Huntington Ingalls Industries Inc.
HII Reports Strong Q2 2024 Results with Revenue Growth and Milestone Deliveries
Summary
Huntington Ingalls Industries, Inc. (HII) reported strong financial results for the second quarter of 2024, with record revenues of $3.0 billion, a 6.8% increase from Q2 2023. Operating income rose 21.2% to $189 million, and net earnings were $173 million or $4.38 diluted earnings per share. HII delivered two key ships, the Virginia-class submarine New Jersey (SSN 796) and the amphibious transport dock Richard M. McCool Jr. (LPD 29). The company also raised its Mission Technologies revenue guidance range for the year.
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About Huntington Ingalls Industries Inc.
Huntington Ingalls Industries Inc. operates as a comprehensive shipbuilding company specializing in designing, building, and maintaining nuclear and non-nuclear ships globally. As America's largest military shipbuilding firm, Huntington Ingalls plays a critical role in the defense industry by constructing and maintaining a considerable portion of the U.S. Navy and Coast Guard's fleet. Established in 2011 and headquartered in Newport News, Virginia, the company extends its expertise to complex logistics, design, engineering, and construction of naval vessels such as aircraft carriers, submarines, and amphibious assault ships. Huntington Ingalls' influence is notable across defense, national security, and marine engineering sectors. The company also diversifies with its technical solutions segment, offering wide-ranging services including unmanned systems, nuclear support, and oil and gas engineering. This diversification solidifies its position within both defense and broader industrial realms, ensuring resilience in fluctuating economic conditions and technological advancements.
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