Huntington Ingalls reported a $101 million profit but lowered its 2024 outlook amid contract uncertainties.
Huntington Ingalls Industries (HII) reported a third-quarter net income of $101 million, with revenues falling 2.4% to $2.7 billion. The company revised its fiscal 2024 outlook, citing uncertainty in Navy contracts, supply chain delays, and workforce shortages. HII anticipates shipbuilding revenue around $8.8 billion and increased expectations for its Mission Technologies segment. Its stock dropped significantly due to these challenges, highlighting ongoing operational difficulties.
5 months ago
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