Northrop Grumman first-quarter earnings and sales missed analysts’ estimates as delayed awards and higher-than-expected costs weighed on results, prompting it to cut its outlook for the year. The defense contractor said it experienced a slower ramp up in sales for the quarter due to the delay and booked an additional $477 million pretax loss on its B-21 bomber program,

Northrop Grumman Corp. reported lower first-quarter profit than analysts expected and cut its earnings outlook for the year as manufacturing costs rose and the company stepped up investments in production of the B-21 bomber.