Sign In
Search
Business/Financial

Huntington Ingalls’ Sales Up, Profits Down In Fourth Quarter; Will Divest Oil And Gas Business

Cal Biesecker By
SHARE:
Huntington Ingalls’ Sales Up, Profits Down In Fourth Quarter; Will Divest Oil And Gas Business
Huntington Ingalls President and CEO Mike Petters. Photo: HII

Huntington Ingalls Industries [HII] on Thursday posted lower fourth quarter earnings despite a strong increase in sales due in part to an impairment charge stemming from the company’s decision to put its oil and gas business up for sale. Net income sank 30 percent to $149 million, $3.61 earnings per share (EPS), from $212 million ($4.94 ESP) a year ago, hampered by a pension headwind at the non-cash charge. Excluding the $35 million (75 cents EPS) charge, adjusted earnings of…

Subscriber-only content. Please log in below.

Not a subscriber or registered user yet?

Please contact us at clientservices@accessintel.com or call us at 888-707-5814 (Monday – Thursday 9:00 a.m. – 5:30 p.m. and Friday 9:00 a.m. – 3:00 p.m. ET.), to start a free trial, get pricing information, order a reprint, or post an article link on your website.

Recommended

Business/Financial

L3Harris Names New CFO, Freeing Bedingfield To Run Missile Solution Business

Business/Financial

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Business/Financial

Turbojet Engine Manufacturer PBS Aerospace In Subcontract With Zone 5

Business/Financial

Venture Firm Focused On Dual Use Maritime Companies Gets $150 Million DoD Loan Backing

Trending

Trump Says Defense CEOs Agree To Rapidly Quadruple Production Of ‘Exquisite Class’ Weapons
U.S. CENTCOM Confirms First Combat Use Of Lockheed-Built PrSM In Iran Strikes
AeroVironment Investing In Albuquerque Expansion As SCAR Negotiations Continue
X-Bow Begins Hot-Firings Of Large Solid Rocket Motor For Hypersonic Applications
USAF Looks To Replace Radios On HH-60Ws

Congress Updates

Unmanned Systems

In Response To Flag Concerns, DoD Looks To Reduce Drone Prices, As Order for 30,000 Looms

The Pentagon is bargain shopping for Group 1 drones, as other countries, including Ukraine and China, have taken advantage of consumer electronics-level prices to bolster their stables. “In last spring’s […]

Pentagon

Amid Questions On Weapons Stockpiles, Caine Says U.S. Has ‘Sufficient’ Munitions For Iran Operation

Pentagon leaders on Wednesday sought to quell concerns over the rate at which the U.S. is employing critical munitions in its military strike campaign against Iran, with lawmakers also pressing […]

Congress

SASC Leaders Criticize Trump’s Defense Strategy, Press Colby On Policy Shifts

Senate Armed Services Committee (SASC) leadership on Tuesday criticized the Trump administration’s new National Defense Strategy (NDS) and pressed the Pentagon’s top policy official to explain the document’s priorities. SASC […]

Congress

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Legislation regarding equity investments by the Defense Department in critical mineral supply chains is needed to strengthen the larger defense industrial base and demonstrate to the “free market” that the […]

The Force Multipliers

Force Multipliers

Arne Brinck – Dark Wolf Solutions

Force Multipliers

Jags Kandasamy – Latent AI

Force Multipliers

Force Multipliers – Krista McKendree

Force Multipliers

Force Multipliers – Fred Taylor

Job Feed

Post a Job // Post a Resume