Thursday, October 6, 2022

Huntington Ingalls Industries Reports Second Quarter Results

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NEWPORT NEWS—Huntington Ingalls Industries (HII) reported second quarter 2022 revenues of $2.7 billion, up 19.3 percent from the second quarter of 2021. The gains were primarily driven by revenue attributable to the acquisition of Alion Science and Technology in the third quarter of 2021 as well as growth at Newport News Shipbuilding.

Operating income in the second quarter of 2022 was $191 million and the operating margin was 7.2 percent compared to $128 million and 5.7 percent respectively in the second quarter of 2021. The increase in operating income and operating margin were primarily driven by higher segment operating income as well as more favorable non-current state income taxes and more favorable operation FAS/CAS adjustment compared to the prior year.

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