- Huntington Ingalls press release (NYSE:HII): Q2 GAAP EPS of $3.27 beats by $0.14.
- Revenue of $2.79B (+4.9% Y/Y) beats by $120M.
- New contract awards in the second quarter of 2023 were approximately $2.6 billion, bringing total backlog to approximately $46.9 billion as of June 30, 2023.
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2023 Outlook: Expect FY23 shipbuilding revenue between $8.4 and $8.6 billion; expect shipbuilding operating margin between 7.7% and 8.0%
- Expect FY23 Mission Technologies revenue of approximately $2.5 billion
- Expect Mission Technologies segment operating margin between 2.5% and 3.0%, and Mission Technologies EBITDA margin between 8.0% and 8.5%.
- Expect FY23 free cash flow between $400 and $450 million
- Expect cumulative FY20-FY24 free cash flow of approximately $2.9 billion.