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US navy shipbuilder Huntington Ingalls beats second-quarter estimates
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US navy shipbuilder Huntington Ingalls beats second-quarter estimates
Aug 1, 2024 5:47 AM

Aug 1 (Reuters) - Huntington Ingalls on Thursday

reported better-than-expected second-quarter results, as

heightened global tensions drove up demand for aircraft

carriers, amphibious assault ships and submarines.

The Virginia-based company reported a profit of $4.38 per

share for the quarter ended June 30, ahead of analysts'

estimates of $3.62. Demand for submarines and aircraft carriers

is surging, fueled by China's expanding naval footprint and high

global tensions.

Huntington Ingalls, the largest U.S. military shipbuilding

company, saw a 6% rise in revenue to $2.98 billion, compared

with estimates of $2.84 billion, according to LSEG data.

The company reaffirmed its annual outlook but raised its

revenue forecast for the Mission Technologies segment, now

seeing it at up to $2.8 billion, compared with the previous

range of $2.7 billion to $2.75 billion.

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