Northrop Grumman's Cygnus spacecraft in low-Earth orbit. [Courtesy: Northrop Grumman]
Key Takeaways:
Northrop Grumman reported an overall decrease in second-quarter sales to $8.8 billion from $9.2 billion in the prior year.
This company-wide sales decline was partially offset by an 8 percent ($231 million) growth in its Space Systems segment, driven by increased sales in launch and strategic missiles.
Despite overall sales challenges, the Space Systems segment remains on track to achieve its projected double-digit growth for 2022, and the CEO affirmed full-year guidance based on strong bookings and operational performance.
Northrop Grumman reported a $350 million decrease in sales across its aeronautics systems, defense systems, and mission systems, but this was partially offset by an 8 percent increase in its space systems segment.
CREATE A FREE ACCOUNT
Sign up to keep reading
Create a free account to continue. Already a member? Sign in below.
Jeremy attained his bachelor's in journalism and emerging media from Kennesaw State University. He also served in the Georgia Air National Guard as a C-130 Crew Chief for six years, holding an associate in aircraft maintenance technology.
