# Northrop Grumman Backlog Hits $109.6 Billion as Adjusted EPS Outlook Rises By John Kim Canonical URL: https://www.tokenpost.com/news/business/35929 Published: 2026-10-20T20:03:45.000Z Updated: 2026-10-20T20:03:45.000Z Section: Business > Third-quarter net awards totaled $16.4 billion, while sales rose 7% to $11.1 billion. Northrop Grumman Corporation raised its 2026 mark-to-market-adjusted earnings-per-share outlook Oct. 20 after third-quarter profit beat estimates and its backlog reached $109.6 billion, despite a narrower operating margin. The defense contractor earned $7.89 per diluted share in the third quarter of 2026, up from $7.67 a year earlier and above the $7.18 analyst consensus. Sales increased 7% to $11.1 billion. Backlog at Sept. 30, 2026, was 15% higher than the $95.7 billion recorded at the end of 2025. The company booked $16.4 billion in net awards during the quarter, including $2 billion for the Sentinel program and $1.3 billion for F-35 work. Sales grew 14% in Aeronautics Systems and 12% in Defense Systems. Northrop’s overall operating margin narrowed to 11.4% from 11.9% a year earlier. Backlog and margins were among the measures highlighted in [an earlier defense earnings preview](). Northrop now expects 2026 mark-to-market-adjusted earnings of $29.35 to $29.75 per share, up from its previous range of $28.60 to $29.10. ## Links in this article - [an earlier defense earnings preview](https://www.tokenpost.com/news/business/33577)