects its 2026 revenue to be between $43.75 billion and $44.25 billion, higher than the previous forecast of $43.5 billion to $44 billion; adjusted earnings per share are expected to be between $28.6 and $29.1, previously forecast at $27.4 to $27.9. According to FactSet's survey, the market consensus is for full-year revenue of $44 billion and adjusted earnings per share of $27.94. CEO Kathy Warden said on the earnings call that orders are expected to remain strong for the rest of this year, and the momentum of government spending will also increase, giving the company greater confidence in accelerating sales growth for the second half of the year.