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Northrop Grumman (NOC) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 21, 2026
Northrop Grumman (NOC) reported revenue of $10.9B for the second quarter 2026 (Q2 2026), +5% from a year earlier and +10% from the quarter before. Operating margin was 10.1%, net earnings $1.1B (10.1% of revenue).
Northrop Grumman, Q2 2026: revenue $10.9B (+5% year over year), operating margin 10.1%, net earnings $1.1B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.9B | +10% | +5% |
| Operating profit | $1.1B | +11% | -23% |
| Net earnings | $1.1B | +25% | -7% |
| Operating cash flow | $1.3B | — | +47% |
| Free cash flow | $978M | — | +54% |
What changed
Revenue was $10.9B in Q2 2026, up 5% year over year and up 10% from the previous quarter. Product was the largest line at 81% of revenue. Product added $0.55B year over year (up 7%), 105% of the total change. Service declined 1%.
Operating profit was $1.1B, a 10.1% margin (down 3.7 points year over year). Operating profit fell $0.33B even though revenue rose $0.53B versus Q2 2025, so costs grew faster than sales. Total costs grew 10% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+11%). Net earnings were $1.1B, down 7% year over year. The effective tax rate was 6.3%.
Operating cash flow was $1.3B (up 47% year over year), 117% of net earnings. Non-cash charges added back $0.37B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.21B. Capital expenditures of $0.30B left free cash flow of $1.0B.
Questions
What was Northrop Grumman's revenue in the second quarter 2026?
Northrop Grumman (NOC) reported revenue of $10.9B for the second quarter 2026 (Q2 2026), +5% from a year earlier and +10% from the quarter before.
Was Northrop Grumman profitable in the second quarter 2026?
Operating profit was $1.1B (10.1% of revenue) and net earnings $1.1B.
Source: Northrop Grumman 10-Q on SEC EDGAR.