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NORTHROP GRUMMAN News Release Contact : Vic Beck ( Media ) 703-280-4456 ( office ) vic.beck@ngc.com Todd Ernst ( Investors ) 703-280-4535 ( office ) todd.ernst@ngc.com Northrop Grumman Reports First Quarter 2021 Financial Results • Sales Increase 6 Percent to $ 9.2 Billion • EPS Increase to $ 13.43 • Excluding $ 1.1 Billion IT Services Sale Benefit , Transaction - adjusted EPS¹ Increase 28 Percent to $ 6.57 • Net Awards Total $ 8.9 Billion • • During the Quarter the Company Entered into a $ 2.0 Billion Accelerated Share Repurchase Agreement and Retired $ 2.2 Billion of Debt Company Raises 2021 Sales Guidance to $ 35.3 to $ 35.7 billion and Transaction - adjusted EPS Guidance to $ 24.00 to $ 24.50 FALLS CHURCH , Va . - April 29 , 2021 - Northrop Grumman Corporation ( NYSE : NOC ) reported first quarter 2021 sales increased 6 percent to $ 9.2 billion from $ 8.6 billion in the first quarter of 2020. First quarter 2021 net earnings increased 153 percent to $ 2.2 billion , or $ 13.43 per diluted share from $ 868 million , or $ 5.15 per diluted share , in the first quarter of 2020. First quarter 2021 results reflect the IT services divestiture effective as of Jan. 30 , 2021 , including a net after - tax benefit of $ 1.1 billion , or $ 6.86 per diluted share . " First quarter results are a strong start to the year and a continuation of the positive performance we delivered in 2020 , " said Kathy Warden , chairman , chief executive officer and president . " Our team booked competitive new awards and generated higher sales , earnings and cash . These strong operational results , coupled with portfolio shaping , enabled value - creating capital deployment for our shareholders . Based on our strong first quarter results and solid outlook for the year , we are raising 2021 sales and EPS guidance . " 1 Non - GAAP measure - see definitions at the end of this earnings release . Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church , VA 22042-4511 news.northropgrumman.com