Northrop Grumman Corp (NOC) released its first quarter results on Thursday, April 29, 2021. The company reported net earnings of $13.43 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 160 percent compared to the same period a year ago.
Northrop Grumman Corporation was founded in 1939 and is based in Falls Church, Virginia. Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems.
Northrop Grumman's revenue increased 9 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 22.21% for the first quarter compared to the same period in the previous year, and operating margins decreased to 9.2% over the same period. Net earnings for past trailing twelve months were $4516.0 million, up 100% from the prior year.
Moving on to the balance sheet, Northrop Grumman's cash levels jumped 7% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 11.51% this past year. The current ratio for Northrop Grumman now stands at 1.44. The company decreased shares outstanding by 3.67%.
Shares of NOC are currently trading around $354.44. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 12.98 and price to book ratio of 5.51.