Company: NOC
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001133421-25-000053
Chunk: 92

Company: NORTHROP GRUMMAN CORP /DE/
Filing Date: 2025-10-21
Form: 10-Q
Item: Part I, Item 2
Chunk 92
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Space Systems(5)60 37 50 Eliminations(4)2 (9)(3)Net EAC adjustments$81 $136 $107 $268 

AERONAUTICS SYSTEMSThree Months Ended September 30%Nine Months Ended September 30%$ in millions20252024Change20252024ChangeSales$3,142 $2,961 6 %$9,070 $9,065 — %Operating income305 309 (1)%443 927 (52)%Operating margin rate9.7 %10.4 %4.9 %10.2 %

Sales

Current Quarter

Third quarter 2025 sales increased $181 million, or 6 percent, primarily due to a $110 million increase on the E-130J TACAMO (“TACAMO”) program as it ramps up and a $105 million increase on the F-35 program largely driven by materials volume, partially offset by a decrease on F/A-18 as production nears completion.

Year to Date

Year to date 2025 sales were comparable to the prior year period and reflect a $226 million increase on TACAMO as that program ramps and a $111 million increase on the F-35 program largely driven by materials volume, partially offset by lower sales on restricted programs, commercial aerostructures programs and on F/A-18 as production nears completion.

Operating Income 

Current Quarter

Third quarter 2025 operating income decreased $4 million, or 1 percent, due to a lower operating margin rate, partially offset by higher sales. Operating margin rate decreased to 9.7 percent from 10.4 percent, primarily due to lower net contract margin adjustments.

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Table of ContentsNORTHROP GRUMMAN CORPORATION                        

Year to Date

Year to date 2025 operating income decreased $484 million and operating margin rate decreased to 4.9 percent primarily due to the previously described $477 million loss provision recorded on the LRIP phase of the B-21 program in the first quarter of 2025.

DEFENSE SYSTEMSThree Months Ended September 30%Nine Months Ended September 30%$ in millions20252024Change20252024ChangeSales$2,059 $1,800 14 %$5,855 $5,396 9 %Less: Training services sales— (70)(112)(226)