诺斯罗普·格鲁曼三季度销售额111.2亿美元增6.7%：每股收益7.89美元超预期，积压订单创纪录1096亿美元，全年盈利指引上调
诺斯罗普·格鲁曼公司（Northrop Grumman Corporation）周二（10月20日）公布2026年第三季度业绩：销售额111.2亿美元，同比增长6.7%，去年同期为104.2亿美元；净利润11.24亿美元、每股收益7.89美元，同比增长约3%，去年同期为净利润11亿美元、每股收益7.67美元，本季每股收益高于分析师预期的约7.18至7.22美元。四个业务板块的销售额全部实现增长，板块经营利润同比增长5%，板块经营利润率为12.1%。
订单方面，公司三季度新签净订单164亿美元，订单出货比达到1.5；截至三季度末，积压订单达到创纪录的1,096亿美元，较2025年底的956.8亿美元大幅增长、同比增幅约20%。当季主要新订单包括46亿美元受限（保密）项目、20亿美元「哨兵」（Sentinel）导弹项目、14亿美元弗吉尼亚级潜艇项目、13亿美元F-35项目与10亿美元E-2项目。分板块看，航空系统销售额增长14%，防御系统增长12%至23亿美元，任务系统销售额31.6亿美元、利润率15.8%，太空系统增长2%至27.5亿美元。调整后自由现金流为18亿美元、同比增长逾40%，其中包括出售一台B-21测试资产所得的3.71亿美元。
指引方面，诺斯罗普·格鲁曼将2026年调整后每股收益指引由28.60至29.10美元上调至29.35至29.75美元，板块经营利润指引上调至49.4亿至50.4亿美元，全年销售额指引维持437.5亿至442.5亿美元不变。首席执行官Kathy Warden将指引上调与创纪录的积压订单及公司产品组合定位联系起来。管理层预计2027年销售额增长5%至7%、利润率再扩大10至20个基点，并确认B-21轰炸机的生产将提速25%，公司还提出到2031年将国际销售额翻倍的目标。诺斯罗普·格鲁曼股价周二上涨约5%。
Northrop Grumman Third-Quarter Sales Rise 6.7% to $11.12 Billion as EPS of $7.89 Beats Estimates, Backlog Hits a Record $109.6 Billion and Full-Year Profit Guidance Is Raised
Northrop Grumman Corporation reported third-quarter 2026 results on Tuesday, October 20. Sales rose 6.7% to $11.12 billion from $10.42 billion a year earlier. Net income was $1.124 billion, or $7.89 a share, up about 3% from $1.100 billion, or $7.67 a share, a year ago, and above analyst estimates of roughly $7.18 to $7.22 a share. All four segments grew sales; segment operating income rose 5% at a segment operating margin rate of 12.1%.
The company booked net awards of $16.4 billion in the quarter, a book-to-bill ratio of 1.5, lifting its backlog to a record $109.6 billion at quarter-end, up from $95.68 billion at the end of 2025 and about 20% higher than a year earlier. Major awards included $4.6 billion for restricted programs, $2.0 billion for the Sentinel missile program, $1.4 billion for Virginia-class submarines, $1.3 billion for the F-35 and $1.0 billion for the E-2. Aeronautics Systems sales rose 14%, Defense Systems sales rose 12% to $2.3 billion, Mission Systems sales were $3.16 billion at a 15.8% margin, and Space Systems sales grew 2% to $2.75 billion. Adjusted free cash flow reached $1.8 billion, up more than 40% from a year earlier, aided by $371 million from the sale of a B-21 test asset.
Northrop Grumman raised its 2026 adjusted earnings guidance to $29.35 to $29.75 a share, from $28.60 to $29.10, and lifted segment operating income guidance to $4.94 billion to $5.04 billion, while reaffirming full-year sales guidance of $43.75 billion to $44.25 billion. Chief Executive Kathy Warden tied the raised outlook to the record backlog and the company's portfolio positioning. Management expects 2027 sales growth of 5% to 7% with a further 10 to 20 basis points of margin expansion, confirmed a 25% ramp in B-21 production, and set a goal of doubling international sales by 2031. Northrop Grumman shares rose about 5% on Tuesday.
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图片来源：B-21「突袭者」轰炸机在加州爱德华兹空军基地试飞资料图。照片：美国空军第412测试联队发布，公共领域，经维基共享资源。 / File photo: A B-21 Raider during flight testing at Edwards Air Force Base, California. U.S. Air Force photo courtesy of the 412th Test Wing, public domain, via Wikimedia Commons.
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