Huntington Ingalls Industries (HII) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter increased compared with the same period a year earlier but decreased relative to the immediately preceding quarter. The sequential decline follows a higher revenue level in the prior quarter, while the year-over-year gain indicates continued growth.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter increased compared with the same period a year earlier but decreased relative to the immediately preceding quarter. The sequential decline follows a higher revenue level in the prior quarter, while the year-over-year gain indicates continued growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.8B
Revenue reported for this quarter.
Quarter-over-quarter
-11.7%
Change from the immediately preceding quarter.
Year-over-year
+4.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$11.6B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $2.8B | +4.7% |
| Sep 30, 2023 | $2.8B | +7.2% |
| Dec 31, 2023 | $3.2B | +13.0% |
| Mar 31, 2024 | $2.8B | +4.9% |
Revenue performance
The reported revenue was higher than the prior year's first quarter, reflecting an annual increase. However, it was lower than the previous quarter's figure, marking a sequential decline.
Quarterly comparison
Sequentially, revenue fell from the fourth quarter of the prior fiscal year. On an annual basis, revenue rose compared with the first quarter of the prior year.
What to watch
The filing discusses a significant increase in trade working capital, which contributed to net cash used in operating activities during the quarter.