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Huntington Ingalls (HII) Beats on Q2 Earnings & Revenues
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The largest military shipbuilder in the U.S., Huntington Ingalls Industries, Inc. (HII - Free Report) is the prime industrial employer in Virginia. Huntington Ingalls, originally an affiliate of Northrop Grumman Corp., was spun off in Mar 2011. It operates major shipyards in Louisiana, Mississippi and Virginia.
Huntington Ingalls primarily deals with the supply of nuclear and non-nuclear ships to the U.S. Navy and Coast Guards. The company also provides manufacturing, engineering and management services to the commercial and non-commercial oil, gas and energy markets.
Estimate Trend & Surprise History
Coming to the earnings surprise, Huntington Ingalls has surpassed the Zacks Consensus Estimate in three of the last four quarters with an average positive surprise of 8.04%. Investors should also note that the Zacks Consensus Estimate for the second quarter of 2018 remained same in the last 7 days.
New business contracts for first quarter were approximately $1.1 billion for Huntington Ingalls. Total backlog amounted to $21 billion as of Jun 30, 2018.
Stock Price: In the pre-market trading session, Huntington Ingalls’ second-quarter results made no significant impact on its share price. Yet, it would be interesting to see how the market reacts to the earnings release during the trading session today.
Check back later for our full write up on this HII earnings report later!
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Huntington Ingalls (HII) Beats on Q2 Earnings & Revenues
The largest military shipbuilder in the U.S., Huntington Ingalls Industries, Inc. (HII - Free Report) is the prime industrial employer in Virginia. Huntington Ingalls, originally an affiliate of Northrop Grumman Corp., was spun off in Mar 2011. It operates major shipyards in Louisiana, Mississippi and Virginia.
Huntington Ingalls primarily deals with the supply of nuclear and non-nuclear ships to the U.S. Navy and Coast Guards. The company also provides manufacturing, engineering and management services to the commercial and non-commercial oil, gas and energy markets.
Estimate Trend & Surprise History
Coming to the earnings surprise, Huntington Ingalls has surpassed the Zacks Consensus Estimate in three of the last four quarters with an average positive surprise of 8.04%. Investors should also note that the Zacks Consensus Estimate for the second quarter of 2018 remained same in the last 7 days.
Zacks Rank
Currently, the company has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Huntington Ingalls surpassed on second-quarter earnings. Our consensus called for EPS of $4.21, and the company reported EPS of $5.40.
Revenue Beat: The company posted revenues of $2.02 billion, which surpassed the Zacks consensus estimate of $1.90 billion.
Huntington Ingalls Industries, Inc. Price and EPS Surprise
Huntington Ingalls Industries, Inc. Price and EPS Surprise | Huntington Ingalls Industries, Inc. Quote
Key Developments to Note
New business contracts for first quarter were approximately $1.1 billion for Huntington Ingalls. Total backlog amounted to $21 billion as of Jun 30, 2018.
Stock Price: In the pre-market trading session, Huntington Ingalls’ second-quarter results made no significant impact on its share price. Yet, it would be interesting to see how the market reacts to the earnings release during the trading session today.
Check back later for our full write up on this HII earnings report later!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>