HII Lowers FY24 Shipbuilding Revenue Outlook From $8.8B-$9.1B To ~$8.8B, Raises Technologies Revenue From $2.75B-$2.80B To $2.80B-$2.85B
Portfolio Pulse from Benzinga Newsdesk
HII has adjusted its FY24 financial outlook, lowering shipbuilding revenue expectations to approximately $8.8B and raising Mission Technologies revenue to $2.8B-$2.85B. The company also revised its operating margins and free cash flow projections.
October 31, 2024 | 11:20 am
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HII has revised its FY24 financial outlook, reducing shipbuilding revenue expectations to approximately $8.8B and increasing Mission Technologies revenue to $2.8B-$2.85B. Operating margins and free cash flow projections have also been adjusted.
The adjustment in revenue expectations for HII's shipbuilding and Mission Technologies segments indicates a mixed outlook. While shipbuilding revenue is expected to decrease, the increase in Mission Technologies revenue suggests growth in that segment. The changes in operating margins and free cash flow projections reflect a cautious approach to financial management. Overall, the impact on HII's stock price in the short term is likely neutral as the positive and negative adjustments may offset each other.
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