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Northrop Grumman Boosts 2020 Sales, Profit Guidance

By Matt Grossman

Northrop Grumman Corp. on Thursday nudged higher its sales and profit guidance for the full year, as the company posted better-than-expected third-quarter results.

The Falls Church, Va.-based aerospace-and-defense company said it expects full-year revenue of $35.7 billion to $36 billion, compared with a previous guidance range of $35.3 billion to $35.6 billion.

It forecast full-year adjusted earnings of $22.25 to $22.65 a share, compared with a prior forecast of per-share earnings that called for $22 to $22.40.

Analysts surveyed by FactSet had forecast full-year revenue of $35.47 billion and adjusted earnings of $22.50 a share.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

October 22, 2020 07:20 ET (11:20 GMT)

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