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Huntington Ingalls Posts Strong Third Quarter Results

Cal Biesecker By
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Huntington Ingalls Posts Strong Third Quarter Results
Rendering of LPD 29 amphibious transport dock. Work on the new ship helped boost HII's sales in the third quarter. Rendering: HII

Huntington Ingalls Industries [HII] on Thursday reported a strong third quarter with sales higher mainly on Navy and Coast Guard programs and earnings up on the higher revenue, lower taxes, a favorable change in workers’ compensation expense and a pension benefit.Net income increased 54 percent to $229 million, $5.29 earnings per share (EPS), from $149 million ($3.27 EPS), led by double-digit gains at both the Newport News and Ingalls Shipbuilding segments, which more than offset a decline at Technical Solutions.…

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