Huntington Ingalls Completes Sea Trials For US Coast Guard's New Security Cutter
Portfolio Pulse from Nabaparna Bhattacharya
Huntington Ingalls Industries, Inc. (NYSE:HII) has successfully completed sea trials for the U.S. Coast Guard's newest national security cutter, Calhoun (WMSL 759). The company has delivered nine legend-class national security cutters to the Coast Guard. However, Ingalls Shipbuilding revenues for the first quarter of 2023 were $577 million, a decrease of 8.6% from the same period in 2022, primarily due to lower revenues in amphibious assault ships and the Legend-class National Security Cutter (NSC) program. HII shares are trading higher by 0.53% to $228.79.
July 03, 2023 | 4:51 pm
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Huntington Ingalls has completed sea trials for a new cutter for the US Coast Guard. Despite a decrease in Q1 2023 revenues, HII shares are trading higher.
The successful completion of the sea trials for the new cutter is a positive development for Huntington Ingalls, indicating progress in their projects. However, the company reported a decrease in Q1 2023 revenues, which could be a concern for investors. Despite this, HII shares are trading higher, suggesting that the market may be focusing more on the positive news of the completed sea trials.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100