Northrop Grumman Raises 2026 Profit Forecast on Record $109.6 Billion Backlog

Northrop Grumman raised its full-year 2026 adjusted profit forecast on Tuesday, citing strong demand for military aircraft and defense programs. The contractor now expects adjusted earnings per share of $29.35 to $29.75, up from its prior range of $28.60 to $29.10. The company posted third-quarter sales of $11.12 billion, up 7% year over year, with growth across all four sectors. Aeronautics Systems sales rose 14%, driven by B-21 bomber sales and higher F-35 production, while Defense Systems grew 12% on the Sentinel missile program ramp-up. Quarterly profit rose about 2% to $1.12 billion, or $7.89 per share, from $1.10 billion, or $7.67 per share, a year earlier. Northrop secured $16.4 billion in new contracts during the quarter, with orders growing at 1.5 times billings. Its backlog reached a record $109.6 billion as of September 30. CEO Kathy Warden said the record backlog and portfolio position support the company's 2027 outlook.