:

Business/Financial

Huntington Ingalls Industries Reports Strong Second Quarter Results

By Cal Biesecker

Thursday, August 5th, 2021

SHARE:

Huntington Ingalls Industries Reports Strong Second Quarter Results

Virginia-class submarine Montana (SSN 794). Work on Virginia-class subs contributed to sales and earnings increases at HII in the second quarter. Photo: HII

Huntington Ingalls Industries [HII] on Thursday posted strong top and bottom-line results in its second quarter driven primarily by its shipbuilding operations despite pension headwinds. Net income was up 146 percent to $129 million, $3.20 earnings per share (EPS), from $53 million ($1.30 EPS) a year ago. Excluding pension impacts, adjusted earnings of $3.05 EPS topped consensus estimates by 49 cents per share. Sales increased 10 percent to $2.2 billion from $2 billion a year ago. At the operating level,…

Congress

U.S. Fighter Fleet Will Expand By 2040 But More Stealth Aircraft Will Mean Less Availability, CBO Says

The number of fighter aircraft in the U.S. military inventory will decline over the next few years before expanding to a greater number than currently, but their availability for operational […]

Congress

White House Details ‘Concerns’ With Shipbuilding, Spaced-Based Interceptor Oversight In House’s NDAA

The White House has detailed “a number of concerns” with the newly-passed House version of the next defense policy bill, to include the legislation’s limits on procuring Navy ships built […]

Congress

House Narrowly Votes To Pass $1.15 Trillion FY ‘27 NDAA, Blueprint For Reconciliation 3.0

The House on Wednesday narrowly voted to pass its $1.15 trillion version of the fiscal year 2027 National Defense Authorization Act (NDAA) and a blueprint for a third reconciliation bill […]

Congress

Senate Appropriators Press On Supplemental’s Requests Beyond Iran Scope, Hegseth Urges Full Funding

Senate appropriators have pressed Pentagon leadership on the decision to include funds in the Iran war supplemental request for items beyond the current military operation, while Defense Secretary Pete Hegseth […]