NEWPORT NEWS, Va. - Huntington Ingalls Industries (HII) reported third quarter 2020 revenues of $2.3B - up 4.3 percent from 3Q/2019. The increase was driven by growth at both its Newport News, Va., and Ingalls Shipbuilding in Pascagoula, Miss., divisions. Operating income in the quarter was $222M and operating margin was 9.6 percent, compared to $214M and 9.6 percent, respectively, in the 3Q of 2019. The increase in operating income was mainly the result of a higher operating FAS/CAS adjustment, partially offset by lower segment operating income, compared to the prior year. Net earnings in the quarter were $222M - compared to $154M in 2019. Ingalls Shipbuilding revenues for the 3Q were $675M - an increase of $28M from 2019, primarily driven by higher revenues in surface combatants and the Legend-class National Security Cutter (NSC) program, partially offset by lower revenues in amphibious assault ships. (Source: HII 11/05/20) https://newsroom.huntingtoningalls.com/releases/huntington-ingalls-industries-reports-third-quarter-2020-results
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