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Business/Financial

Margin Gains, Pension Tailwind Boost HII’s First Quarter Earnings

By Cal Biesecker

Thursday, May 8th, 2014

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Margin Gains, Pension Tailwind Boost HII’s First Quarter Earnings

USS America (LHA-6)

Huntington Ingalls Industries [HII] on Thursday posted strong first quarter earnings on a huge improvement in operating margins at its Ingalls Shipbuilding division and pension recovery on government contracts while the company’s sales edged up slightly. Sales were relatively flat at Ingalls at $547 million but operating income leaped 79 percent to $43 million due to risk retirement on the Navy LPD-17 amphibious transport dock and Coast Guard National Security Cutter programs. Operating margin at the division soared 3.5 percent…

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