Equity Profile

NOC

Northrop Grumman Corporation

IndustrialsAerospace & Defense$77.3B

Jul21Tue

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Northrop Grumman Corporation (NOC) is a major player in the aerospace and defense sector, providing advanced technology solutions and services. With a market cap of $77 billion, the company is crucial for government and military contracts, especially in an environment of increasing defense spending and geopolitical tensions.

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

$6.83

Revenue

Total revenue reflects the company's ability to secure contracts and deliver on projects, which is vital for growth.

$10.8B

Wall Street expectations, options signals, track record, and call prep available with Pro.

NOC Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+2.65%

Avg Stock Reaction

+0.03%

Last Quarter Recap

In Q1-2026, Northrop Grumman reported an EPS of $6.14, slightly beating estimates. However, the stock fell 6.98% the following day, indicating market disappointment despite the earnings beat.

Management Promises & Guidance

Focus on maintaining strong margins in defense contracts.
Commitment to innovation in aerospace technology.
Plans to enhance operational efficiency.

Expectations

Wall Street Expectations

Analysts expect Northrop Grumman to report solid earnings this quarter, with a consensus EPS of $6.83. However, there are concerns about whether the company can sustain its growth trajectory amidst rising costs and competition.

Bull Case

If Northrop Grumman exceeds EPS expectations and shows strong revenue growth, it could signal robust demand for defense services, driving the stock higher.

Bear Case

Conversely, if the company misses earnings estimates or provides weak guidance, it could raise doubts about its future growth, leading to a significant drop in stock price.

Key Metrics to Watch

EPS

$6.83

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

Revenue

$10.8B

Total revenue reflects the company's ability to secure contracts and deliver on projects, which is vital for growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will EPS exceed the consensus estimate of $6.83?

A beat on EPS could indicate strong operational performance and boost investor confidence.

What is the outlook for revenue growth in the upcoming quarters?

Guidance on revenue growth will be critical for assessing the company's ability to maintain its market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of increased defense spending, which could lead to stronger-than-expected revenue growth.

Supporting Evidence

Historical performance shows a high EPS beat rate of 88%, indicating potential for positive surprises.

Options pricing suggests a significant move, reflecting market uncertainty that could favor a positive outcome.

Key Risk

If revenue growth comes in below $10.7B, it could challenge the optimistic outlook for the defense sector.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Northrop Grumman can sustain its recent growth amid rising costs and competition.

Bull Confirmed If

An EPS of $7.01 or higher with revenue exceeding $10.9B would confirm a strong bull case.

Bear Confirmed If

An EPS below $6.72 or revenue under $10.7B would support a bearish outlook.

Pre-Earnings Positioning

Options Market

Implied Move

±11.39%

Historical Avg

±5.1%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings announcement.

Options are pricing ±11.4% while NOC has averaged ±5.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

27.9%

Calls (77K)P/C Ratio: 0.16Puts (30K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Northrop Grumman beats expectations, history suggests the stock could rise by around 1.84%, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

A miss could lead to a decline of approximately 12.66%, reflecting investor disappointment and concerns over future growth.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$15,001.00–$50,000.00

disclosed dollar ranges

Most Active Members

D-TNSteve CohenRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new defense contracts or government spending initiatives.
2Details on cost management strategies and their impact on margins.
3Insights into R&D investments and technological advancements.
4Guidance on future revenue streams and market opportunities.
5Responses to competitive pressures in the aerospace and defense industry.

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

$6.83

Revenue

Total revenue reflects the company's ability to secure contracts and deliver on projects, which is vital for growth.

$10.8B

Wall Street expectations, options signals, track record, and call prep available with Pro.

NOC Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+2.65%

Avg Stock Reaction

+0.03%

Last Quarter Recap

In Q1-2026, Northrop Grumman reported an EPS of $6.14, slightly beating estimates. However, the stock fell 6.98% the following day, indicating market disappointment despite the earnings beat.

Management Promises & Guidance

Focus on maintaining strong margins in defense contracts.
Commitment to innovation in aerospace technology.
Plans to enhance operational efficiency.

Expectations

Wall Street Expectations

Bull Case

If Northrop Grumman exceeds EPS expectations and shows strong revenue growth, it could signal robust demand for defense services, driving the stock higher.

Bear Case

Conversely, if the company misses earnings estimates or provides weak guidance, it could raise doubts about its future growth, leading to a significant drop in stock price.

Key Metrics to Watch

EPS

$6.83

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

Revenue

$10.8B

Total revenue reflects the company's ability to secure contracts and deliver on projects, which is vital for growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will EPS exceed the consensus estimate of $6.83?

A beat on EPS could indicate strong operational performance and boost investor confidence.

What is the outlook for revenue growth in the upcoming quarters?

Guidance on revenue growth will be critical for assessing the company's ability to maintain its market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of increased defense spending, which could lead to stronger-than-expected revenue growth.

Supporting Evidence

Historical performance shows a high EPS beat rate of 88%, indicating potential for positive surprises.

Options pricing suggests a significant move, reflecting market uncertainty that could favor a positive outcome.

Key Risk

If revenue growth comes in below $10.7B, it could challenge the optimistic outlook for the defense sector.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Northrop Grumman can sustain its recent growth amid rising costs and competition.

Bull Confirmed If

An EPS of $7.01 or higher with revenue exceeding $10.9B would confirm a strong bull case.

Bear Confirmed If

An EPS below $6.72 or revenue under $10.7B would support a bearish outlook.

Pre-Earnings Positioning

Options Market

Implied Move

±11.39%

Historical Avg

±5.1%

Pricing rich

The options market is pricing in a significant move, suggesting that investors anticipate volatility around the earnings announcement.

Options are pricing ±11.4% while NOC has averaged ±5.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

27.9%

Calls (77K)P/C Ratio: 0.16Puts (30K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Northrop Grumman beats expectations, history suggests the stock could rise by around 1.84%, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

A miss could lead to a decline of approximately 12.66%, reflecting investor disappointment and concerns over future growth.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$15,001.00–$50,000.00

disclosed dollar ranges

Most Active Members

D-TNSteve CohenRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new defense contracts or government spending initiatives.
2Details on cost management strategies and their impact on margins.
3Insights into R&D investments and technological advancements.
4Guidance on future revenue streams and market opportunities.
5Responses to competitive pressures in the aerospace and defense industry.