Huntington Ingalls Misses Q4 Estimates, Shares Drop 11%
Military shipbuilder Huntington Ingalls Industries (NYSE:HII) reported disappointing fourth-quarter results on Thursday, sending its shares plunging 11% in pre-market trading.
Revenue came in below expectations at $3 billion, falling short of analysts' estimates of $3.1 billion. Net income nosedived by more than half to $3.15 per share, well below the consensus estimate of $3.49 per share.
The underperformance was primarily attributed to challenges at the company's Newport News shipbuilding facility. Huntington Ingalls also faces ongoing supply chain disruptions and cost pressures.
Looking ahead, the company expects 2025 shipbuilding revenue between $8.9 billion and $9.1 billion and mission technologies revenue between $2.9 billion and $3.1 billion.
Analysts, however, remain cautiously optimistic, forecasting full-year revenue of $12.1 billion for Huntington Ingalls, according to data compiled by LSEG.