Huntington Ingalls Industries (NYSE: HII) reported Q3 EPS of $3.70, $0.29 better than the analyst estimate of $3.41. Revenue for the quarter came in at $2.82 billion versus the consensus estimate of $2.71 billion.

2023 Financial Outlook

Increasing shipbuilding midpoint and Mission Technologies revenue guidance

Revising FY23 shipbuilding revenue from $8.4 - $8.6 billion to $8.5 - $8.6 billion
Increasing FY23 Mission Technologies revenue from approximately $2.5 billion to approximately $2.55 billion

Reaffirming shipbuilding and Mission Technologies FY23 margin guidance

Expect shipbuilding operating margin between 7.7% and 8.0% for FY23
Expect Mission Technologies segment operating margin between 2.5% and 3.0%, and Mission Technologies EBITDA margin2 between 8.0% and 8.5% for FY23

Increasing free cash flow guidance for FY23

Increasing FY23 free cash flow from $400 - $450 million to approximately $500 million
Expect cumulative FY20-FY24 free cash flow of approximately $2.9 billion

For earnings history and earnings-related data on Huntington Ingalls Industries (HII) click here.