HII Raises Shipbuilding Revenue Forecast, Q2 Profit Jumps 18%
HII sits 22% above its 52-week low of $256.45.
Summary
Huntington Ingalls delivered a strong Q2, with profit up over 18% to $5.27 per share and revenue rising nearly 11% to $3.42 billion. The company raised its full-year shipbuilding revenue guidance to $10.2-$10.4 billion, up from $9.7-$9.9 billion, driven by higher volumes at its Newport News and Ingalls shipyards. Operating margin improved to 6.1% from 5.3% a year ago, reflecting better execution and throughput. Shares surged 13% in pre-market trading, signaling the market's positive reaction to the beat and raised outlook. This follows yesterday's news of $76.6 billion in submarine contract modifications, reinforcing the strong demand backdrop.
At the time of this announcement, HII was trading at $312.01 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $11B. The 52-week trading range was $256.45 to $460.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.