By Rob Curran
Shares of Huntington Ingalls slid premarket after the shipbuilder posted lower fourth-quarter earnings and revenue, amid struggles at a Virginia shipyard.
Shares of Huntington slid 11% to $174.90 in premarket trading.
The Newport News, Va., military contractor said earnings fell to $123 million, or $3.15 a share, from $274 million, or $6.90 a share, a year earlier.
Revenue fell 5.4% to $3 billion. The Newport News Shipbuilding unit saw revenue decline 4.6% to $1.6 billion, amid weakness in aircraft-carrier refueling and services, unfavorable adjustments on a submarine program and aircraft-carrier construction, and lower naval nuclear support activity. Lower aircraft-carrier and naval-nuclear support services also weighed on 2024 revenue at the unit.
For 2025, Huntington forecast ship-building revenue of $8.9 billion to $9.1 billion. The military contractor projected revenue at its mission technologies unit of $2.9 billion to $3.1 billion for the full year.
Huntington estimated it had an order backlog of $48.7 billion at the year end.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
February 06, 2025 08:39 ET (13:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。