Northrop Grumman Announces New $2.5 Billion Share Repurchase Authorization

FALLS CHURCH, Va., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) announced today that its board of directors has authorized an additional $2.5 billion for the repurchase of the company's common stock, increasing the outstanding authorized amount to approximately $3.8 billion. Share repurchases will take place from time to time, subject to market conditions and management's discretion, in the open market or in privately negotiated transactions.

Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers’ toughest problems, our employees define possible every day.

Note: Statements in this press release contain or may contain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “anticipate,” “intend,” “may,” “could,” “should,” “plan,” “project,” “forecast,” “believe,” “estimate,” “guidance,” “outlook,” “trends,” “goals” and similar expressions generally identify these forward-looking statements. These forward-looking statements speak only as of the date when made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements after the date of this release, except as required by applicable law. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. A discussion of these risks and uncertainties is contained in the Company’s filings with the Securities and Exchange Commission.