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American City Business Journals

Falls Church-based Northrop Grumman raises 2023 revenue guidance on ‘strong recent global demand growth’

Northrop Grumman Corp. (NYSE: NOC) expects a strong 2023 amid a rise in global defense budgets and a huge backlog it expects to grow larger in the coming year. The Falls Church contracting giant, which released its fourth quarter earnings Thursday, ended 2022 with $36.6 billion in sales, coming in at the top end of its guidance for the year. The C-suite boasted about a backlog more than two times its annual sales, with awards such as an $80 billion, multiyear contract to develop the new B-21 Raider for the U.S. Air Force and a $2 billion award to provide rockets for United Launch Alliance that will support Amazon’s Project Kuiper, an satellite internet service.

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