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Pension Tailwind Drives Huntington Ingalls’ Profit Up In Second Quarter

Cal Biesecker By
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Pension Tailwind Drives Huntington Ingalls’ Profit Up In Second Quarter
Artist rendering of LHA 8 Bougainville amphibious assault ship. Huntington Ingalls said that increase volume on the Bougainville helped contribute to higher sales in the second quarter. Rendering by HII.

Buoyed by a pension tailwind and strong operating profits in its Ingalls Shipbuilding and Technical Solutions segments, Huntington Ingalls Industries [HII] on Thursday posted solid earnings and sales in its second quarter.Net income rose 11 percent to $147 million, $3.21 earnings per share (EPS), from $133 million ($2.80 EPS) a year ago. Excluding the benefits from pension income, per share results were $2.51, 16 cents below consensus forecasts.Sales in the quarter were $1.9 billion, up 9 percent from $1.7 billion…

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