Shares of aerospace and defense company Huntington Ingalls (NYSE:HII)
jumped 9.9% in the afternoon session after the company reported second-quarter earnings and revenue that sailed past Wall Street forecasts, driven by strong contract awards and a record backlog. The shipbuilder's revenue climbed 3.5% to $3.08 billion, while its earnings per share landed at $3.86. Although the company's net income of $152 million declined from the previous year, it still comfortably surpassed analysts' projections. The strong performance stemmed from easing production snags at its shipyards and booming demand for submarines. Huntington Ingalls also secured $11.9 billion in new contracts during the quarter, which brought its total funded backlog to a record high of $56.9 billion. Furthermore, free cash flow surged to $730 million, a significant improvement from a negative figure a year ago.
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Aerospace and defense company Huntington Ingalls (NYSE:HII) beat Wall Street’s revenue expectations in Q2 CY2025, with sales up 3.5% year on year to $3.08 billion. Its GAAP profit of $3.86 per share was 17.2% above analysts’ consensus estimates.
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