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HII’s Earnings, Sales Dip In First Quarter; Cites CVN-30 Supply Chain Hiccup

Cal Biesecker By
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HII’s Earnings, Sales Dip In First Quarter; Cites CVN-30 Supply Chain Hiccup
Artist rendering of the USS Enterprise (CVN-80) aircraft carrier. (Image: HII)

HII [HII] on Thursday posted first quarter declines in its top and bottom-lines driven by lower sales across the company’s operating segments, and higher interest expense and taxes. Net income fell nearly 3 percent to $149 million, $3.79 earnings per share (EPS), from $153 million $3.87 EPS) a year ago. The results handily topped consensus estimates of $2.88 EPS. Higher interest expense and taxes more than offset higher operating income, which was up on work at the Mission Technologies and…

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