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Income Falls At Huntington Ingalls In Second Quarter But Results Still Solid

Cal Biesecker By
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Income Falls At Huntington Ingalls In Second Quarter But Results Still Solid
The USS John P. Murtha (LPD 26) during acceptance trials in 2016. (Photo by Lance Davis/HII)

Huntington Ingalls Industries [HII] on Thursday reported lower earnings in its second quarter due to a favorable litigation settlement that inflated the bottom line a year ago but the company’s operating results were still strong and earnings beat consensus estimates.Net income slid 15 percent to $133 million, $2.80 earnings per share (EPS), from $156 million ($3.20 EPS) a year ago, topping consensus estimates by 48 cents EPS. Excluding the insurance settlement and an impairment charge in the second quarter a…

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