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Lower Taxes, Pension Gain Push Earnings Higher At Huntington Ingalls

Cal Biesecker By
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Lower Taxes, Pension Gain Push Earnings Higher At Huntington Ingalls
USS George Washington (CVN 73). Photo: U.S. Navy.

Lower taxes, the gift that just keeps giving this year for corporations, combined with a pension benefit, propelled Huntington Ingalls Industries [HII] to a hefty increase in earnings despite a dip in operating profit at the segment level.Net income soared 63 percent to $239 million, $5.40 earnings per share (EPS), from $147 million ($3.21 EPS) a year ago, with a lower tax rate, which was lower than expected due to a claim for prior year research and development tax credits,…

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