Huntington Ingalls Industries Q1 earnings exceeded expectations due to increased demand for submarines and aircraft carriers.
Huntington Ingalls Industries (HII), the largest U.S. military shipbuilder, reported Q1 earnings above expectations, with a 4.9% revenue increase to $2.81 billion, driven by demand for submarines and aircraft carriers amid global tensions. EPS were $3.87, beating the average analyst estimate of $3.53. Despite labor retention issues and program delays, HII reaffirmed its 2024 shipbuilding revenue target of $8.8-9.1 billion.
May 02, 2024
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