Huntington Ingalls Industries See FY24 Free Cash Flow Of $600-$700M
Portfolio Pulse from Benzinga Newsdesk
Huntington Ingalls Industries (HII) forecasts FY24 free cash flow of $600-$700M, with shipbuilding revenue expected between $8.8B-$9.1B and operating margin at 7.6%-7.8%. Mission Technologies revenue is projected at $2.7B-$2.75B with an operating margin of 3.0%-3.5% and EBITDA margin of 8.0%-8.5%. Other financial metrics include an operating FAS/CAS adjustment of ($63M), an interest expense of ($90M), a non-operating retirement benefit of $178M, and an effective tax rate of ~21%.
February 01, 2024 | 12:18 pm
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Huntington Ingalls Industries forecasts a robust FY24 with free cash flow between $600M-$700M, indicating strong financial health and operational efficiency.
The positive forecast for FY24, including significant free cash flow and revenue growth in both shipbuilding and Mission Technologies, suggests a strong financial outlook for HII. This is likely to instill investor confidence and could lead to a positive short-term impact on HII's stock price.
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