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Huntington Ingalls Industries Reports Second Quarter Results

By Barrett Baker
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Photo courtesy of huntingtoningalls.com

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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The Peninsula Chronicle reports on business news on the Virginia Peninsula, from Williamsburg to Newport News and Hampton.

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