Huntington Ingalls Beats Q2 Street Expectation, Reaffirms FY23 Guidance
Portfolio Pulse from Akanksha Bakshi
Huntington Ingalls Industries Inc (NYSE:HII) reported a 4.7% YoY increase in Q2 FY23 sales and service revenue to $2.79 billion, beating the consensus of $2.73 billion. EPS was $3.27, beating the consensus of $3.14. However, operating income declined by 18.3% YoY to $156 million. The company reaffirmed its FY23 outlook, expecting a free cash flow of $400 million-$450 million and cumulative FY20-FY24 free cash flow of ~$2.9 billion. HII shares traded higher by 1.61% at $231.48 on the last check Thursday.
August 04, 2023 | 1:33 pm
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Huntington Ingalls Industries reported better than expected Q2 FY23 results, but saw a decline in operating income. The company reaffirmed its FY23 outlook, which may have contributed to the increase in its stock price.
Huntington Ingalls Industries reported better than expected Q2 FY23 results, which is a positive signal for investors. However, the decline in operating income could be a concern. The reaffirmation of the FY23 outlook indicates the company's confidence in its future performance, which could have contributed to the increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100