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Pension Benefit, Operating Gains Boost Huntington Ingalls In Fourth Quarter

Cal Biesecker By
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Pension Benefit, Operating Gains Boost Huntington Ingalls In Fourth Quarter
Huntington Ingalls President and CEO Mike Petters. Photo: HII

Huntington Ingalls Industries [HII] on Thursday posted higher net income and sales in its fourth quarter, driven by a pension tailwind, higher operating profits in two of its segments, and an increase in shipbuilding revenue. Net income in the quarter soared 67 percent to $249 million, $6.15 earnings per share (EPS), from $149 million ($2.96 EPS) a year ago. Adjusting for the pension benefit, net income was up 44 percent to $176 million ($4.35 EPS), short of consensus estimates by…

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