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Huntington Ingalls Delivers Strong First Quarter

Cal Biesecker By
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Huntington Ingalls Delivers Strong First Quarter
Huntington Ingalls President and CEO Mike Petters. Photo: HII

Strong operational performance at the Ingalls Shipbuilding division combined with a pension tailwind and favorable accounting change led Huntington Ingalls Industries [HII] to open 2016 with strong financial results.Net income soared 56 percent to $136 million, $2.87 earnings per share (EPS), from $87 million ($1.79 EPS), handily beating consensus estimates of $2.11 EPS.Segment operating margin increased more than a percent to 9.4 percent, nearly in the middle of the company’s 9 to 10 percent annual target range, which HII expects…

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