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Northrop Grumman (NOC) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 21, 2026
Northrop Grumman (NOC) reported revenue of $9.9B for the first quarter 2026 (Q1 2026), +4% from a year earlier and -16% from the quarter before. Operating margin was 10.0%, net earnings $875M (8.9% of revenue).
Northrop Grumman, Q1 2026: revenue $9.9B (+4% year over year), operating margin 10.0%, net earnings $875M, operating cash flow −$1.7B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.9B | -16% | +4% |
| Operating profit | $989M | -22% | +73% |
| Net earnings | $875M | -39% | +82% |
| Operating cash flow | −$1.7B | -142% | — |
What changed
Revenue was $9.9B in Q1 2026, up 4% year over year and down 16% from the previous quarter. Product was the largest line at 81% of revenue. Product added $0.44B year over year (up 6%), 106% of the total change. Service declined 1%.
Operating profit was $1.0B, a 10.0% margin (up 4.0 points year over year). Of the extra revenue versus Q1 2025, 101% reached operating profit, above the 6% margin then. Total costs fell 0% while revenue rose 4%. Net earnings were $0.88B, up 82% year over year. The effective tax rate was 15.0%.
Operating cash flow was −$1.7B. Non-cash charges added back $0.37B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $2.9B. Capital expenditures of $0.17B exceeded it, leaving free cash flow of −$1.8B.
Questions
What was Northrop Grumman's revenue in the first quarter 2026?
Northrop Grumman (NOC) reported revenue of $9.9B for the first quarter 2026 (Q1 2026), +4% from a year earlier and -16% from the quarter before.
Was Northrop Grumman profitable in the first quarter 2026?
Operating profit was $989M (10.0% of revenue) and net earnings $875M.
Source: Northrop Grumman 10-Q on SEC EDGAR.