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Huntington Ingalls Posts Strong Earnings In Fourth Quarter

Cal Biesecker By
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Huntington Ingalls Posts Strong Earnings In Fourth Quarter
The National Security Cutter Munro completed builder's sea trials in August and is scheduled to be delivered to the Coast Guard in December. Photo: HII

Buoyed by strong operating performance combined with a pension tailwind and lower taxes, Huntington Ingalls Industries [HII] on Thursday reported strong earnings in its fourth quarter, trouncing consensus estimates.Net income nearly quadrupled to $197 million, $4.20 earnings per share (EPS), from $50 million ($1.06 EPS) in the fourth quarter of 2015, driven by operating performance, pension and tax benefits, and a lower share count.Excluding the pension tailwind and the negative impacts of some impairment charges that dented fourth quarter earnings…

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