NEWPORT NEWS, Va. - Huntington Ingalls Industries' (HII) reported third quarter 2021 revenues of $2.3B was up 1 percent from the third quarter of 2020. Operating income was $118M. The operating margin was 5 percent compared to $222M and 9.6 percent in the same 2020 quarter. The decreases in operating income and operating margin were primarily the result of a less favorable operating FAS/CAS adjustment. Net earnings in the 3Q were $147M compared to $222M of 2020. Third quarter results included about $15M of non-recurring, pre-tax transaction expenses related to the acquisition of Alion. New contract awards in the 3Q were about $600M bringing total backlog to about $50.1B as of Sept. 30. “We are pleased with the third quarter results that represent another quarter of consistent shipbuilding program execution while we continue to navigate the challenges posed by the COVID-19 pandemic,” said Mike Petters, HII’s President/CEO. (Source: HII 11/04/21) Huntington Ingalls Industries Reports Third Quarter 2021 Results | Huntington Ingalls Industries
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