RTTNews | Jan 28, 2021 06:59AM EST

06:58 Thursday, January 28, 2021 (RTTNews.com) - While reporting financial results for the fourth quarter on Thursday, Northrop Grumman Corp. (NOC) initiated its adjusted earnings and sales guidance for the full year 2021, well below analysts' expectations.

For fiscal 2021, the company now projects MTM-adjusted earnings in a range of $23.15 to $23.65 per share on sales between $35.10 billion and $35.50 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $24.19 per share on revenues of $37.45 billion for the year. Analysts' estimates typically exclude special items.

The company said the 2021 financial guidance contemplates completion of the Peraton transaction very soon, excluding gain on sale, transaction costs and make-whole provisions.

On Monday, the company's board of directors authorized a new share repurchase program of up to an additional $3.0 billion in share repurchases of the company's common stock, bringing the total outstanding authorization up to $5.8 billion.

Read the original article on RTTNews ( https://www.rttnews.com/3164368/northrop-grumman-initiates-fy21-outlook-below-estimates-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved