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Business/Financial

HII Ends 2023 With Strong Fourth Quarter

By Cal Biesecker

Thursday, February 1st, 2024

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HII Ends 2023 With Strong Fourth Quarter

Chris Kastner, president and CEO of HII. (Photo: HII)

HII [HII] on Thursday reported strong top and bottom-line results for the fourth quarter of 2023, driven by a legal matter and an insurance settlement, and gains across its operating segments. Net income in the quarter soared 123 percent to $274 million, $6.90 earnings per share (EPS), from $123 million ($3.07 EPS) a year ago, beating consensus estimates by $2.59 EPS. The bottom-line benefitted from $95 million in after-tax income from two non-operating matters. One, a $70.5 million pre-tax recovery…

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