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Business/Financial

Sales Up, Income Down At Huntington Ingalls In Third Quarter

By Cal Biesecker

Thursday, November 7th, 2019

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Sales Up, Income Down At Huntington Ingalls In Third Quarter

The advance planning contract for the refueling and complex overhaul of the aircraft carrier USS John C. Stennis (CVN 74) helped boost sales at Huntington Ingalls in the third quarter. Photo: U.S. Navy

Huntington Ingalls Industries [HII] on Thursday reported mixed results in its third quarter, with sales up on acquisitions and work in its nuclear shipyard while earnings fell due to lower operating income from its shipbuilding and a less favorable adjustment in pension income versus a year ago. Net income sank 33 percent to $154 million, $3.74 earnings per share (EPS), from $229 million ($5.29 EPS) a year ago, still topping consensus estimates by 11 cents per share. Operating margin fell…

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