Northrop Grumman Corporation (NOC) is scheduled to release its second-quarter 2026 financial results on July 21, before the market opens.
The defense giant delivered an earnings surprise of 0.99% in its last reported quarter, setting a positive tone heading into this cycle.
Analysts expect the company’s second-quarter earnings to have benefited from solid demand, supported by one of the strongest backlogs in the defense industry.
Continued geopolitical tensions, rising U.S. and allied defense spending, and demand for advanced aircraft, missile defense, space systems, and autonomous technologies are expected to have driven new contract awards.
Management previously stated that it expects “high single-digit sequential sales growth” in the second quarter, pointing to broad-based improvement across all four operating segments.
Segment operating margins are expected to improve, driven by stronger operational performance, favorable production timing, and a better business mix heading into the back half of the year.
NOC’s top line is likely to have benefited from the ramp-up of major programs, particularly in missile systems, airborne radar, and strategic modernization efforts transitioning into higher production phases.
The Sentinel program remains a key long-term growth driver but also represents the company’s biggest execution risk, with ongoing discussions around revised costs, timelines, and contract terms.
The Zacks Consensus Estimate for NOC’s second-quarter earnings stands at $6.84 per share, indicating a year-over-year decrease of 3.8%, while the revenue estimate of $10.78 billion implies year-over-year growth of 4.1%.
The Zacks model currently predicts an earnings beat for Northrop Grumman, with an Earnings ESP of +0.22% and a Zacks Rank of 3, a combination that historically increases the likelihood of a positive surprise.
RTX Corporation (RTX) is also likely to post an earnings beat when it reports second-quarter results on July 23, carrying an Earnings ESP of +2.02% and a Zacks Rank of 2, with consensus sales estimates pointing to growth of 5.8% year-over-year.
RTX delivered an impressive average earnings surprise of 12.7% across the trailing four quarters, reinforcing expectations for another strong performance this reporting cycle.
General Dynamics (GD) is expected to report second-quarter earnings on July 29 before market open, with an Earnings ESP of +2.94%, a Zacks Rank of 2, and consensus sales growth of 3.2% projected year-over-year.
General Dynamics has delivered an average earnings surprise of 5.3% over the trailing four quarters, keeping investor confidence steady heading into its upcoming report.
L3Harris Technologies (LHX) rounds out the group of defense peers expected to beat estimates, carrying an Earnings ESP of +3.02% and a Zacks Rank of 3 ahead of its July 29 after-market-close report, with consensus sales implying year-over-year growth of 6.6%.
