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Business/Financial

Lower Taxes Drive Earnings Up At Huntington Ingalls In Fourth Quarter

By Cal Biesecker

Thursday, February 14th, 2019

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Lower Taxes Drive Earnings Up At Huntington Ingalls In Fourth Quarter

Christening ceremony for the SSN 791 Delaware Virginia-class submarine on in Oct. 2018. (Photo: HII)

Huntington Ingalls Industries [HII] on Thursday reported mixed financial results for its fourth quarter, with net income higher on lower taxes despite a big dip in operating income at its business segments while sales were strong. Net income soared 231 percent to $212 million, $4.94 earnings per share (EPS), from $64 million ($1.41 EPS) a year ago, crushing consensus estimates by 43 cents per share. Sales increased 10 percent to a record $2.2 billion from $2 billion a year ago.…

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