secwatch.observer — SEC 8-K summary
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Issuer:     HUNTINGTON INGALLS INDUSTRIES, INC. (HII)
CIK:        0001501585
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0001501585-24-000040
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HII Q3 EPS $2.56 vs $3.70 YoY; FY24 FCF outlook cut to $0-100M from $600-700M
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- Q3 revenue $2.7B (-2.4% YoY); net earnings $101M ($2.56 diluted EPS) vs $148M ($3.70) YoY.
- Newport News Shipbuilding took $78M unfavorable cumulative adjustment; segment operating margin fell to 3.5% from 6.6%.
- FY24 free cash flow outlook slashed to $0-100M from $600-700M; shipbuilding operating margin cut to 5-6% from 7.6-7.8%.
- CEO cites uncertainty on submarine block awards, supply chain delays, labor inefficiency, and rework as performance drivers.
- New contract awards $3.6B in Q3; total backlog $49.4B as of Sept 30, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1501585/000150158524000040/0001501585-24-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1501585/000150158524000040/hii-20241031.htm
  HTML page:      https://secwatch.observer/filing/0001501585-24-000040

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