FALLS CHURCH, Va. - Northrop Grumman Corporation (NYSE: NOC) reported first quarter 2024 sales increased 9 percent to $10.1 billion, as compared with $9.3 billion in the first quarter of 2023.

* Sales increase 9 percent to $10.1 billion

* Operating income increases 13 percent driven by strong performance and cost efficiencies

* Diluted earnings per share increase 15 percent to $6.32

* $1.5 billion returned to shareholders through dividends and share repurchases

* Reaffirming 2024 company-level guidance

First quarter 2024 sales reflect continued strong demand for our products and services. First quarter 2024 net earnings totaled $944 million, or $6.32 per diluted share, as compared with $842 million, or $5.50 per diluted share, in the first quarter of 2023.

'Northrop Grumman's first quarter performance includes 9 percent sales and double digit earnings growth, showing we are off to a strong start to the year. We're also seeing the results of our focus on productivity and cost efficiency to improve operating margin in many of our businesses,' said Kathy Warden, chair, chief executive officer and president. 'Robust global defense spending and our strong backlog, along with expanding margins, continue to support our multi-year outlook for free cash flow growth.'

Consolidated Operating Results and Cash Flows: See full release at:

https://investor.northropgrumman.com/static-files/9be084e2-5e58-4b17-b7c2-b349bd85caf4

(C) 2024 Electronic News Publishing, source ENP Newswire