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Dec 31, 2022
Huntington Ingalls Q4 2022 Earnings Report
Reported a revenue increase and earnings per share in Q4 2022.
Key Takeaways
HII reported a 5.0% increase in Q4 2022 revenues, reaching $2.8 billion. Diluted earnings per share increased to $3.07, compared to $2.99 in Q4 2021. New contract awards in the fourth quarter of 2022 were approximately $3.2 billion, bringing total backlog to approximately $47.1 billion as of December 31, 2022.
Revenues were $2.8 billion in the fourth quarter, a 5.0% increase from Q4 2021.
Diluted earnings per share was $3.07 in the fourth quarter, compared to $2.99 in Q4 2021.
New contract awards in the fourth quarter of 2022 were approximately $3.2 billion.
Total backlog reached approximately $47.1 billion as of December 31, 2022.
Revenue by Segment
Forward Guidance
HII provides FY23 guidance, expecting shipbuilding revenue between $8.4 and $8.6 billion and Mission Technologies revenue of approximately $2.5 billion.
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 FY23 Mission Technologies segment operating margin between 2.5% and 3.0%.
- Expect FY23 Mission Technologies EBITDA margin between 8.0% and 8.5%.
Challenges Ahead
- Expect FY23 free cash flow between $400 and $450 million
- Operating FAS/CAS Adjustment ($68M)
- Interest Expense ($105M)
- Effective Tax Rate ~21%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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