Northrop Grumman Corporation has priced a $2.5 billion underwritten public offering of senior unsecured notes. The offering includes $500 million of 4.600% senior notes due 2029, $850 million of 4.900% senior notes due 2034, and $1.15 billion of 5.200% senior notes due 2054. The company expects to use the net proceeds for general corporate purposes, including debt repayment, share repurchases, and working capital. The offering is anticipated to close on January 31, 2024.
Vic Beck, Northrop Grumman's media contact, stated, "This offering will provide us with the financial flexibility to support our business objectives and enhance shareholder value."
Todd Ernst, the company's investor contact, added, "We believe this offering demonstrates our commitment to maintaining a strong financial position and capital structure while continuing to invest in our business for the long term."
Northrop Grumman Corporation, a leading global aerospace and defense technology company, is focused on equipping its customers with the capabilities they need to connect and protect the world. The company's shares have moved 0.6%, and are now trading at a price of $440.94.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $30,095 | $33,841 | $36,799 | $35,667 | $36,602 | $38,685 |
| Revenue Growth | n/a | 12.45% | 8.74% | -3.08% | 2.62% | 5.69% |
| Operating Margins | 13% | 12% | 11% | 16% | 10% | 10% |
| Net Margins | 11% | 7% | 9% | 20% | 13% | 12% |
| Net Income (MM) | $3,229 | $2,248 | $3,189 | $7,005 | $4,896 | $4,671 |
| Net Interest Expense (MM) | $562 | $528 | $593 | $556 | $506 | $537 |
| Earnings Per Share | $18.49 | $13.22 | $19.03 | $43.54 | $31.47 | $30.44 |
| EPS Growth | n/a | -28.5% | 43.95% | 128.8% | -27.72% | -3.27% |
| Diluted Shares (MM) | 173 | 168 | 167 | 161 | 156 | 152 |
| Free Cash Flow (MM) | $2,578 | $3,033 | $2,885 | $2,152 | $1,466 | $2,092 |
| Capital Expenditures (MM) | $1,249 | $1,264 | $1,420 | $1,415 | $1,435 | $1,604 |
| Current Ratio | 1.17 | 1.13 | 1.6 | 1.3 | 1.08 | 1.28 |
