Northrop Grumman (NOC) Q3 2026 Earnings Call: Guidance and Outlook
The company provided updated full-year 2026 guidance and an initial outlook for 2027. The outlook reflects expectations for continued sales growth and margin expansion.
About Northrop Grumman. Northrop Grumman Corporation is a leading global player in the aerospace and defense sectors. Its Aeronautics Systems division is responsible for the full lifecycle of aircraft, from design and development to production, integration, and ongoing maintenance.
No specific quarterly guidance was provided, though management noted they expect higher fourth-quarter sales driven by production throughput and seasonality.
Annual guidance
Sales
$43.75 billion to $44.25 billion
Segment operating income
$4.94 billion to $5.04 billion
Adjusted free cash flow
$3.1 billion to $3.5 billion
Outlook
2027 Sales Growth
Projected between 5% and 7%, with higher sales expected in all four segments.
2027 CapEx
Projected at approximately $2.1 billion to support infrastructure for key programs.
2027 Adjusted Free Cash Flow
Expected in the range of $3.3 billion to $3.7 billion.
Long-term Growth
Management expects growth to accelerate beyond 2027 with margin expansion of 10 to 20 basis points beyond the 2026 guidance midpoint.
International Sales
The company aims to double international sales by 2031, supported by strong global demand.
Microelectronics
The company is evaluating strategic alternatives for its microelectronics foundry business to maximize shareholder value.
Dombey's summary of the Northrop Grumman Q3 2026 earnings call held Oct 20, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
