Huntington Ingalls Cruises Past Forecasts: Q4 Sales And Earnings Spike, 2024 Outlook Fuel Optimism
Portfolio Pulse from Anusuya Lahiri
Huntington Ingalls Industries Inc (NYSE:HII) reported a significant increase in Q4 FY23 sales and earnings, surpassing consensus estimates. Sales and service revenue rose 13% Y/Y to $3.18 billion, with EPS at $6.90. Operating income and segment operating income saw substantial growth. The company announced new contract awards totaling $12.5 billion for 2023, with a backlog of $48.1 billion. FY24 outlook includes shipbuilding revenue of $8.8 billion-$9.1 billion and Mission Technologies revenue of $2.70 billion-$2.75 billion. HII shares rose 1.26% to $262.19.
February 01, 2024 | 6:19 pm
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Huntington Ingalls Industries Inc reported strong Q4 FY23 results, with significant increases in sales, earnings, and new contract awards. The company provided an optimistic FY24 outlook.
Huntington Ingalls's Q4 FY23 performance exceeded expectations with higher sales, earnings, and a strong backlog, indicating robust demand for its shipbuilding and mission technologies. The positive FY24 outlook and increased share price reflect investor optimism, suggesting a likely short-term upward trend in HII's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100