:

Business/Financial

Huntington Ingalls Posts Strong Earnings In Fourth Quarter

By Cal Biesecker

Thursday, February 16th, 2017

SHARE:

Huntington Ingalls Posts Strong Earnings In Fourth Quarter

The Coast Guard National Security Cutter Munro. 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…

Congress

House Appropriators ‘Concerned’ With JLTV A2 Delays, Shift Funds For Marines’ Second Supplier Effort

House appropriators have said they’re “seriously concerned” with Joint Light Tactical Vehicle (JLTV) A2 delays, as their fiscal year 2027 defense spending bill shifts funds to support the Marine Corps’ […]

Budget

House Appropriators Uncertain Navy Will Award F/A-XX Contract By August

House appropriators said they are skeptical the Defense Department will award the engineering and manufacturing development (EMD) contract for the Navy’s F/A-XX next-generation carrier-based fighter program by the most recent […]

Congress

House Appropriators Approve $1.07 Trillion FY ‘27 Defense Bill Amid Reconciliation Uncertainty

The House Appropriations Committee has approved its $1.07 trillion fiscal year 2027 defense spending bill, advancing a bill with a historic topline while uncertainty lingers over Congress’ next step to […]

Budget

House Appropriators Add Restrictions And Reporting Requirement To Battleship, Reject Cut

The chairman’s mark of the House Appropriations Committee’s (HAC) fiscal year 2027 defense appropriations bill funds the administration’s $1 billion request for the BBG(X) Trump-class battleship, but adds restrictions requiring […]