Northrop Grumman Corporation. (NYSE:NOC) Q2 2024 Earnings Conference Call July 25, 2024 9:00 AM ET

Company Participants

Todd Ernst - VP, IR
Kathy Warden - Chair, CEO and President
Dave Keffer - CFO

Conference Call Participants

Kristine Liwag - Morgan Stanley
Scott Deuschle - Deutsche Bank
Rob Stallard - Vertical Research
Jason Gursky - Citi
Sheila Kahyaoglu - Jefferies
Seth Seifman - JPMorgan
Gavin Parsons - UBS
Cai von Rumohr - TD Cowen
Doug Harned - Bernstein
Myles Walton - Wolfe Research
Matt Akers - Wells Fargo
Pete Skibitski - Alembic Global
Scott Mikus - Melius Research
Peter Arment - Baird
David Strauss - Barclays

Operator

Good day, ladies and gentlemen, and welcome to Northrop Grumman's Second Quarter 2024 Conference Call. Today's call is being recorded. My name is Josh and I will be your operator today. At this time, all participants are in a listen-only mode.

I would now like to turn the call over to your host, Mr. Todd Ernst, Vice President, Investor Relations. Mr. Ernst, please proceed.

Todd Ernst

Thanks Josh and good morning everyone and welcome to Northrop Grumman's second quarter 2024 conference call. Before we start, matters discussed on today's call, including guidance and outlooks for 2024 and beyond reflect the company's judgment based on information available at the time of this call. They constitute forward-looking statements pursuant to Safe Harbor provisions of federal securities laws.

Forward-looking statements involve risks uncertainties, including those noted in today's press release and our SEC filings. These risks and uncertainties may cause actual company results to differ materially.

Today's call will include non-GAAP financial measures that are reconciled to our GAAP results in our earnings release. And also, we will refer to a presentation that is posted on our Investor Relations website.

On the call today are Kathy Warden, our Chair, CEO and President; Dave Keffer, our CFO.

At this time, I'd like to turn the call over to Kathy. Kathy?

Kathy Warden

Thanks, Todd. Good morning, everyone. Thank you for joining us. As you saw from this morning's earnings release, we delivered excellent operating results again this quarter, building on our momentum from the first quarter.

Our company's ability to respond to U.S. and international customer requirements with a wide range of advanced capabilities continues to drive strong growth, with sales up 7% in the quarter and 8% year-to-date. And our team's solid program performance, along with cost management discipline, led to operating income growth of 13% in the second quarter.