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Northrop Grumman beats Street 4Q forecasts

Northrop Grumman Unmanned MQ-8C Fire Scout
Source: Northrop Grumman
Northrop Grumman Unmanned MQ-8C Fire Scout

Northrop Grumman on Thursday reported fourth-quarter earnings of $506 million.

On a per-share basis, the Falls Church, Virginia-based company said it had profit of $2.48. Earnings, adjusted for non-recurring gains, came to $2.26 per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.

The defense contractor posted revenue of $6.11 billion in the period, also topping Street forecasts. Analysts expected $5.99 billion, according to Zacks.

For the year, the company reported profit of $2.07 billion, or $9.75 per share. Revenue was reported as $23.98 billion.

Northrop Grumman expects full-year earnings to be $9.20 to $9.50 per share, with revenue in the range of $23.4 billion to $23.8 billion.

Northrop Grumman shares have climbed 3 percent since the beginning of the year, while the Standard & Poor's 500 index has declined nearly 3 percent. The stock has increased 36 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NOC at http://www.zacks.com/ap/NOC.