诺斯罗普·格鲁曼公司（NYSE:NOC）报告称，第四季度销售额为106.86亿美元，同比持平，未达到市场预期的110.1亿美元。 调整后的每股收益为6.39美元，高于市场预期的6.35美元。 各部门销售额：航空系统32.2亿美元（同比增加11%），防御系统23.3亿美元（同比增加5%），任务系统31.44亿美元（同比增加3%），太空系统27.1亿美元（同比下降13%）。 太空系统销售额下降是由于受限空间和NGI项目收尾带来的2.31亿美元减少所致。 该季度的部门营业收入为11.93亿美元，较去年同期的亏损3.83亿美元有所恢复。 利润率提高至11.2%，而去年同期为-3.6%。 总营业利润率扩大到10.2%，较2023年第四季度的-3.7%有所上升。 诺斯罗普·格鲁曼公司第四季度净订单总额为173亿美元，积压订单达到915亿美元。 运营现金流增加了6%，自由现金流增加了8%，得益于营运资金的改善。 2024年全年的运营现金流增长了13%，自由现金流增长了25%，受到税收减少和收益增加的支持。 董事长、首席执行官兼总裁凯西·瓦登表示：“我们的财务业绩和新的纪录积压订单反映了我们产品的相关性和我们工作的重要性。在过去的五年里，我们的销售额有机增长了30%，2024年我们的自由现金流增长了25%。我们的指引预期持续的顶线增长、利润率扩展和两位数的现金流增长。” 2025财年展望： 诺斯罗普·格鲁曼现在预计销售额在420亿到425亿美元之间，低于市场预期的428亿美元。 公司预测调整后的每股收益为27.85-28.25美元，而市场预期为28.05美元。 公司预计2025年部门营业收入为46.5亿至48亿美元，调整后的自由现金流为28.5亿至32.5亿美元。 2025年，航空系统预计销售额在130亿美元低位，防御系统预计销售额在80亿美元低位，任务系统预计销售额约为120亿美元，太空系统预计销售额约为110亿美元。内部消除预计约为-21亿美元。 NOC股票在周四的最后检查中下跌了1.43%，至474.63美元。

以上内容来自Benzinga Earnings专栏，原文如下：

Northrop Grumman Corp (NYSE:NOC) reported fourth-quarter sales that were flat year over year at $10.686 billion, missing the consensus of $11.01 billion.

MTM-adjusted earnings per share were $6.39, beating the consensus of $6.35.

Sales by segments: Aeronautics Systems $3.22 billion (+11% Y/Y), Defense Systems $2.33 billion (+5% Y/Y), Mission Systems $3.144 billion (+3% Y/Y), and Space Systems $2.71 billion (-13% Y/Y).

The decline in Space Systems sales was driven by a $231 million decrease due to restricted space and NGI program wind-downs.

Segment operating income for the quarter was $1.193 billion, recovering from an operating loss of $383 million a year ago. The margin improved to 11.2%, up from (3.6%) a year ago.

Total operating margin expanded to 10.2%, compared to (3.7%) in the fourth quarter of 2023. NOC's fourth-quarter net awards totaled $17.3 billion, and its backlog reached $91.5 billion.

Operating cash flow rose by 6%, and free cash flow grew by 8%, driven by improved working capital. Full-year 2024 operating cash flow increased by 13%, with free cash flow up by 25%, supported by lower tax payments and higher earnings.

"Our financial results and new record backlog reflect the relevance of our products and the importance of our work. Over the last five years our sales have grown 30% organically and our free cash flow expanded 25% in 2024. Our guidance anticipates continued top line growth, margin expansion, and double digit cash flow growth," said Kathy Warden, chair, chief executive officer, and president.

Fiscal 2025 Outlook: Northrop Grumman now expects sales of $42 billion-$42.5 billion versus the consensus of $42.80 billion.

The company sees MTM-adjusted EPS of $27.85 — $28.25 versus consensus of $28.05.

It sees Segment operating income of $4.65 billion—$4.800 billion and adjusted free cash flow of $2.85 billion—$3.25 billion for 2025.

For 2025, Aeronautics Systems expects sales in the low $13 billion range, Defense Systems projects sales in the low $8 billion range, Mission Systems anticipates ~$12 billion in sales, and Space Systems forecasts ~$11 billion in sales. Intersegment eliminations are estimated at ~($2.1 billion).

Price Action: NOC shares traded lower by 1.43% at $474.63 at the last check on Thursday.