Northrop Grumman (NYSE: NOC) ended the fourth quarter with a record-breaking backlog of more than US$95 billion, according to its latest earnings report.
The aerospace and defence company posted the report for Q4 2025, with sales also up by 10% year-on-year, to the tune of US$11.7 billion and guidance for this year looking to see sales land in the $43.5–$44.0 billion ballpark.
However, these numbers still fell below Wall Street Estimates, which expected a forward outlook of $44.24 billion.
Excluding the after-tax mark-to-market (MTM) benefit of $394 million, fourth quarter 2025 MTM-adjusted net earnings per share (EPS) came in at $7.23, versus $6.98 expected.
Revenue was also up, with a total of $11.71 billion, a jump of around 10% from the same time last year and ahead of $11.62 billion expected.
“We delivered outstanding results in 2025 through strong performance and a laser focus on our customers’ and stakeholders’ highest priorities,” said Kathy Warden, chair, chief executive officer and president of Northrop, in a post-earnings call.
“Our record backlog supports our 2026 outlook of mid-single digit sales growth and we are confident in our ability to deliver continued strong performance.”
Northrop Grumman (NYSE: NOC) stock added 2.7% on Tuesday to US$678.74. The company maintains a market cap of $96.87 billion.
