NEWPORT NEWS, Va. - After coming through CY 2020 with record sales and growing its unmanned systems portfolio through acquisitions and partnerships, Huntington Ingalls Industries plans to use that momentum in 2021 to integrate its different business lines to help customers tackle more complex challenges. HII reported fourth quarter (CY) 2020 revenues of $2.8B, up 14.3% from the same period oof2019. Operating income for the quarter was $305M and operating margin was 11.1%, compared to $186M/7.7% respectively in the 4Q of 2019. Diluted earnings per share for the quarter was $6.15 compared to $3.61 in 2019. For the full CY, revenues of $9.4B increased 5.2% over 2019. Operating income was $799M and operating margin was 8.5%, compared to $736M/8.3% in 2019. Diluted earnings per share for the full year was $17.14, compared to $13.26 in 2019. New contract awards in the quarter were about $3.5B, bringing total backlog to around $460B as of Dec. 31. “2020 will be remembered as one of the most challenging business environments that we have ever had to navigate,” said President/CEO Mike Petters (Source: HII 02/11/21 Huntington Ingalls Industries Reports Fourth Quarter and Full Year 2020 Results | Huntington Ingalls Industries
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