Overview
Huntington Ingalls fiscal Q3 revenue rose 16.1% yr/yr to $3.2 bln, beating expectations
Net earnings for fiscal Q3 were $145 mln, with EPS of $3.68
Adjusted operating income for fiscal Q3 missed analyst estimates
Outlook
HII sees FY25 shipbuilding revenue between $9.0 bln and $9.1 bln
Company expects FY25 Mission Technologies revenue between $3.0 bln and $3.1 bln
HII raises FY25 free cash flow guidance to $550 mln to $650 mln
Result Drivers
SHIPBUILDING GROWTH - Revenue growth driven by higher volumes in surface combatants, submarines, and aircraft carriers at Newport News and Ingalls Shipbuilding
SUPPLY CHAIN INVESTMENTS - Targeted investments in workforce and supply chain are strengthening shipbuilding throughput, per CEO Chris Kastner
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$3.20 bln
$2.95 bln (9 Analysts)
Q3 EPS
$3.68
Q3 Net Income
$145 mln
Q3 Adjusted Operating Income
Miss
$65 mln
$142.97 mln (9 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the aerospace & defense peer group is "buy."
Wall Street's median 12-month price target for Huntington Ingalls Industries Inc is $305.00, about 2.2% above its October 29 closing price of $298.42
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nGNX8dHGyC
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)