Production of the U.S. Navy’s F-18 fighter jet may be slowing down, but Falls Church-based Northrop Grumman Corp. is still making a steady paycheck from it.
“F-18 has been a great program for this company and continues to be,” company Chief Financial Officer Ken Bedingfield told investors this week at Citi’s Industrials Conference in Boston, adding that it’s also a “nice margin generator.”
He also said that Northrop (NYSE: NOC) still makes about $600 million a year producing F-18s at facilities in El Segundo, California. Northrop shares work with The Boeing Co. (NYSE: BA), handling about 40 percent of its production.
Company Treasurer Stephen Movius elaborated further on those figures, explaining that about $400 million of those sales come from the production of F/A-18E/F Super Hornets, a multirole strike aircraft. The other $200 million comes from EA-18G Growlers. The Growler has a very similar airframe, engine and avionics suite, but its gun is replaced with an electronic attack…
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