Huntington Ingalls Industries ( (HII) ) has released its Q4 earnings. Here is a breakdown of the information Huntington Ingalls Industries presented to its investors.
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Huntington Ingalls Industries (HII) is the largest military shipbuilder in the United States and a global defense provider, specializing in shipbuilding and advanced technologies across various domains. The company, headquartered in Newport News, Virginia, has a significant role in ensuring national security through its extensive range of services and products.
In its latest earnings report, HII announced revenues of $3.0 billion for the fourth quarter of 2024, with total revenues reaching $11.5 billion for the full year. Despite a slight year-over-year increase in annual revenues, the fourth quarter saw a decline from the previous year’s performance, largely attributed to lower volumes across all segments. The company also reported a substantial backlog of $48.7 billion, indicative of strong future demand.
Key financial highlights include a decrease in diluted earnings per share to $3.15 in the fourth quarter, down from $6.90 in the same period last year, and a full-year diluted earnings per share of $13.96 compared to $17.07 in 2023. Segment operating income for the year was $573 million, with a segment operating margin of 5.0%. The report also highlighted significant achievements in shipbuilding and technology contracts, such as the delivery of the Virginia-class submarine New Jersey and securing over $12 billion in new contracts for Mission Technologies.
Looking ahead, HII is committed to progressing with its pre-COVID shipbuilding contracts while aiming to secure over $50 billion in new work. The company remains focused on delivering powerful ships and comprehensive solutions to continue serving its mission. HII’s management anticipates growth in both shipbuilding and Mission Technologies revenue streams, with a strong emphasis on enhancing operational margins and free cash flow in the coming year.
