{"id":58785,"date":"2020-10-22T19:40:05","date_gmt":"2020-10-22T11:40:05","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/northrop-grumman-space-segment-posts-17-sales-increase-in-q3\/"},"modified":"2020-10-22T19:40:05","modified_gmt":"2020-10-22T11:40:05","slug":"northrop-grumman-space-segment-posts-17-sales-increase-in-q3","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/northrop-grumman-space-segment-posts-17-sales-increase-in-q3\/","title":{"rendered":"Northrop Grumman Space Segment Posts 17% Sales Increase in Q3"},"content":{"rendered":"<\/p>\n<p><strong>Northrop Grumman<\/strong> reported a strong Third Quarter (Q3), led by double-digit sales increase in its Space Systems segment. Space Systems sales increased 17% from Q3 2019, to about $2.2 billion. Space sales have increased 13% Year to Date (YTD).&nbsp;<\/p>\n<p>Northrop Grumman attributed the increase in Space Systems to higher sales in both Space and Launch &amp; Strategic Missiles. Space sales were driven by higher volume on restricted programs, Next Generation Overhead Persistent Infrared (Next Gen OPIR) and NASA Artemis programs. Launch &amp; Strategic Missiles sales reflect higher volume on launch vehicles and hypersonics programs, partially offset by lower volume on the Commercial Resupply Service (CRS) missions.<\/p>\n<p>In a Thursday call with investors, Kathy Warden, chairman, CEO and president highlighted two contract awards in Q3 for Space Systems: a $13.3 billion contract for the engineering and manufacturing development (EMD) phase of the Ground Based Strategic Deterrent (GBSD) program; and a <strong>U.S. Space Force<\/strong> contract for the rapid prototyping phase of the Evolved Strategic SATCOM (ESS) program. Northrop Grumman is one of three companies to compete for this award, along with <strong>Boeing<\/strong> and <strong>Lockheed Martin<\/strong>. Warden said the ESS award is a multi-billion dollar program opportunity.&nbsp;<\/p>\n<p>Overall, Northrop Grumman reported Q3 sales of $9.1 billion, a 7% increase over Q3 2019. The company increased its 2020 financial guidance, forecasting sales of between $35.7 billion to $36 billion, up from a range of $35.3 billion to $35.6 billion forecasted at the end of July.&nbsp;<\/p>\n<p>Third quarter and YTD 2020 net awards totaled $20.3 billion and $43.0 billion, respectively, and backlog increased to $81.3 billion. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Northrop Grumman reported a strong Third Quarter (Q3), led by double-digit sales increase in its Space Systems segment. Space Systems sales increased 17% from Q3 2019, to about $2.2 billion. Space sales have increased 13% Year to Date (YTD).&nbsp; Northrop Grumman attributed the increase in Space Systems to higher sales in both Space and Launch [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":58786,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-58785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/58785"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=58785"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/58785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/58786"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=58785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=58785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=58785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}