Welcome to the Huntington Ingalls Industries, Inc. Fourth Quarter 2024 Conference Call. Matters discussed on today's call that constitute forward-looking statements, including our estimates regarding the company's outlook, involve risks and uncertainties and reflect the company's judgment based on information available at the time of this call. These risks and uncertainties may cause our actual results to differ materially. Additional information regarding these factors is contained in today's press release ...

Military shipbuilder Huntington Ingalls (HII -16.84%) missed quarterly expectations, and its issues are likely to continue into the new year.Shares of Huntington Ingalls traded down 17% as of 11:15 a.m. ET, as investors see little reason to get excited about the stock right now.It's tough to turn a battleshipHuntington Ingalls is one of two major shipbuilders for the military, and its massive Newport News, Virginia, shipyard is responsible for producing the nation's aircraft carriers and other important ves ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-34910 ______________________________________________ HUNTINGTON INGALLS INDUSTRIES, INC. (Exact name of registran ...

Huntington Ingalls Industries, Inc.’s (HII) fourth-quarter 2024 earnings of $3.15 per share declined 54.3% from $6.90 in the prior-year quarter. The bottom line also missed the Zacks Consensus Estimate of $3.28 by 4%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The year-over-year decline can be attributed to poor sales as well as operating income in the fourth quarter of 2024 compared with fourth-quarter 2023. For 2024, the company registered earnings of $13.96 per share, which mis ...

Huntington Ingalls (HII) reported $3 billion in revenue for the quarter ended December 2024, representing a year-over-year decline of 5.5%. EPS of $3.15 for the same period compares to $6.90 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.03 billion, representing a surprise of -0.88%. The company delivered an EPS surprise of -3.96%, with the consensus EPS estimate being $3.28.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- an ...

Huntington Ingalls (HII) came out with quarterly earnings of $3.15 per share, missing the Zacks Consensus Estimate of $3.28 per share. This compares to earnings of $6.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.96%. A quarter ago, it was expected that this shipbuilder would post earnings of $3.84 per share when it actually produced earnings of $2.56, delivering a surprise of -33.33%.Over the last four quarters, the c ...

Q4 2024 Earnings Call Chris Kastner President and CEO Tom Stiehle EVP and CFO February 6, 2025 Cautionary Statement Regarding Forward-looking Statements Statements in this presentation and in our other filings with the SEC, as well as other statements we may make from time to time, other than statements of historical fact, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words suc ...

Revenues were $3.0 billion in the fourth quarter, $11.5 billion in 2024Diluted earnings per share was $3.15 in the fourth quarter, $13.96 in 2024Backlog of $48.7 billion at year-endAchieved critical shipbuilding milestones in 2024, including delivery of Virginia-class submarine New Jersey (SSN 796) and amphibious transport dock Richard M. McCool Jr. (LPD 29)Mission Technologies secured awards with total contract value of over $12 billion in 2024 NEWPORT NEWS, Va., Feb. 06, 2025 (GLOBE NEWSWIRE) -- HII (NYSE ...

Financial Performance - Fourth quarter 2024 revenues were $3.0 billion, a decrease of 5.4% from $3.2 billion in the fourth quarter of 2023[2] - Diluted earnings per share for the fourth quarter was $3.15, down 54.3% from $6.90 in the same period last year[4] - Full year 2024 revenues totaled $11.5 billion, an increase of less than 1% compared to 2023[4] - The company reported net earnings of $123 million for the three months ended December 31, 2024, compared to $274 million for the same period in 2023[33] - Basic earnings per share for the year ended December 31, 2024, was $3.15, down from $6.90 in 2023[33] - Net earnings for 2024 were $550 million, down from $681 million in 2023, a decrease of 19.2%[35] - Segment operating income for the fourth quarter was $110 million, a decline of 64.7% from $312 million in the fourth quarter of 2023[3] - Segment operating income for the year ended December 31, 2024, was $573 million, down from $842 million in 2023, a decrease of 32%[47] Revenue Breakdown - Newport News Shipbuilding revenues for the fourth quarter were $1.6 billion, a decrease of 4.6% from the prior year[15] - Mission Technologies achieved revenues of $713 million in the fourth quarter, down 4.3% from 745 million in the same period last year[19] - Mission Technologies revenues for the year ended December 31, 2024, increased to $2,937 million, up 8.8% from $2,699 million in 2023[49] - Shipbuilding revenue for 2024 was $11,535 million, slightly up from $11,454 million in 2023, an increase of 0.7%[47] Cash Flow and Capital Expenditures - Full year 2024 net cash provided by operating activities was $393 million, significantly lower than $970 million in 2023[6] - For the three months ended December 31, 2024, net cash provided by operating activities was $391 million, down from $562 million in the same period of 2023[48] - Free cash flow for FY25 is anticipated to be between $300 million and $500 million[27] - Free cash flow for the three months ended December 31, 2024, was $277 million, a decrease of 36.2% compared to $434 million in the same period of 2023[48] - Capital expenditures increased to $367 million in 2024 from $292 million in 2023, an increase of 25.7%[35] - Capital expenditures for the year ended December 31, 2024, totaled $367 million, an increase from $292 million in 2023[48] - Grant proceeds for capital expenditures in 2024 were $14 million, consistent with the previous year[48] Contracts and Awards - The backlog at year-end 2024 was approximately $48.7 billion, supported by new contract awards of approximately $12.1 billion during the year[9] - Awarded a $6.7 billion contract for electronic warfare engineering and technical services support for the U.S. Air Force[22] - Awarded a $3 billion Federal Government task order for national security services and new and emerging technology[22] - Awarded a $458 million contract to modernize communications and IT networks for the U.S. Department of Defense[22] - Mission Technologies secured total contract value awards exceeding $12 billion in 2024[7] Dividends and Shareholder Returns - Declared dividends of $1.35 per share for the three months ended December 31, 2024, compared to $1.30 in 2023[33] - Dividends paid in 2024 were $206 million, compared to $200 million in 2023, an increase of 3%[35] Future Projections - FY25 shipbuilding revenue is projected to be between $8.9 billion and $9.1 billion, with an operating margin of 5.5% to 6.5%[25] - FY25 Mission Technologies revenue is expected to be between $2.9 billion and $3.1 billion, with an operating margin of 4.0% to 4.5% and an EBITDA margin of 8.0% to 8.5%[27] - The company has a mid to long-term revenue growth expectation of over 4%[27] Asset and Liability Overview - Total assets increased to $12,141 million in 2024 from $11,215 million in 2023, representing a growth of 8.2%[34] - Total liabilities increased to $7,475 million in 2024 from $7,122 million in 2023, an increase of 4.9%[34] - Cash and cash equivalents rose to $831 million in 2024, compared to $430 million in 2023, an increase of 93.5%[35] Mission Technologies Performance - Mission Technologies segment operating income for the year ended December 31, 2024, was $116 million, reflecting a 14.9% increase from $101 million in 2023[49] - Mission Technologies EBITDA for the year ended December 31, 2024, was $233 million, slightly up from $232 million in 2023[49] - The EBITDA margin for Mission Technologies for the year ended December 31, 2024, was 7.9%, compared to 8.6% in 2023[49] - The depreciation expense for Mission Technologies for the year ended December 31, 2024, was $11 million, unchanged from 2023[49] - The amortization expense for Mission Technologies decreased to $99 million in 2024 from $109 million in 2023[49]

Wall Street analysts forecast that Huntington Ingalls (HII) will report quarterly earnings of $3.28 per share in its upcoming release, pointing to a year-over-year decline of 52.5%. It is anticipated that revenues will amount to $3.03 billion, exhibiting a decline of 4.6% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this t ...