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 systems and solutions for government and commercial customers. With a market cap of $80 billion, the company is significant in areas such as national security and defense technology, which are increasingly important in today's geopolitical landscape.

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and financial health, which investors closely monitor.

$6.83

Revenue

Revenue figures reflect the company's ability to generate sales and are crucial for assessing 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

Expectations

Wall Street Expectations

Analysts expect Northrop Grumman to report strong earnings driven by defense contracts and government spending. The consensus EPS estimate is $6.83, reflecting optimism about continued demand.

Bull Case

If the company beats EPS expectations, it could signal robust operational performance and strong demand for its products, potentially leading to a positive stock reaction.

Bear Case

Conversely, if earnings fall short of expectations, it may raise concerns about contract delays or reduced government spending, leading to a negative market reaction.

Key Metrics to Watch

EPS

$6.83

Earnings per share is a key indicator of profitability and financial health, which investors closely monitor.

Revenue

$10.8B

Revenue figures reflect the company's ability to generate sales and are crucial for assessing 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 could reinforce confidence in Northrop Grumman's growth trajectory and operational efficiency.

What insights will management provide on revenue growth and future contracts?

Understanding revenue drivers and contract outlook is crucial for assessing the company's future performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of new defense contracts that could significantly boost revenue beyond current expectations.

Supporting Evidence

Northrop Grumman has a strong track record of beating EPS estimates, with an 88% success rate over the last eight quarters.

The options market is pricing a larger move than historical averages, indicating potential for significant volatility.

Recent government spending trends suggest increased budgets for defense, which may not be fully reflected in consensus estimates.

Key Risk

If the company fails to secure new contracts or reports lower-than-expected revenue, it could challenge the current bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing the potential for continued growth against risks associated with government spending and contract execution.

Bull Confirmed If

Earnings exceeding $6.83 with strong revenue growth would confirm the bullish outlook.

Bear Confirmed If

If EPS falls below $6.72, it would raise concerns about operational challenges and market demand.

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 traders expect 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

An in-line report may lead to muted reactions, as investors await further commentary on future growth prospects.

Miss

A miss could result in a significant drop, with historical patterns indicating an average decline of around 12.66%.

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

1Updates on new defense contracts and their expected impact on revenue.
2Management's outlook on government spending in the defense sector.
3Any changes to guidance or expectations for the remainder of the fiscal year.
4Details on operational efficiencies or cost management strategies.
5Insights into competitive positioning and market share in key segments.

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and financial health, which investors closely monitor.

$6.83

Revenue

Revenue figures reflect the company's ability to generate sales and are crucial for assessing 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

Expectations

Wall Street Expectations

Analysts expect Northrop Grumman to report strong earnings driven by defense contracts and government spending. The consensus EPS estimate is $6.83, reflecting optimism about continued demand.

Bull Case

If the company beats EPS expectations, it could signal robust operational performance and strong demand for its products, potentially leading to a positive stock reaction.

Bear Case

Conversely, if earnings fall short of expectations, it may raise concerns about contract delays or reduced government spending, leading to a negative market reaction.

Key Metrics to Watch

EPS

$6.83

Earnings per share is a key indicator of profitability and financial health, which investors closely monitor.

Revenue

$10.8B

Revenue figures reflect the company's ability to generate sales and are crucial for assessing 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 could reinforce confidence in Northrop Grumman's growth trajectory and operational efficiency.

What insights will management provide on revenue growth and future contracts?

Understanding revenue drivers and contract outlook is crucial for assessing the company's future performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of new defense contracts that could significantly boost revenue beyond current expectations.

Supporting Evidence

Northrop Grumman has a strong track record of beating EPS estimates, with an 88% success rate over the last eight quarters.

The options market is pricing a larger move than historical averages, indicating potential for significant volatility.

Recent government spending trends suggest increased budgets for defense, which may not be fully reflected in consensus estimates.

Key Risk

If the company fails to secure new contracts or reports lower-than-expected revenue, it could challenge the current bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing the potential for continued growth against risks associated with government spending and contract execution.

Bull Confirmed If

Earnings exceeding $6.83 with strong revenue growth would confirm the bullish outlook.

Bear Confirmed If

If EPS falls below $6.72, it would raise concerns about operational challenges and market demand.

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 traders expect 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

An in-line report may lead to muted reactions, as investors await further commentary on future growth prospects.

Miss

A miss could result in a significant drop, with historical patterns indicating an average decline of around 12.66%.

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

1Updates on new defense contracts and their expected impact on revenue.
2Management's outlook on government spending in the defense sector.
3Any changes to guidance or expectations for the remainder of the fiscal year.
4Details on operational efficiencies or cost management strategies.
5Insights into competitive positioning and market share in key segments.