On its Q3 earnings conference call, Northrop Grumman confirmed that notified the Navy that it will not be submitting a bid on the MQ-25 program. “Our assessment of the final RFP, which required a fixed-price incentive bid for this development work, was that we could not put forward an attractive offering to the Navy that would represent a reasonable business proposition for our company,” the company said, adding that it has submitted a bit for the Joint STARS recap program as a prime. Looking ahead, Northrop Grumman raised its 2017 sales guidance for aerospace systems to $11.7B-$11.8B vs. prior guidance of $11.5B-$11.7B. The company sees 2017 mission systems sales $11.2B-$11.3B, narrowed from the previous guidance of $11.B-$11.3B. The company forecast technology services sales view for 2017 of about $4.7B, the high end of its prior range of $4.5B-$4.7B. Northrop Grumman is up 2.15% to $300.36 in afternoon trading.
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