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Jun 30, 2023
Huntington Ingalls Q2 2023 Earnings Report
Huntington Ingalls reported record second quarter revenues and reaffirmed FY23 guidance.
Key Takeaways
Huntington Ingalls Industries (HII) reported a 4.7% increase in revenue to $2.8 billion for the second quarter of 2023, driven by growth in Newport News Shipbuilding and Mission Technologies. Net earnings were $130 million, or $3.27 diluted earnings per share. The company reaffirmed its shipbuilding and Mission Technologies FY23 guidance and free cash flow guidance.
Record second quarter revenues of $2.8 billion, up 4.7% compared to second quarter 2022
Net earnings of $130 million or $3.27 diluted earnings per share
Company reaffirms shipbuilding and Mission Technologies FY23 guidance
Company reaffirms free cash flow guidance
Revenue by Segment
Forward Guidance
HII reaffirms shipbuilding and Mission Technologies 2023 guidance, reaffirms free cash flow guidance and revises operating FAS/CAS adjustment, non-current state income tax and interest expense guidance
Positive Outlook
- Expect FY23 shipbuilding revenue between $8.4 and $8.6 billion
- Expect FY23 shipbuilding operating margin between 7.7% and 8.0%
- Expect FY23 Mission Technologies revenue of approximately $2.5 billion
- Expect Mission Technologies segment operating margin between 2.5% and 3.0%, and Mission Technologies EBITDA margin between 8.0% and 8.5%
- Expect FY23 free cash flow between $400 and $450 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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