HII reports on 4Q revenues

NEWPORT NEWS, Va. - Huntington Ingalls Industries (HII) reported fourth quarter 2019 revenues of $2.4B, up 9.7% from the fourth quarter of 2018. Operating income was $186M, and operating margin was 7.7%, compared to $213M and 9.7%, respectively, in the fourth quarter of 2018. Ingalls Shipbuilding’s operating income for the fourth quarter was $59M, a decrease of $25M from the same period last year. Segment operating margin in the quarter was 8.4%, compared to 12.0% in the same period last year. The decreases were primarily due to lower risk retirement on the LHA and LPD programs. For the full year, Ingalls Shipbuilding’s revenues were $2.6B, a decrease of $52M or 2%, from 2018, primarily driven by lower revenues in the NSC program, surface combatants, and amphibious assault ships. (Source: HII 02/13/20) https://newsroom.huntingtoningalls.com/releases/huntington-ingalls-industries-reports-fourth-quarter-and-full-year-2019-results.