Huntington Ingalls (HII) Q3 Earnings Top, Revenues Up Y/Y
Zacks Investment Research | Nov 07, 2018 10:26PM ET
Huntington Ingalls Industries, Inc.’s (NYSE:HII) third-quarter 2018 earnings of $5.29 per share surpassed the Zacks Consensus Estimate of $4.14 by 27.8%. The bottom line also improved 61.8% from $3.27 a year ago, courtesy of solid revenue growth and operating income.
Total Revenues
Total revenues came in at $2.08 billion, which outpaced the Zacks Consensus Estimate of $1.92 billion by 8.3%. The top line also rose 11.8% from $1.86 billion registered a year ago. The upside can be attributed to higher sales volume at all the three business divisions of the company.
Segment Details
Newport News Shipbuilding: Revenues totaled $1,179 million, up 12% year over year backed by higher revenues in naval nuclear support services and aircraft carriers. Operating income improved 24% to $119 million owing to result of favorable changes in workers’ compensation expense.
Ingalls Shipbuilding: Revenues at this segment came in at $694 million, up 17% year over year on account of higher revenues in amphibious assault ships and the Legend-class National Security Cutter (NSC) program. Operating income improved 10.8% to $82 million owing to higher volumes.
Technical Solutions: Revenues at this segment summed $245 million, up 1.7% year over year. The upside was driven by higher oil and gas services and mission driven innovative solutions revenues. Operating income totaled $16 million compared with $22 million in the year-ago quarter.
Huntington Ingalls Industries, Inc. Price, Consensus and EPS Surprise
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