Northrop Grumman Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for Fiscal 2018
For the quarter, the company's sales increased 4% to $6.6 billion from $6.4 billion in the fourth quarter of 2016. Fourth quarter 2017 net earnings totaled $178 million, or $1.01 per diluted share compared with $525 million, or $2.96 per diluted share, in the prior year period. Operating income was $767 million compared to $831 million a year ago. Earnings before income taxes were $684 million compared to $748 million a year ago. Net cash provided by operating activities was $1,607 million compared to $1,531 million a year ago. Capital expenditures were $278 million compared to $312 million a year ago.
For the fiscal 2018, the company expects sales of ~$27,000 million, net interest expense of ~390 million, effective tax rate of ~19.5%, diluted EPS of $15 to $15.25, capital expenditure of ~$1,000 million, free cash flow of $2,000 million to $2,300 million.