Huntington Ingalls Industries Q2 Profit Surges 38% On Growth In Revenue

(RTTNews) - Huntington Ingalls Industries (HII) Thursday reported 38 percent increase in second-quarter earnings, while revenues climbed 19.3 percent from the prior year. The company reaffirmed full-year shipbuilding revenue.

Net earnings for the all-domain defense and technologies partner, and a major shipbuilder increased to $178 million from $129 million in the previous year. On a per share basis, earnings were $4.44, compared to $3.20 last year.

On average, 8 analysts polled by Thomson Reuters expected the company to earn $3.35 per share. Analysts estimates usually exclude special items.

Revenues for the second quarter were $2.662 billion, higher than the prior year revenue of $2.231 billion a year ago. Analysts were looking for revenue of $2.62 billion.

Further, the company reaffirmed full-year shipbuilding revenue, segment operating margin guidance and revised full year Mission Technologies revenue guidance.