Huntington Ingalls Reaffirms FY22 Revenue, Margin, Free Cash Flow Guidance

(RTTNews) - While reporting first-quarter results on Thursday, Huntington Ingalls Industries, Inc. (HII) reaffirmed its revenue, margin and free cash flow guidance for fiscal 2022. The company expects free cash flow of between $300 and $350 million for fiscal 2022.

First quarter earnings totaled $140 million, or $3.50 per share compared with $148 million, or $3.68 per share, a year ago. Analysts on average had expected the company to earn $3.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

First quarter revenues were $2.6 billion, up 13.1% from the first quarter of 2021, primarily driven by revenue attributable to the acquisition of Alion Science and Technology.