April 24th, 2025 by WCBC Radio

Northrop Grumman Corporation reported a backlog of work valued at almost $93 billion dollars in the first quarter of 2025. The company had sales of $9.5 billion, down 7% from Q1 of 2024. Net earnings totaled $481 million, down from over 900 million last year. Northrop says the loss is due mainly to higher manufacturing and materials costs as well as process changes to accelerate production. The company repaid $1.6 billion of long-term debt and returned $800 million to shareholders through dividends and share repurchases.