NEW YORK CITY, NY / ACCESSWIRE / November 1, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Huntington Ingalls Industries, Inc. ("Huntington Ingalls" or "the Company") (NYSE:HII). Investors who purchased Huntington Ingalls securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/HII.
The shipbuilder's cost issues will take time to resolve.
Huntington Ingalls Industries stock crashed followed uncertainty on contracting activity. The company is now valued fairly, contrary to a previous overvaluation, which could provide an entry point. Risk is elevated due to the removal of the longer-term free cash flow guidance, meaning that potential upside as well as risk have increased.
Major U.S. equities indexes never found a festive mood in the Halloween trading session, carving lower as investors digested massive spending plans by tech giants aiming to build their artificial intelligence (AI) infrastructure.
Huntington Ingalls Industries, Inc. (NYSE:HII ) Q3 2024 Earnings Conference Call October 31, 2024 9:00 AM ET Company Participants Christie Thomas - Vice President, Investor Relations Chris Kastner - President & Chief Executive Officer Tom Stiehle - Executive Vice President & Chief Financial Officer Conference Call Participants Gautam Khanna - TD Cowen Scott Mikus - Melius Research Myles Walton - Wolfe Research Pete Skibitski - Alembic Global David Strauss - Barclays Scott Deuschle - Deutsche Bank Jason Gursky - Citi Seth Seifman - JPMorgan Ronald Epstein - Bank of America Robert Stallard - Vertical Research Mike McCormick - Bernstein Noah Poponak - Goldman Sachs Operator Ladies and gentlemen, thank you for standing by and welcome to the Third Quarter 2024 HII Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.
HII's Q3 revenues of $2.75 billion miss the Zacks Consensus Estimate by 4.5%. The top line also declines 2.4% year over year.
The biggest U.S. military shipbuilder pulled its five-year free cash-flow forecast amid uncertainty about a submarine contract, supply-chain disruption and the loss of experienced workers.
Although the revenue and EPS for Huntington Ingalls (HII) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Huntington Ingalls (HII) came out with quarterly earnings of $2.56 per share, missing the Zacks Consensus Estimate of $3.84 per share. This compares to earnings of $3.70 per share a year ago.
HII's Q3 results are likely to reflect solid sales across the majority of its business segments and the benefits of margin improvement in its shipbuilding business.
Huntington Ingalls (HII) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
HII has launched the San Antonio-class amphibious transport dock ship LPD 30 to support the U.S. Navy.