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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.
Huntington Ingalls
Huntington Ingalls
Huntington Ingalls Revenue by Segment
Revenue by Segment
Ingalls Shipbuilding Revenue
CapyFin.comNewport News Shipbuilding Revenue
CapyFin.comMission Technologies Revenue
CapyFin.com 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%
- Capital Expenditures ~3.0% of Sales
Revenue & Expenses
Visualization of income flow from segment revenue to net income