Northrop Grumman (NYSE: NOC) Q3 Earnings Preview: What to Expect from the Defense Giant

• Northrop Grumman (NYSE: NOC) is set to release its third-quarter earnings on October 20, 2026, with Wall Street anticipating $7.18 EPS and $11.10 billion in revenue.
• Analysts project a 5.9% year-over-year decline in earnings per share to $7.22, despite an expected 6.1% increase in revenue to $11.06 billion, suggesting potential margin compression.
• Growth drivers like B-21 Raider production and the Sentinel program are key to sales, though program costs and execution risks, alongside a recent $18.80 million U.S. Army contract, will influence future performance.

Northrop Grumman (NYSE: NOC) is expected to report third-quarter earnings before the market opens on October 20, 2026. The defense contractor builds military aircraft, missiles, and space systems. Wall Street estimates earnings of $7.18 per share and revenue of about $11.10 billion.

Estimates vary by source. As highlighted by Zacks Investment Research, analysts expect earnings of $7.22 per share for the quarter ended September 2026, down 5.9% from a year earlier. They forecast revenue of $11.06 billion, up 6.1%. Zacks also reports that its consensus earnings estimate has risen 0.4% over the past 30 days.

Higher revenue alongside lower earnings would mean Northrop Grumman makes less profit per share despite bringing in more sales. Increased B-21 Raider production, weapons demand, and work on the Sentinel program could support sales, as highlighted by Zacks Investment Research. Northrop Grumman’s 2026 sales guidance is $43.75 billion to $44.25 billion, though Sentinel costs and execution remain risks.

Northrop Grumman also received an $18.80 million U.S. Army contract on September 29 to develop propulsion technology for XRC missile prototypes, as highlighted by Benzinga. The contract adds to its defense work, but its value is small compared with the roughly $11.10 billion in quarterly revenue Wall Street expects.