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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Scott Deuschle | Deutsche Bank | 16 questions · 6% challenging |
| Seth Seifman | JPMorgan | 15 questions · 0% challenging |
| Ron Epstein | Bank of America | 13 questions · 23% challenging |
| Kristine Liwag | Morgan Stanley | 12 questions · 17% challenging |
| Sheila Kahyaoglu | Jefferies | 12 questions · 8% challenging |
| Rob Stallard | Vertical Research Partners | 10 questions · 10% challenging |
| Doug Harned | Bernstein | 10 questions · 10% challenging |
| Myles Walton | Wolfe Research | 9 questions · 11% challenging |
| Gavin Parsons | UBS | 7 questions · 0% challenging |
| Peter Arment | Robert W. Baird | 6 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Deutsche Bank | 1 analyst | 16 questions · 6% challenging |
| JPMorgan | 1 analyst | 15 questions · 0% challenging |
| Bank of America | 1 analyst | 13 questions · 23% challenging |
| Morgan Stanley | 1 analyst | 12 questions · 17% challenging |
| Jefferies | 1 analyst | 12 questions · 8% challenging |
| Bernstein | 1 analyst | 10 questions · 10% challenging |
| Vertical Research Partners | 1 analyst | 10 questions · 10% challenging |
| Citigroup | 2 analysts | 9 questions · 0% challenging |
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Calendar quarter Q1 2026Earnings call Apr 21, 2026
FY2026 Q1 in brief
Northrop Grumman reported Q1 revenue of $9.9 billion, up 4% year-over-year with organic sales up 5%, as segment operating income grew to over $1 billion with margins improving to 10.8% and B-21 production rate acceleration advanced.
Newest quarter FY2026 Q3 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for Northrop Grumman (NOC), FY2026 Q1: 6/10. Scores: Northrop Grumman’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: NOC daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Northrop Grumman reported Q1 revenue of $9.9 billion, up 4% year-over-year with organic sales up 5%, as segment operating income grew to over $1 billion with margins improving to 10.8% and B-21 production rate acceleration advanced. Management reaffirmed FY2026 guidance across all metrics, increasing CAPEX by $200 million to $1.85 billion for B-21 investments while the Sentinel ICBM program acceleration, weapons capacity expansion, and historic defense budget tailwinds supported the multi-year growth trajectory.
GAAP revenue YoY +4.36% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Product Launch | Demand | Revenue Growth | Competitive Dynamics | Capital Allocation | Margin | Geographic Expansion | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 5 | 5 | 7 | 5 | 5 | 2 | 2 |
| 2025Q1 | 10 | 6 | 5 | 3 | 3 | 1 | 3 | 3 |
| 2025Q2 | 7 | 4 | 4 | 4 | 4 | 3 | 3 | 2 |
| 2025Q3 | 10 | 9 | 5 | 1 | 2 | 2 | 2 | |
| 2025Q4 | 5 | 5 | 5 | 2 | 5 | 3 | 2 | 3 |
| 2026Q1 | 1 | 2 | 7 | 3 | 2 | 3 | 3 | |
| 2026Q2 | 7 | 6 | 2 | 1 | 6 | 1 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Product Launch | 9 | 10 | 7 | 10 | 5 | 1 | |
| Demand | 5 | 6 | 4 | 9 | 5 | 2 | 7 |
| Revenue Growth | 5 | 5 | 4 | 5 | 5 | 7 | 6 |
| Competitive Dynamics | 7 | 3 | 4 | 1 | 2 | 3 | 2 |
| Capital Allocation | 5 | 3 | 4 | 2 | 5 | 2 | 1 |
| Margin | 5 | 1 | 3 | 3 | 3 | 6 | |
| Geographic Expansion | 2 | 3 | 3 | 2 | 2 | 3 | 1 |
| Guidance Reliability | 2 | 3 | 2 | 2 | 3 | 4 |
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $10.69B | +0.5% | $8.66 | +344.6% | 10.2% | 11.8% | $1.76B |
| FY2025 Q1 | $9.47B | -6.6% | $3.32 | -47.5% | 6.1% | 5.1% | $-1.82B |
| FY2025 Q2 | $10.35B | +1.3% | $8.15 | +28.1% | 13.8% | 11.3% | $637M |
| FY2025 Q3 | $10.42B | +4.3% | $7.67 | +9.6% | 11.9% | 10.6% | $1.26B |
| FY2025 Q4 | $11.71B | +9.6% | $9.99 | +15.4% | 10.9% | 12.2% | $3.23B |
| FY2026 Q1Selected | $9.88B | +4.4% | $6.14 | +84.9% | 10.0% | 8.9% | $-1.82B |
| FY2026 Q2 | $10.88B | +5.1% | $7.68 | -5.8% | 10.1% | 10.1% | $978M |
| FY2026 Q3 | $11.12B | +6.7% | $7.89 | +2.9% | 11.4% | 10.1% | $1.44B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What NOC said about other companies on its FY2026 Q1 call, and what other companies said about NOC on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Northrop Grumman is looking at expanding a solid rocket motor business potentially into Patriot”
Northrop Grumman is a potential expanding source of solid rocket motors for the Patriot/PAC-3 supply chain, easing a key production pinch point.
“as we are a key Tier 1 supplier to Northrop Grumman on that program, we will follow where that sentinel program continues to grow.”
Textron Systems is a key Tier 1 supplier to Northrop Grumman on the Sentinel ICBM program, a signal on Sentinel production ramp for Northrop.
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| NOCNorthrop Grumman | 6 | +4.4% | B-21 Production Rate Acceleration | |
| ACHRArcher Aviation Inc. | 5 | n/a | Archer Aviation, a pre-commercial eVTOL developer, remained pre-revenue and deeply loss-making in Q1 (GAAP EPS of -$0.28) while emphasizing execution across its civil, defense and software lines | |
| AXONAxon Enterprise Inc. | 10 | +33.8% | AI Era Plan Driving Explosive Adoption | |
| BAThe Boeing Company | 7 | +14.0% | 737 production stabilized at 42/month, rate 47 this summer | |
| GDGeneral Dynamics | 8 | +10.3% | Strong Revenue Growth Across All Segments | |
| GEGE Aerospace | 7 | +24.7% | Exceptional Commercial Services Growth | |
| HIIHuntington Ingalls Industries | 6 | +13.3% | Strong Shipbuilding Revenue Growth Continues at 18% | |
| HWMHowmet Aerospace | 9 | +19.1% | Record Q1 Revenue Up 19% with 32% EBITDA Margin | |
| LHXL3Harris | 8 | +11.9% | Revenue surged to $5.7 billion with 15% organic growth and broad-based strength across all segments, while GAAP EPS of $2.72 rose 33% year-over-year | |
| LMTLockheed Martin | 4 | +0.3% | Munitions Production Ramp Accelerates | |
| LUNRIntuitive Machines, Inc. | 3 | +198.7% | Intuitive Machines reported record first-quarter revenue of $186.7 million, roughly 3x the prior-year quarter, though the increase was driven almost entirely by the January 2026 Lanteris acquisition rather than organic growth | |
| RKLBRocket Lab USA, Inc. | 8 | +63.5% | Rocket Lab delivered its strongest first quarter ever, with record revenue of $200.3 million, up 63.5% year-over-year and just above the high end of guidance, led by Space Systems at $136.7 million (up 57.2%) | |
| RTXRTX Corporation | 9 | +8.7% | Strong Organic Growth Across All Three Channels | |
| SPCXSpace Exploration Technologies Corp. | Has not reported Q1 2026 | n/a | Has not reported Q1 2026 | |
| TDGTransDigm Group | 10 | +18.3% | TransDigm delivered a beat-and-raise second quarter, with GAAP revenue up roughly 18% year over year (organic growth of approximately 11%) as all three channels grew: commercial aftermarket rose about 14%, commercial OEM about 12%, and defense about 11% | |
| TXTTextron | 7 | +11.8% | Industrial Separation Announced to Create Pure-Play A&D |
B-21 Production Rate Acceleration
Archer Aviation, a pre-commercial eVTOL developer, remained pre-revenue and deeply loss-making in Q1 (GAAP EPS of -$0.28) while emphasizing execution across its civil, defense and software lines
737 production stabilized at 42/month, rate 47 this summer
| Company | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|
| NOC | 6 | 1 | 7 | 8 | 9 | 6 |
| ACHR | 5 | 5 | 5 | 5 | 5 | 5 |
| AXON | 8 | 8 | 8 | 8 | 10 | 10 |
| BA | 2 | 8 | 8 | 8 | 9 | 7 |
| GD | 8 | 8 | 8 | 8 | 6 | 8 |
| GE | 6 | 8 | 9 | 9 | 9 | 7 |
| HII | 3 | 5 | 7 | 9 | 9 | 6 |
| HWM | 9 | 9 | 9 | 9 | 9 | 9 |
| LHX | 8 | 5 | 7 | 8 | 7 | 8 |
| LMT | 6 | 7 | 6 | 8 | 7 | 4 |
| LUNR | 8 | 3 | 5 | 2 | 3 | 3 |
| RKLB | 8 | 8 | 8 | 8 | 8 | 8 |
| RTX | 9 | 6 | 5 | 9 | 7 | 9 |
| SPCX | No score | No score | No score | No score |
Strong Revenue Growth Across All Segments
Strong Shipbuilding Revenue Growth Continues at 18%
Revenue surged to $5.7 billion with 15% organic growth and broad-based strength across all segments, while GAAP EPS of $2.72 rose 33% year-over-year
Intuitive Machines reported record first-quarter revenue of $186.7 million, roughly 3x the prior-year quarter, though the increase was driven almost entirely by the January 2026 Lanteris acquisition rather than organic growth
Rocket Lab delivered its strongest first quarter ever, with record revenue of $200.3 million, up 63.5% year-over-year and just above the high end of guidance, led by Space Systems at $136.7 million (up 57.2%)
Has not reported Q1 2026
TransDigm delivered a beat-and-raise second quarter, with GAAP revenue up roughly 18% year over year (organic growth of approximately 11%) as all three channels grew: commercial aftermarket rose about 14%, commercial OEM about 12%, and defense about 11%
| No score |
| No score |
| TDG | 9 | 7 | 8 | 9 | 7 | 10 |
|---|
| TXT | 3 | 5 | 5 | 7 | 9 | 7 |
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