Huntington Ingalls Industries (HII) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 5, 2022 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by and welcome to the First Quarter 2022 HII Earnings Conference Call. [Operator Instructions]

I'd now like to hand over the call to Christie Thomas, Vice President of Investor Relations, Mr. Thomas, you may begin.

Christie Thomas

First quarter 2022 earnings conference call. With us today are Chris Kastner, President and Chief Executive Officer; and Tom Stiehle, Executive Vice President and Chief Financial Officer.

As a reminder, statements made in today's call that are not historical facts are considered forward-looking statements and are made pursuant to the safe harbor provisions of federal securities law. Actual results may differ. Please refer to our SEC filings for a description of some of the factors that may cause actual results to vary materially from anticipated results. Also in their remarks today, Chris and Tom will refer to certain non-GAAP measures. Reconciliations of these metrics to the comparable GAAP measures are included in the appendix of our earnings presentation that is posted on our website. We plan to address the posted presentation slides during the call to supplement our comments. Please access our website at hii.com and click on the Investor Relations link to view the presentation as well as our earnings release.

With that, I will turn the call over to our President and CEO, Chris Kastner. Chris?

Chris Kastner

Thanks, Christy. Good morning everyone and thank you for joining us on today's call.

Earlier this morning we reported solid performance across each of our operating divisions. With our focus on execution and growth positioning us to reaffirm our previous revenue, margin, and free cash flow guidance.

Our Shipbuilding emission technologies teams continue to execute well despite basically some headwinds in the areas of human capital and supply chain disruption. Like the economy broadly we are facing challenges created by the lingering effects of COVID and its impact on the labor market, making it challenging to hire and retain employees.

Moreover, our suppliers are being impacted by the same shortage of labor as well as inflation issues, which creates risk of delays in delivery of key materials for our shipbuilding programs. We are aggressively working these challenges with our suppliers and our customers. In light of both of these challenges, I'm extremely proud of the resilience and the dedication of each of our 44,000 employees to continue to focus on our mission of delivering on their customer commitments.