Form 8-K

8-K — NORTHROP GRUMMAN CORP /DE/

Accession: 0001133421-26-000033

Filed: 2026-07-21

Period: 2026-07-21

CIK: 0001133421

SIC: 3812 (SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — noc-20260721.htm (Primary)

EX-99 — EARNINGS RELEASE (noc-06302026xearningsrelea.htm)

GRAPHIC (nocearningsreleasengclogoaa.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: noc-20260721.htm · Sequence: 1

noc-20260721

falseNORTHROP GRUMMAN CORP /DE/000113342100011334212026-07-212026-07-21

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2026

NORTHROP GRUMMAN CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 1-16411 80-0640649

(State or Other Jurisdiction

of Incorporation or Organization)

(Commission File Number)

(IRS Employer

Identification No.)

2980 Fairview Park Drive, Falls Church, VA 22042

(Address of principal executive offices)(Zip Code)

(703) 280-2900

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock NOC New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02. Results of Operations and Financial Condition.

On July 21, 2026, Northrop Grumman Corporation issued an earnings release announcing its financial results for the quarter ended June 30, 2026, under the heading “Northrop Grumman Reports Second Quarter 2026 Financial Results.” The earnings release is furnished as Exhibit 99.

ITEM 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number

Description

Earnings Release dated July 21, 2026 (furnished)

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NORTHROP GRUMMAN CORPORATION

(Registrant)

By: /s/ Jennifer C. McGarey

(Signature)

Jennifer C. McGarey

Corporate Vice President and Secretary

Date: July 21, 2026

EX-99 — EARNINGS RELEASE

EX-99

Filename: noc-06302026xearningsrelea.htm · Sequence: 2

Document

Exhibit 99

News Release Contact:

Katie Young (Media)

908-520-9948

katherine.young@ngc.com

Adam Barr (Investors)

703-280-4544

adam.barr@ngc.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

•Net awards of $20 billion increase backlog to new company record of $105 billion

•Sales increase 10 percent sequentially and 5 percent year-over-year to $10.9 billion

•Operating income and margin rate of $1.1 billion and 10.1 percent, respectively

•Diluted earnings per share (EPS) of $7.68

•Company increases 2026 financial guidance for sales and MTM-adjusted EPS1:

◦Sales now expected between $43.75B and $44.25B, an increase of $250M

◦MTM-adjusted EPS1 now expected between $28.60 and $29.10, an increase of $1.20

•Company reaffirms guidance for operating income and adjusted free cash flow1

FALLS CHURCH, Va. – July 21, 2026 – Northrop Grumman Corporation (NYSE: NOC) reported second quarter 2026 sales increased 5 percent to $10.9 billion, as compared with $10.4 billion in the second quarter of 2025. Second quarter sales reflect continued strong demand for our global capabilities. Second quarter 2026 net earnings totaled $1.1 billion, or $7.68 per diluted share, as compared with $1.2 billion, or $8.15 per diluted share, in the second quarter of 2025. Second quarter 2025 net earnings reflect a benefit of $150 million, or $1.04 per diluted share, associated with the divestiture of our training services business.

“Northrop Grumman achieved a new record backlog, driven by robust global demand for our products,” said Kathy Warden, chair, chief executive officer and president. “We are raising our sales and EPS guidance for the year based on our confidence in our team and the demand for our technologies. As momentum accelerates across our portfolio and the budgets continue to support demand, we remain focused on delivering for our customers with speed and precision, and we are proud of our role in preserving the freedoms we celebrate during our nation’s 250th birthday.”

1 Non-GAAP measure - see definitions at the end of this earnings release.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

Consolidated Operating Results and Cash Flows

Three Months Ended June 30 Six Months Ended June 30

$ in millions, except per share amounts 2026 2025 Change 2026 2025 Change

Sales

Aeronautics Systems $ 3,519 $ 3,114 13 % $ 6,802 $ 5,928 15 %

Defense Systems 2,093 1,991 5 % 3,992 3,796 5 %

Mission Systems 3,250 3,157 3 % 6,111 5,964 2 %

Space Systems 2,753 2,646 4 % 5,233 5,214 — %

Intersegment eliminations (739) (557) (1,381) (1,083)

Total sales 10,876 10,351 5 % 20,757 19,819 5 %

Operating income

Aeronautics Systems 362 321 13 % 667 138 383 %

Defense Systems 156 253 (38) % 340 432 (21) %

Mission Systems 501 441 14 % 934 802 16 %

Space Systems 236 280 (16) % 471 563 (16) %

Intersegment eliminations (97) (76) (182) (148)

Segment operating income1

1,158 1,219 (5) % 2,230 1,787 25 %

Segment operating margin rate1

10.6 % 11.8 % (120) bps 10.7 % 9.0 % 170 bps

FAS/CAS operating adjustment 7 63 (89) % 14 126 (89) %

Unallocated corporate expense:

Gain on sale of business — 231 NM — 231 NM

Training services divestiture – unallowable state taxes and transaction costs — (19) NM — (20) NM

Intangible asset amortization and PP&E step-up depreciation (17) (21) (19) % (38) (42) (10) %

Other unallocated corporate expense (52) (48) 8 % (121) (84) 44 %

Unallocated corporate (expense) income (69) 143 NM (159) 85 NM

Total operating income

$ 1,096 $ 1,425 (23) % $ 2,085 $ 1,998 4 %

Operating margin rate 10.1 % 13.8 % (370) bps 10.0 % 10.1 % (10) bps

Interest expense (161) (173) (7) % (323) (329) (2) %

Non-operating FAS pension benefit 166 137 21 % 332 267 24 %

Other, net 67 38 76 % 104 69 51 %

Earnings before income taxes 1,168 1,427 (18) % 2,198 2,005 10 %

Federal and foreign income tax expense 74 253 (71) % 229 350 (35) %

Effective income tax rate 6.3 % 17.7 % (1,140) bps 10.4 % 17.5 % (710) bps

Net earnings

$ 1,094 $ 1,174 (7) % $ 1,969 $ 1,655 19 %

Diluted earnings per share

7.68 8.15 (6) % 13.83 11.45 21 %

Weighted-average diluted shares outstanding, in millions 142.4 144.0 (1) % 142.4 144.5 (1) %

Net cash provided by (used in) operating activities $ 1,280 $ 868 47 % $ (376) $ (697) 46 %

Capital expenditures (302) (231) 31 % (469) (487) (4) %

Adjusted free cash flow1

$ 978 $ 637 54 % $ (845) $ (1,184) 29 %

1 Non-GAAP measure - see definitions at the end of this earnings release.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

Sales

Second quarter 2026 sales increased $525 million, or 5 percent, driven by higher sales at all four sectors, including a 13 percent increase at Aeronautics Systems.

Operating Income and Margin Rate

Second quarter 2026 operating income decreased $329 million, or 23 percent, primarily driven by the prior year $231 million gain on the training services divestiture, as well as $61 million of lower segment operating income1 and a $56 million decrease in the FAS/CAS operating adjustment. Operating margin rate declined to 10.1 percent from 13.8 percent reflecting the items above.

Segment Operating Income and Margin Rate1

Second quarter 2026 segment operating income1 decreased $61 million, or 5 percent, primarily due to $97 million of lower operating income at Defense Systems and $44 million of lower operating income at Space Systems, partially offset by $60 million of higher operating income at Mission Systems and $41 million of higher operating income at Aeronautics Systems. Segment operating margin rate1 decreased to 10.6 percent from 11.8 percent primarily due to a lower operating margin rate at Defense Systems and Space Systems, partially offset by a higher operating margin rate at Mission Systems.

Federal and Foreign Income Taxes

Second quarter 2026 income tax expense decreased $179 million, or 71 percent, due to a lower effective tax rate (ETR) and $259 million of lower earnings before income taxes. The second quarter 2026 ETR decreased to 6.3 percent from 17.7 percent principally due to the remeasurement of uncertain tax positions given recent developments with the IRS towards resolving our previously filed federal income tax returns and refund claims.

Net Earnings

Second quarter 2026 net earnings decreased $80 million, or 7 percent, primarily due to the $329 million decrease in operating income described above, partially offset by a $179 million decrease in income tax expense, a $29 million increase in the non-operating FAS pension benefit and a $29 million increase in Other, net largely driven by favorable returns associated with an investment sold during the quarter.

Cash Flows

Second quarter 2026 net cash provided by operating activities increased $412 million, or 47 percent, primarily due to lower net cash tax payments. Second quarter 2026 adjusted free cash flow1 increased $341 million, or 54 percent, due to an increase in net cash provided by operating activities, partially offset by an increase in capital expenditures.

Awards and Backlog

Second quarter 2026 net awards totaled $20.0 billion, and backlog totaled $104.7 billion. Significant second quarter new awards include $7.6 billion for Sentinel, $4.3 billion for restricted programs (primarily at Aeronautics Systems and Space Systems), $1.0 billion for F-35 (at Aeronautics Systems and Mission Systems), $0.8 billion for Glide Phase Interceptor (GPI), and $0.7 billion for Multi-role Electronically Scanned Array (MESA).

1 Non-GAAP measure - see definitions at the end of this earnings release.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

Segment Operating Results

AERONAUTICS SYSTEMS

Three Months Ended June 30 % Six Months Ended June 30

$ in millions 2026 2025 Change 2026 2025 Change

Sales $ 3,519 $ 3,114 13 % $ 6,802 $ 5,928 15 %

Operating income 362 321 13 % 667 138 383 %

Operating margin rate 10.3 % 10.3 % 9.8 % 2.3 %

Sales

Second quarter 2026 sales increased $405 million, or 13 percent, primarily due to higher volume on B-21 and other restricted programs, a $106 million increase on the E-130J TACAMO (“TACAMO”) program as it ramps up, and higher volume on the B-2, F-35 and E-2 programs. These increases were partially offset by a decrease on F/A-18 as final production deliveries have completed.

Operating Income

Second quarter 2026 operating income increased $41 million, or 13 percent, due to higher sales. Operating margin rate of 10.3 percent was comparable with the prior year period.

DEFENSE SYSTEMS

Three Months Ended June 30 % Six Months Ended June 30

$ in millions 2026 2025 Change 2026 2025 Change

Sales $ 2,093 $ 1,991 5 % $ 3,992 $ 3,796 5 %

Less: Training services sales

— (40) — (112)

Organic sales1

$ 2,093 $ 1,951 7 % $ 3,992 $ 3,684 8 %

Operating income $ 156 $ 253 (38) % $ 340 $ 432 (21) %

Operating margin rate 7.5 % 12.7 % 8.5 % 11.4 %

Sales

Second quarter 2026 sales increased $102 million, or 5 percent, primarily due to higher volume on Sentinel as the program continues to ramp and higher volume across the Integrated Battle Command System (IBCS) portfolio. These increases were partially offset by a $40 million reduction in sales related to the divested training services business.

Operating Income

Second quarter 2026 operating income decreased $97 million, or 38 percent, primarily due to a lower operating margin rate, partially offset by higher sales. Operating margin rate decreased to 7.5 percent from 12.7 percent primarily due to lower net EAC adjustments, including the absence of a prior year $76 million favorable adjustment on Sentinel. In the current quarter, we continued to invest in our missile prime business. We are projecting higher costs to mature production on the Extended Range version of the Advanced Anti-Radiation Guided Missile (AARGM-ER) and to develop and qualify the Stand-in Attack Weapon (SiAW), which resulted in a $68 million unfavorable EAC adjustment on SiAW. These investments were partially offset by a favorable EAC adjustment on Sentinel related to our recent achievement of certain contract incentives.

1 Non-GAAP measure - see definitions at the end of this earnings release.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

MISSION SYSTEMS

Three Months Ended June 30 % Six Months Ended June 30

$ in millions 2026 2025 Change 2026 2025 Change

Sales $ 3,250 $ 3,157 3 % $ 6,111 $ 5,964 2 %

Operating income 501 441 14 % 934 802 16 %

Operating margin rate 15.4 % 14.0 % 15.3 % 13.4 %

Sales

Second quarter 2026 sales increased $93 million, or 3 percent, primarily due to a $130 million increase on marine systems programs, the timing of materials on F-35 and ramp-up on restricted airborne radar programs. These increases were partially offset by lower volume on restricted advanced microelectronics programs.

Operating Income

Second quarter 2026 operating income increased $60 million, or 14 percent, due to a higher operating margin rate and higher sales. Operating margin rate increased to 15.4 percent from 14.0 percent, primarily due to higher net EAC adjustments driven by improved performance.

SPACE SYSTEMS

Three Months Ended June 30 % Six Months Ended June 30

$ in millions 2026 2025 Change 2026 2025 Change

Sales $ 2,753 $ 2,646 4 % $ 5,233 $ 5,214 — %

Operating income 236 280 (16) % 471 563 (16) %

Operating margin rate 8.6 % 10.6 % 9.0 % 10.8 %

Sales

Second quarter 2026 sales increased $107 million, or 4 percent, primarily due to a $139 million increase for Commercial Resupply Service (CRS) missions as well as higher volume on the Glide Phase Interceptor (GPI) and Ground-based Midcourse Defense Weapon System (GMD WS) programs. These increases were partially offset by lower sales on the Graphite Epoxy Motor (GEM) 63XL program related to the unfavorable EAC adjustment described below and lower volume on the Habitation and Logistics Outpost (HALO) program.

Operating Income

Second quarter 2026 operating income decreased $44 million, or 16 percent, primarily due to a lower operating margin rate, partially offset by higher sales. Operating margin rate decreased to 8.6 percent from 10.6 percent, primarily due to lower net EAC adjustments, including a $91 million unfavorable adjustment on GEM 63XL largely related to increases in the projected cost to complete the program, partially offset by favorable changes in contract mix.

1 Non-GAAP measure - see definitions at the end of this earnings release.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

Guidance

Financial guidance, as well as outlook, trends, expectations and other forward-looking statements provided by the company for 2026 and beyond, reflect the company's judgment based on the information available to the company at the time of this release. The company’s financial guidance and outlook for 2026 and beyond reflect what the company currently anticipates will be the impacts on the company from, among other factors, the global macroeconomic, security, and political/budget environments, including the impacts from inflationary pressures and labor and supply chain challenges; changes in the threat environment; changes in government budget, appropriations and procurement priorities and processes; changes in the regulatory environment, including trade policy; and changes in support for our programs. We are not assuming, and the company’s financial guidance and outlook for 2026 and beyond do not reflect impacts on the company from, a prolonged government shutdown, or application of spending limits or other spending cuts. However, the company cannot predict how these factors will evolve or what impacts they will have, and there can be no assurance that the company’s current expectations or underlying assumptions are correct. These factors can affect the company’s ability to achieve guidance or meet expectations.

For additional factors that may impact the company’s ability to achieve guidance or meet expectations, please see the “Forward-Looking Statements” section in this release and our Form 10-Q.

2026 Guidance

($ in millions, except per share amounts)

As of 7/21/2026

Sales $43,750 — $44,250

Prior: $43,500 - $44,000

Segment operating income1

$4,850 — $5,000

MTM-adjusted EPS1

$28.60 — $29.10

Prior: $27.40 — $27.90

Adjusted free cash flow1

$3,100 — $3,500

2026 Segment Guidance

As of 7/21/2026

Sales ($B) OM Rate %

Aeronautics Systems ~$14 Mid to High 9%

Prior: Mid $13 Prior: Low to Mid 9%

Defense Systems Mid to High $8 ~10%

Mission Systems High $12 ~15%

Prior: High 14%

Space Systems ~$11 Low 10%

Prior: ~11%

Intersegment Eliminations

~($2.7) Mid 13%

Prior: ~($2.4) Prior: High 13%

Non-GAAP measure - see definitions at the end of this earnings release.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

About Northrop Grumman

Northrop Grumman will webcast its earnings conference call at 9:30 a.m. Eastern Time on July 21, 2026. A live audio broadcast of the conference call will be available on the investor relations page of the company’s website at www.northropgrumman.com.

Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers’ toughest problems, our employees define possible every day.

###

Forward-Looking Statements and Projections

This earnings release and the information we are incorporating by reference, and statements to be made on the earnings conference call, contain or may contain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “anticipate,” “intend,” “may,” “could,” “should,” “plan,” “strategy,” “project,” “forecast,” “achieve,” “believe,” “estimate,” “guidance,” “outlook,” “trends,” “goals,” “confident,” “targeting,” “on track” and similar expressions generally identify these forward-looking statements.

Forward-looking statements include, among other things, statements relating to our future financial condition, results of operations and/or cash flows, including financial guidance, outlook, trends, expectations and other forward-looking statements for 2026 and beyond. Forward-looking statements are based upon assumptions, expectations, plans and projections that we believe to be reasonable when made, but which may change over time. These statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. Specific risks that could cause actual results to differ materially from those expressed or implied in these forward-looking statements include, but are not limited to, those identified and discussed more fully in the section entitled “Risk Factors” in the Form 10-K for the year ended December 31, 2025, and from time to time in our other filings with the Securities and Exchange Commission (SEC). They include:

Industry and Economic Risks

•our dependence on the U.S. government for a substantial portion of our business

•significant delays or reductions in appropriations and/or for our programs, and U.S. government funding and program support more broadly, including as a result of a prolonged continuing resolution and/or government shutdown, and/or related to the global security environment or other global events

•significant delays or reductions in payments as a result of or related to a breach of the debt ceiling or a prolonged government shutdown

•the use of estimates when accounting for our contracts and the effect of contract cost growth and our efforts to recover or offset such costs and/or changes in estimated contract costs and revenues, including as a result of inflationary pressures, labor shortages, supply chain challenges, changes in trade policies and/or other macroeconomic factors, and risks related

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

to management’s judgments and assumptions in estimating and/or projecting contract revenue and performance which may be inaccurate

•increased competition within our markets and bid protests

•continued pressures from macroeconomic trends, including on costs, schedules, performance and ability to meet expectations

Legal and Regulatory Risks

•investigations, claims, disputes, enforcement actions, litigation (including criminal, civil and administrative) and/or other legal proceedings

•changes in procurement and other laws, SEC, U.S. Department of War (DoW) and other rules and regulations, including changes through executive orders, contract terms and practices applicable to our industry, findings by the U.S. government as to our compliance with such requirements, more aggressive enforcement of such requirements and changes in our customers’ business practices and preferences globally

•the improper conduct of employees, agents, subcontractors, suppliers, business partners or joint ventures in which we participate, including the impact on our reputation and our ability to do business

•environmental matters, unforeseen environmental costs and government and third-party claims

•unanticipated changes in our tax provisions or exposure to additional tax liabilities

Business and Operational Risks

•cyber and other security threats or disruptions faced by us, our customers or our suppliers and other partners, and changes in related regulations

•the performance and viability of our subcontractors and suppliers and the availability and pricing of raw materials, critical minerals and metals, chemicals, parts and components, particularly with inflationary pressures, increased costs, pricing changes, shortages in labor and financial resources, supply chain disruptions, and extended material lead times

•our ability to attract and retain a qualified and talented workforce with the necessary security clearances to meet our performance obligations

•our exposure to additional risks as a result of our international business, including risks related to global security and strategic alliances, geopolitical and economic factors, misconduct, suppliers, laws and regulations

•our ability to innovate, develop new products and technologies, progress and benefit from digital transformation and maintain technologies to meet the needs of our customers

•natural disasters, epidemics, pandemics and similar outbreaks and other significant disruptions

•products and services we provide related to hazardous and high risk operations, including the production and use of such products, which subject us to various environmental, regulatory, financial, reputational and other risks

•our ability appropriately to protect and exploit intellectual property rights

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

General and Other Risk Factors

•the adequacy and availability of, and ability to obtain, insurance coverage, customer indemnifications or other liability protections

•the future investment performance of plan assets, gains or losses associated with changes in valuation of marketable securities related to our non-qualified benefit plans, changes in actuarial assumptions associated with our pension and other postretirement benefit plans and legislative or other regulatory actions impacting our pension and postretirement benefit obligations

•changes in business conditions that could impact business investments and/or recorded goodwill or the value of other long-lived assets, and other potential future liabilities

You are urged to consider the limitations on, and risks associated with, forward-looking statements and not unduly rely on the accuracy of forward-looking statements. These forward-looking statements speak only as of the date this earnings release is first issued or, in the case of any document incorporated by reference, the date of that document. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

This release and the attachments also contain non-GAAP financial measures. A reconciliation to the nearest GAAP measure and a discussion of the company’s use of these measures are included in this release or the attachments.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

SCHEDULE 1

NORTHROP GRUMMAN CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME

(Unaudited)

Three Months Ended June 30 Six Months Ended June 30

$ in millions, except per share amounts 2026 2025 2026 2025

Sales

Product $ 8,808 $ 8,258 $ 16,766 $ 15,779

Service 2,068 2,093 3,991 4,040

Total sales 10,876 10,351 20,757 19,819

Operating costs and expenses

Product 7,155 6,526 13,588 12,892

Service 1,600 1,615 3,088 3,137

General and administrative expenses 1,025 1,016 1,996 2,023

Total operating costs and expenses 9,780 9,157 18,672 18,052

Gain on sale of business — 231 — 231

Operating income 1,096 1,425 2,085 1,998

Other (expense) income

Interest expense (161) (173) (323) (329)

Non-operating FAS pension benefit 166 137 332 267

Other, net 67 38 104 69

Earnings before income taxes 1,168 1,427 2,198 2,005

Federal and foreign income tax expense 74 253 229 350

Net earnings $ 1,094 $ 1,174 $ 1,969 $ 1,655

Basic earnings per share $ 7.70 $ 8.17 $ 13.86 $ 11.48

Weighted-average common shares outstanding, in millions 142.1 143.7 142.1 144.2

Diluted earnings per share $ 7.68 $ 8.15 $ 13.83 $ 11.45

Weighted-average diluted shares outstanding, in millions 142.4 144.0 142.4 144.5

Net earnings (from above) $ 1,094 $ 1,174 $ 1,969 $ 1,655

Other comprehensive (loss) income, net of tax

Change in cumulative translation adjustment — 7 (2) 9

Change in other, net (3) 11 (6) 19

Other comprehensive (loss) income, net of tax (3) 18 (8) 28

Comprehensive income $ 1,091 $ 1,192 $ 1,961 $ 1,683

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

SCHEDULE 2

NORTHROP GRUMMAN CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(Unaudited)

$ in millions, except par value June 30, 2026 December 31, 2025

Assets

Cash and cash equivalents $ 2,307 $ 4,403

Accounts receivable, net 2,311 1,375

Unbilled receivables, net 7,953 6,544

Inventoried costs, net 1,415 1,309

Prepaid expenses and other current assets 1,604 1,656

Total current assets 15,590 15,287

Property, plant and equipment, net of accumulated depreciation of $10,061 for 2026 and $9,648 for 2025

10,297 10,972

Operating lease right-of-use assets 1,901 1,859

Goodwill 17,439 17,437

Deferred tax assets 598 1,051

Pension and other postretirement benefit plan assets 3,447 3,167

Other non-current assets 1,491 1,604

Total assets $ 50,763 $ 51,377

Liabilities

Trade accounts payable $ 2,895 $ 3,240

Accrued employee compensation 1,991 2,309

Advance payments and billings in excess of costs incurred 3,823 4,086

Other current liabilities 4,636 4,247

Total current liabilities 13,345 13,882

Long-term debt, net of current portion of $763 for 2026 and $534 for 2025

14,428 15,162

Pension and other postretirement benefit plan liabilities 1,086 1,110

Operating lease liabilities 1,861 1,857

Other non-current liabilities 2,159 2,692

Total liabilities 32,879 34,703

Shareholders’ equity

Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding

— —

Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2026—142,062,680 and 2025—141,997,194

142 142

Paid-in capital 37 —

Retained earnings 17,839 16,658

Accumulated other comprehensive loss (134) (126)

Total shareholders’ equity 17,884 16,674

Total liabilities and shareholders’ equity $ 50,763 $ 51,377

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

SCHEDULE 3

NORTHROP GRUMMAN CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Six Months Ended June 30

$ in millions 2026 2025

Operating activities

Net earnings $ 1,969 $ 1,655

Adjustments to reconcile to net cash used in operating activities:

Depreciation and amortization 739 687

Stock-based compensation 49 40

Deferred income taxes 453 (114)

B-21 loss provision — 477

Gain on sale of business — (231)

Net periodic pension and OPB income (240) (169)

Pension and OPB contributions (63) (62)

Changes in assets and liabilities:

Accounts receivable, net (936) (929)

Unbilled receivables, net (860) (1,343)

Inventoried costs, net (118) (102)

Prepaid expenses and other assets 141 21

Trade accounts payable

(345) (2)

Advance payments and billings in excess of costs incurred

(263) (70)

Other liabilities

(836) (420)

Income taxes payable, net (38) (145)

Other operating activities (28) 10

Net cash used in operating activities (376) (697)

Investing activities

Capital expenditures (469) (487)

Proceeds from sale of investment 107 —

Divestiture of training services business — 333

Other investing activities (2) (37)

Net cash used in investing activities (364) (191)

Financing activities

Net proceeds from issuance of long-term debt — 998

Payments of long-term debt (527) (1,500)

Net borrowings on commercial paper — 566

Common stock repurchases (68) (891)

Cash dividends paid (684) (634)

Payments of employee taxes withheld from share-based awards (58) (38)

Other financing activities (19) (67)

Net cash used in financing activities (1,356) (1,566)

Decrease in cash and cash equivalents (2,096) (2,454)

Cash and cash equivalents, beginning of year 4,403 4,353

Cash and cash equivalents, end of period $ 2,307 $ 1,899

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

SCHEDULE 4

NORTHROP GRUMMAN CORPORATION

TOTAL BACKLOG

(Unaudited)

June 30, 2026 December 31, 2025

% Change in 2026

$ in millions

Funded1

Unfunded

Total

Backlog2

Total

Backlog2

Aeronautics Systems $ 13,394 $ 11,174 $ 24,568 $ 23,052 7 %

Defense Systems 9,392 25,286 34,678 27,796 25 %

Mission Systems 12,878 5,587 18,465 18,632 (1) %

Space Systems 10,281 16,700 26,981 26,201 3 %

Total backlog $ 45,945 $ 58,747 $ 104,692 $ 95,681 9 %

1 Funded backlog represents firm orders for which funding is authorized and appropriated.

2 Total backlog excludes unexercised contract options and indefinite delivery, indefinite quantity (IDIQ) contracts until the time the option or IDIQ task order is exercised or awarded.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

SCHEDULE 5

NORTHROP GRUMMAN CORPORATION

SUPPLEMENTAL PER SHARE INFORMATION

(Unaudited)

Three Months Ended June 30 Six Months Ended June 30

$ in millions, except per share amounts 2026 2025 2026 2025

Per share impact of total net FAS/CAS pension adjustment

FAS/CAS operating adjustment $ 7 $ 63 $ 14 $ 126

Non-operating FAS pension benefit 166 137 332 267

Total net FAS/CAS pension adjustment 173 200 346 393

Tax effect1

(43) (50) (87) (99)

After-tax impact $ 130 $ 150 $ 259 $ 294

Weighted-average diluted shares outstanding, in millions 142.4 144.0 142.4 144.5

Per share impact $ 0.91 $ 1.04 $ 1.82 $ 2.03

Per share impact of intangible asset amortization and PP&E step-up depreciation

Intangible asset amortization and PP&E step-up depreciation $ (17) $ (21) $ (38) $ (42)

Tax effect1

5 5 10 10

After-tax impact $ (12) $ (16) $ (28) $ (32)

Weighted-average diluted shares outstanding, in millions 142.4 144.0 142.4 144.5

Per share impact $ (0.08) $ (0.11) $ (0.20) $ (0.22)

1 Based on a 21% federal statutory tax rate and a 5.25% blended state tax rate.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

Northrop Grumman Reports Second Quarter 2026 Financial Results

Non-GAAP Financial Measures Disclosure: This earnings release contains non-GAAP (accounting principles generally accepted in the United States of America) financial measures, as defined by SEC Regulation G and indicated by a footnote in the text of the release. Definitions for the non-GAAP measures are provided below and reconciliations are provided in the body of the release, except that reconciliations of forward-looking non-GAAP measures are not provided because the company is unable to provide such reconciliations without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence and financial impact of certain items, including, but not limited to, the impact of any mark-to-market pension adjustment. Other companies may define these measures differently or may utilize different non-GAAP measures.

MTM-adjusted EPS: Diluted earnings per share excluding the per share impact of MTM benefit (expense) and related tax impacts. This measure may be useful to investors and other users of our financial statements as a supplemental measure in evaluating the company’s underlying financial performance by presenting the company’s diluted earnings per share results before the non-operational impact of pension and OPB actuarial gains and losses.

Segment operating income and segment operating margin rate: Segment operating income and segment operating margin rate (segment operating income divided by sales) reflect the combined operating income of our four segments less the operating income associated with intersegment sales. Segment operating income includes pension expense allocated to our sectors under FAR and CAS and excludes FAS pension service expense and unallocated corporate items. These measures may be useful to investors and other users of our financial statements as supplemental measures in evaluating the financial performance and operational trends of our sectors. These measures should not be considered in isolation or as alternatives to operating results presented in accordance with GAAP.

Organic sales: Total sales excluding sales attributable to the company’s former training services business. This measure may be useful to investors and other users of our financial statements as a supplemental measure in evaluating the company’s underlying sales growth as well as in understanding our ongoing business and future sales trends by presenting the company’s sales adjusted for the impact of the divestiture.

Adjusted free cash flow: Net cash provided by or used in operating activities, less capital expenditures, plus proceeds from the sale of equipment to a customer (not otherwise included in net cash provided by or used in operating activities) and the after-tax impact of discretionary pension contributions. Adjusted free cash flow includes proceeds from the sale of equipment to a customer, if any, as such proceeds were generated in a customer sales transaction. It also includes the after-tax impact of discretionary pension contributions, if any, for consistency and comparability of financial performance. This measure may not be defined and calculated by other companies in the same manner. We use adjusted free cash flow as a key factor in our planning for, and consideration of, acquisitions, the payment of dividends and stock repurchases. This non-GAAP measure may be useful to investors and other users of our financial statements as a supplemental measure of our cash performance, but should not be considered in isolation, as a measure of residual cash flow available for discretionary purposes, or as an alternative to operating cash flows presented in accordance with GAAP. During the six months ended June 30, 2026 and 2025, the company received no proceeds from the sale of equipment to a customer and made no discretionary pension contributions.

Northrop Grumman Corporation

2980 Fairview Park Drive • Falls Church, VA 22042-4511

news.northropgrumman.com

GRAPHIC

Filename: nocearningsreleasengclogoaa.jpg · Sequence: 6

Binary file (143608 bytes)

Download nocearningsreleasengclogoaa.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 8

v3.26.1

Document and Entity Information Document

Jul. 21, 2026

Document and Entity Information [Abstract]

Document Type

8-K

Amendment Flag

false

Document Period End Date

Jul. 21, 2026

Entity Registrant Name

NORTHROP GRUMMAN CORP /DE/

Entity Central Index Key

0001133421

Entity Incorporation, State or Country Code

Entity File Number

1-16411

Entity Tax Identification Number

80-0640649

Entity Address, Address Line 1

2980 Fairview Park Drive

Entity Address, City or Town

Falls Church

Entity Address, State or Province

Entity Address, Postal ZIP Code

22042

City Area Code

703

Local Phone Number

280-2900

Written Communications

false

Soliciting Material

false

Pre-Commencement Tender Offer

false

Pre-Commencement Issuer Tender Offer

false

Security 12(b) Title

Common Stock

Trading Symbol

NOC

Security Exchange Name

NYSE

Entity Emerging Growth Company

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Document and Entity Information.

+ References

No definition available.

+ Details

Name:

noc_DocumentAndEntityInformationAbstract

Namespace Prefix:

noc_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration