Northrop Grumman Corporation
Shortcut
7.22GAAP diluted EPS
+0.6% vs Street
Street
7.18GAAP diluted EPS
October 18 consensus snapshot
Real
7.89Diluted EPS; MTM-adjusted basis with no quarterly MTM adjustment reported
Model download
Explore the assumptions and calculations behind the forecast.
Shortcut’s reasoning.
The model builds revenue from each segment’s opening backlog and assumed quarterly conversion rates. It estimates $11.137 billion of revenue and $1.272 billion of segment operating income after intersegment eliminations.
After the FAS/CAS adjustment and unallocated corporate costs, forecast operating income is $1.201 billion. Interest, pension and other income give $1.246 billion of pretax income. A 17.5% tax rate produces $1.028 billion of net income.
Dividing by 142.4 million diluted shares gives normalized EPS of $7.219607 against the frozen Street estimate of $7.18. GAAP and normalized EPS coincide in the forecast because the model assumes no pension mark-to-market adjustment for the quarter. The separate experimental beat probability does not adjust EPS.
On the record.
- Reporting period
- Q3 2026
- Reporting basis
- Issuer MTM-adjusted diluted EPS / consensus normalized EPS; current quarter zero MTM equals GAAP
- Consensus snapshot
- October 18, 2026
- Model / effort
- Opus 5.5 · High effort
- Workbook
- Reviewed workbook
Record history
- Forecast generated
- Oct 19, 2026 at 10:48 AM PDT
- First published
- Oct 19, 2026 at 11:50 AM PDT
Result basis
Issuer reports diluted EPS $7.89. MTM-adjusted EPS excludes pension mark-to-market adjustments; none is reported for this quarter. Recurring FAS/CAS pension income is retained.
Research sources
- https://investor.northropgrumman.com/node/44316/pdf
- https://www.sec.gov/Archives/edgar/data/1133421/000113342126000033/noc-06302026xearningsrelea.htm
- https://www.sec.gov/Archives/edgar/data/1133421/000113342126000034/noc-20260630.htm
- https://investor.northropgrumman.com/static-files/a48b12f6-1fae-46a4-890f-973b42c3aac4
- https://investor.northropgrumman.com/static-files/8820d27b-a4a8-4f60-881c-143b8563171c
- https://www.sec.gov/Archives/edgar/data/1133421/000113342126000015/noc-03312026xearningsrelea.htm
- https://www.sec.gov/Archives/edgar/data/1133421/000113342126000016/noc-20260331.htm
- https://www.sec.gov/Archives/edgar/data/1133421/000113342126000002/noc-12312025xearningsrelea.htm
- https://www.sec.gov/Archives/edgar/data/1133421/000113342126000003/R39.htm
- https://www.sec.gov/Archives/edgar/data/1133421/000113342125000052/noc-09302025xearningsrelea.htm
- https://www.sec.gov/Archives/edgar/data/1133421/000113342125000053/noc-20250930.htm
- https://www.sec.gov/Archives/edgar/data/1133421/000113342125000047/noc-06302025xearningsrelea.htm
- https://www.sec.gov/Archives/edgar/data/1133421/000113342125000022/noc-03312025xearningsrelea.htm
- https://www.ad-hoc-news.de/boerse/news/corporate-news/northrop-grumman-stock-falls-as-execution-risks-weigh/70166394
- https://whichindex.com/companies/northrop-grumman/
- https://www.benzinga.com/analyst-stock-ratings/price-target/26/10/62357009/top-wall-street-forecasters-revamp-northrop-grumman-expectations-ahead-of-q3-earnings
- https://finance.yahoo.com/markets/stocks/articles/northrop-grumman-release-q3-earnings-122300398.html
- https://www.wealthsignalnyc.com/stories/sp500-september-2026-nine-of-eleven-sectors-fell/
- https://finance.yahoo.com/markets/stocks/articles/lockheed-martin-announces-third-quarter-130000340.html
- https://insight.factset.com/sp-500-earnings-season-update-july-31-2026