Aerospace Group:

Business/Financial

Huntington Ingalls Posts Lower Earnings On Pension, Acquisition Costs

By Cal Biesecker

Thursday, November 4th, 2021

SHARE:

Huntington Ingalls Posts Lower Earnings On Pension, Acquisition Costs

The USS George Washington (CVN 73). Risk retirements on a refueling and overhaul of the Navy aircraft carrier help boost profits at HII's Newport News Shipbuilding segment in the third quarter. Photo: HII

Huntington Ingalls Industries [HII] on Thursday reported a steep drop in net earnings in the third quarter due mainly to pension headwinds and to a lesser degree by costs related to the recent acquisition of government services provider Alion Science & Technology. Sales in the quarter increased 1 percent to $2.3 billion driven by the Alion acquisition, which closed in August and contributed $163 million to the top line. Otherwise, sales were flat at the Newport News Shipbuilding segment, down…

Congress

Trump Wants Second Reconciliation Bill On His Desk By June 1

President Donald Trump on Wednesday called on Congress to pass and send a second reconciliation bill to his desk by June 1. The deadline follows congressional Republicans’ backing a pursuit […]

Space

Upgrading Current GPS Ground System “Now a Viable Option,” As GPS OCX Problems Continue, Space Official Says

Upgrades to the GPS ground system–the Architecture Evolution Plan (AEP)–is an option under consideration by the Defense Department’s space acquisition chief, as problems continue in fielding the GPS Next Generation […]

Congress

Graham Says GOP To Move Ahead On Second Reconciliation Bill, With Defense Funds As Priority

Senate Budget Committee Chair Lindsey Graham (R-S.C.) said Wednesday, with the White House’s backing, his panel will move “expeditiously” on crafting a second reconciliation bill, citing priorities for defense and […]

Pentagon

Hegseth Acknowledges Potential $200 Billion Iran Supplemental Request, Final Figure ‘Could Move’

Defense Secretary Pete Hegseth on Thursday acknowledged the Pentagon could potentially ask Congress for $200 billion in supplemental funding to support the ongoing operation against Iran and replenish munitions used […]