-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：諾斯羅普·格魯曼公司（NOC）公佈了強勁的第一季業績，銷售額同比增長4.4%至99億美元（超出市場預期1.25億美元），每股收益同比增長85%至6.14美元（超出市場預期0.14美元），主要得益於去年同比增長85%至6.14美元（超出市場預期0.14美元），主要得益於去年4.77億美元的航空系統業務由1.83億美元的營運虧損轉為3.05億美元的獲利，反映了營運的復甦和B-21生產協議的達成。本季業績進一步印證了我們先前的觀點，即在去年提列B-21損失準備金後，NOC的業績正在趨於穩定，戰略威懾和彈藥項目的逐步推進支撐了其潛在的成長。管理層強調了B-21產能擴張，並重申了2026年自由現金流預期為31億至35億美元，但同時暫停了股票回購，以資助內生性投資。我們認為，956億美元的積壓訂單能夠確保未來多年的收入可見性，但複雜研發項目的執行風險仍然存在。我們認為，公司未來的成長軌跡很大程度上取決於B-21產能的加速提升以及未來12至18個月內「哨兵」飛彈基線的穩定性。
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