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Business/Financial

HII Ends 2024 On Sour Note As Earnings, Sales Decline

By Cal Biesecker

Thursday, February 6th, 2025

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HII Ends 2024 On Sour Note As Earnings, Sales Decline

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

HII [HII] on Thursday reported a steep decline in earnings in its fourth quarter driven by lower performance in construction of attack submarines and new aircraft carriers coupled with non-recurring gains a year ago related a tax recovery and an insurance settlement. Sales also fell across the company’s operating segments, with shipbuilding revenue down on lower volume on amphibious assault ships and aircraft carrier refueling and overhauls, less revenue from contract adjustments on attack submarine and carrier construction, less nuclear…

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