Military shipbuilder Huntington Ingalls missed estimates for fourth-quarter revenue and profit on Thursday, hurt by lower performance at its Newport News shipbuilding facility, sending its shares down 11 per cent in pre-market trading.
The company, which faces issues related to supply chain and higher costs, expects its 2025 shipbuilding revenue to be in the range of $8.9 billion to $9.1 billion. It also expects revenue at its mission technologies segment to be between $2.9 billion and $3.1 billion for 2025.
Analysts on average expect the company to post full-year revenue of $12.1 billion, according to data compiled by LSEG.
The company's fourth-quarter profit more than halved to $3.15 per share and came in below analysts' estimates of $3.49 per share.
Sales and service revenue for the quarter was $3 billion, below estimates of $3.1 billion.
(Reporting by Abhinav Parmar in Bengaluru; Editing by Anil D'Silva)