Story perspectives

Northrop Grumman Raises 2026 Forecast, Hits $105 B Backlog

7/22/2026

Summary

Story summary

Northrop Grumman lifted its 2026 earnings forecast to $28.60-$29.10 per share, up from $27.40-$27.90.
The firm booked $20 billion in new contracts, pushing its backlog to a record $105 billion.
Defense-systems revenue rose 5% while operating income fell 38%, and space income dropped 16% after higher GEM 63XL rocket-motor costs.
Aeronautics sales rose 13% year over year, helped by a 25% capacity boost for the B-21 Raider program, with first delivery in 2027.

History

Historical Context

During the 1991 Gulf War, the U.S.-led coalition flew more than 100,000 sorties, deploying over 2,400 aircraft to cripple Iraq’s air defenses. The massive air campaign drove a surge in U.S. defense contracts, swelling backlogs at Lockheed Martin and Boeing. Decades later, Northrop Grumman mirrors that boom, winning $20 billion in new B-21 Raider work.

1 of 2

Story summary

Northrop Grumman lifted its 2026 earnings forecast to $28.60-$29.10 per share, up from $27.40-$27.90.
The firm booked $20 billion in new contracts, pushing its backlog to a record $105 billion.
Defense-systems revenue rose 5% while operating income fell 38%, and space income dropped 16% after higher GEM 63XL rocket-motor costs.
Aeronautics sales rose 13% year over year, helped by a 25% capacity boost for the B-21 Raider program, with first delivery in 2027.

1 / 2