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Business/Financial

Pension Tailwind Lifts Huntington Ingall’s Profit; Petters High On Navy Plans

By Cal Biesecker

Thursday, May 3rd, 2018

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Pension Tailwind Lifts Huntington Ingall’s Profit; Petters High On Navy Plans

Huntington Ingalls President and CEO Mike Petters. Photo: HII

Navy shipbuilder Huntington Ingalls Industries [HII] on Thursday posted strong earnings in its first quarter driven by pension adjustments, but the company cautioned that its operating margins will be lower in the coming years as it brings on new work with the Navy that won’t be profitable initially.HII for the past few years has been targeting 10 percent annual operating margin in its combined shipbuilding operations but the additional work in the channel that is part of the Navy’s planned…

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