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Business/Financial

Mission Technologies, Ingalls Drive Strong Opening Quarter At HII

By Cal Biesecker

Thursday, May 2nd, 2024

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Mission Technologies, Ingalls Drive Strong Opening Quarter At HII

An artist's rendering of the U.S. Navy's future Columbia-class submarine. (Image: U.S. Navy )

HII [HII] on Monday reported strong first quarter results led by its Mission Technologies and Ingalls Shipbuilding segments. HII credited work on C5ISR and cyber, electronic warfare, and space for driving performance at Mission Technologies, and higher volumes for Navy surface combatants and amphibious ships at Ingalls. Newport News Shipbuilding, which builds and repairs aircraft carriers and nuclear-powered attack submarines, was down modestly in the quarter. Net income increased 19 percent to $153 million, $3.87 earnings per share (EPS), from…

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