In an earnings release published Sunday, the global engineering and defense technologies company said revenue exceeded its $2.93 billion forecast by 5.12 percent. The company posted earnings per share of $3.86, lower than the $4.38 recorded in the previous year, but higher by 18.4 percent from the forecasted $3.26 EPS.
The strong showing led to a 10.34 percent increase in stock price during pre-market trading, which was $275.49, reflecting a positive response from investors. HII also reported a free cash flow of $730 million and secured $11.9 billion in new contracts, resulting in a backlog of $56.9 billion.
Financial Outlook
HII forecasted its 2025 revenue for its shipbuilding division to be between $8.9 billion and $9.1 billion for a projected 4 percent increase. It also anticipates free cash flow of between $500 million and $600 million resulting from expected contract awards for Block VI and Columbia Build II in 2025.
Remarks From HII Executives
Chris Kastner, CEO of HII, underscored the company’s continuous expansion of its industrial base and stability of its supply chain, saying, “The industrial base is growing. The supply chain is becoming more stable.”
“We’re razor focused and fixated on showing that we provide guidance going forward that we can hit,” said HII chief financial officer Tom Sealy.
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