Thursday, August 4, 2022

HII total revenue up; Ingalls down

NEWPORT NEWS, Va. - Overall, Huntington Ingalls Industries (HII) reported second quarter 2022 revenues of $2.7B, up 19.3% from the second quarter of 2021, primarily driven by revenue attributable to the acquisition of Alion Science and Technology (Alion) in the third quarter of 2021, as well as growth at Newport News Shipbuilding. Mississippi-based Ingalls Shipbuilding's revenues for the 2Q were $658M, a decrease of $12M (1.8%) from the same period in 2021, primarily driven by lower revenues in the Arleigh Burke-class guided missile destroyer (DDG) program, and partially offset by higher revenues in the amphibious transport dock (LPD) and amphibious assault ship (LHA) programs. DDG program revenues decreased due to lower volumes on Jeremiah Denton (DDG 129) and USS Jack H. Lucas (DDG 125), partially offset by higher volume on Thad Cochran (DDG 135). Amphibious ship program revenues increased due to higher volumes on Pittsburgh (LPD 31), Harrisburg (LPD 30), LHA 9 (unnamed) and amphibious class planning yard services, partially offset by lower volume on the recently delivered Fort Lauderdale (LPD 28). (Source: HII 08/04/22) HII Reports Second Quarter 2022 Results | HII News

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