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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 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…

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