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Business/Financial

Huntington Ingalls Industries Sees Third-Quarter Dip In Income, Revenue

By Marc Selinger

Thursday, November 3rd, 2016

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Huntington Ingalls Industries Sees Third-Quarter Dip In Income, Revenue

A composite photo illustration representing the Ford-class aircraft carrier, USS John F. Kennedy (CVN 79). Illustration: Huntington Ingalls.

Huntington Ingalls Industries [HII] announced Nov. 3 that its operating income totaled $175 million in the third quarter, down 12.5 percent from the same period last year, as revenue declined 6.5 percent to $1.68 billion.The Ingalls Shipbuilding division saw lower revenue for the Navy’s Amphibious Assault Ships and the Coast Guard’s National Security Cutter program, which was partially offset by higher revenue from Navy Arleigh Burke-class (DDG-51) destroyers. The Newport News Shipbuilding division reported lower revenue mainly due to declines…

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