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HII Reports Third Quarter 2022 Results

By Barrett Baker

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Ceremonial keel laying of aircraft carrier USS Enterprise (CVN 80). Photo courtesy of Barrett Baker.

NEWPORT NEWS—HII recently reported third quarter 2022 revenues of $2.6 billion, up 12.3 percent from the third quarter of 2021. The figure was primarily driven by revenue attributed to the acquisition of Alion Science and Technology in the third quarter of 2021 as well as revenue growth at Newport News Shipbuilding.

Operating income in the third quarter of 2022 was $131 million and operating margin was 5.0 percent, compared to $118 million and 5.0 percent, respectively, in the third quarter of 2021. The increase in operating income was primarily driven by favorable changes to non-current state income taxes and operating FAS/CAS adjustment compared to the prior year as well as higher segment operating income.

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