:

Business/Financial

HII Ends 2023 With Strong Fourth Quarter

By Cal Biesecker

Thursday, February 1st, 2024

SHARE:

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…

HASC Bill Funds Second Destroyer, Adds Several Multi-Ship Procurements, Puts Limits On Battleship

The House Armed Services Committee (HASC) chairman’s mark of the fiscal year 2027 defense authorization act, released May 26, largely approved the Navy’s shipbuilding request, but it added funds to […]

Congress

HASC’s FY ‘27 NDAA Adds More Black Hawks, Chinooks For Army, No Plus-Up For Apaches

The House Armed Services Committee’s (HASC) draft of the next defense policy bill supports hundreds of millions dollars for the Army to buy additional Black Hawk and Chinook helicopters in […]

Congress

HASC’s $1.15 Trillion FY ‘27 Draft NDAA Doesn’t Shift Items Over From Reconciliation Request

The House Armed Services Committee (HASC) on Tuesday unveiled its $1.15 trillion draft of the next defense policy bill, aligning with the White House’s requested discretionary topline while not including […]

Budget

DoD’s Equity Stake In L3Harris Rocket Motor Business Comes At Expense Of Other Suppliers, HASC Warns

A draft defense bill released by the House Armed Services Committee (HASC) on Tuesday says the committee is “concerned” with the Defense Department’s $1 billion equity investment this year in […]