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Pension Tailwind Lifts Huntington Ingall’s Profit; Petters High On Navy Plans

By Cal Biesecker

Thursday, May 3rd, 2018

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Pension Tailwind Lifts Huntington Ingall’s Profit; Petters High On Navy Plans

Huntington Ingalls President and CEO Mike Petters. Photo: HII

Navy shipbuilder Huntington Ingalls Industries [HII] on Thursday posted strong earnings in its first quarter driven by pension adjustments, but the company cautioned that its operating margins will be lower in the coming years as it brings on new work with the Navy that won’t be profitable initially.HII for the past few years has been targeting 10 percent annual operating margin in its combined shipbuilding operations but the additional work in the channel that is part of the Navy’s planned…

Budd And Shaheen Bill Would Authorize 329 F-15EX Fighters

Two members of the Senate Armed Services Committee (SASC), Sen. Ted Budd (R-N.C.) and Sen. Jeanne Shaheen (D-N.H.), have introduced the Airpower Acceleration Act, which would authorize multi-year procurements of […]

Congress

HASC’s Wittman Sees ‘Challenging’ Push For $350B In Reconciliation Funds, Wants Sustained Defense Increase

NATIONAL HARBOR, Md.– Congress’ work to pass $350 billion in reconciliation funds to support the Trump administration’s push for a $1.5 trillion fiscal year 2027 defense topline is “going to […]

Army

Army Secretary Says “We Need To Over-Invest in FLRAA To Get It Online As Quickly As Possible”

Rep. Ken Calvert (R-Calif.), chairman of the House Appropriations Committee’s defense panel (HAC-D), said on Thursday that the Army’s budget plan beginning in fiscal 2027 has more than $2 billion […]

Congress

Pentagon Fiscal 2027 Budget To Address Cannibalization Of Parts For F-35, Legislator Says

The Pentagon’s upcoming fiscal 2027 budget request will help reduce the cannibalization of parts for the F-35 fighter by Lockheed Martin [LMT], the chairman of the House Armed Services Committee’s […]