
Northrop Grumman was awarded a second LRIP contract for the B-21 stealth bomber programme in the fourth quarter of 2024. (US Air Force)
Northrop Grumman had a solid 2024, setting the stage for further growth in 2025, Kathy Warden, chair, CEO, and president of Northrop Grumman, said in an earnings call on 30 January.
The company ended the year with a record backlog of USD91.5 billion, driven in part by its selection for the US Navy's E-130J nuclear command-and-control aircraft programme and an award for the second low-rate initial production (LRIP) contract for the B-21 bomber in the fourth quarter, she said. The quarter also saw a USD900 million contract for the next iteration of the Integrated Air and Missile Defense Battle Command System (IBCS) for Poland, Warden added.
Fourth quarter
In the fourth quarter of 2024, Northrop Grumman booked USD17.3 billion in new contracts, bringing the total for the year to about USD51 billion, Ken Crews, chief financial officer for Northrop Grumman, said during the call. The USD91.5 billion backlog was a 9% increase over 2023.
The quarter saw sales of USD10.7 billion, bringing yearly sales to USD41 billion. “2024 sales increased by 4.4%, with growth across three of our four businesses,” Crews said.
Northrop Grumman Aeronautics Systems (NGAS) “grew to USD12 billion in 2024, an increase of 12% compared to the prior year”, Crews said. Sales volume increased, “driven by the production ramp on B-21 and from higher activity on the F-35 programme”, he added. The Global Hawk and Triton unmanned aircraft system programmes also saw increased sales.
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