Will Contract Wins Boost Huntington Ingalls (HII) Q3 Earnings?
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Rising demand for aircraft carriers are likely to boost Huntington Ingalls' (HII) Newport News segment in Q3.
Huntington Ingalls Industries, Inc. HII is set to report third-quarter 2018 results on Nov 8, before market open.
In the last reported quarter, this military shipbuilder delivered a positive earnings surprise of 28.27%. Coming to expectations for the to-be-reported quarter, rising demand for aircraft carriers are likely to boost the companys Newport News segment.
Lets discuss the factors influencing Huntington Ingalls quarterly results, in brief.
Newport News Segment A Key Catalyst
Huntington Ingalls Newport News is the nation's sole designer, builder and refueler of nuclear-powered aircraft carriers. Notably, this division generates more than 50% of the companys total revenues. Increasing geo-political tensions across the globe have prompted the U.S. government to strengthen its arsenal, with aircraft carriers being a notable part of that.
Weexpect the upcoming quarterly result to duly reflect solid revenue growth from the Newport News segment. This is because higher volume for aircraft carriers and submarine support services have been driving this divisions top line over the past couple of quarters. Notably, at this segment, the Zacks Consensus Estimate for third-quarter revenues is pegged at $1,114 million, reflecting an annual improvement of 5.8%.
Huntington Ingalls Industries, Inc. Price and EPS Surprise
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