Aerospace Group:

Business/Financial

Pension Tailwind Drives Huntington Ingalls’ Profit Up In Second Quarter

By Cal Biesecker

Thursday, August 3rd, 2017

SHARE:

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…

Unmanned Systems

In Response To Flag Concerns, DoD Looks To Reduce Drone Prices, As Order for 30,000 Looms

The Pentagon is bargain shopping for Group 1 drones, as other countries, including Ukraine and China, have taken advantage of consumer electronics-level prices to bolster their stables. “In last spring’s […]

Pentagon

Amid Questions On Weapons Stockpiles, Caine Says U.S. Has ‘Sufficient’ Munitions For Iran Operation

Pentagon leaders on Wednesday sought to quell concerns over the rate at which the U.S. is employing critical munitions in its military strike campaign against Iran, with lawmakers also pressing […]

Congress

SASC Leaders Criticize Trump’s Defense Strategy, Press Colby On Policy Shifts

Senate Armed Services Committee (SASC) leadership on Tuesday criticized the Trump administration’s new National Defense Strategy (NDS) and pressed the Pentagon’s top policy official to explain the document’s priorities. SASC […]

Congress

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Legislation regarding equity investments by the Defense Department in critical mineral supply chains is needed to strengthen the larger defense industrial base and demonstrate to the “free market” that the […]