Huntington Ingalls Industries Reports Record Q3 2026 Revenue and Raised Shipbuilding Guidance
Huntington Ingalls Industries (HII) delivered a strong third-quarter performance, reporting revenue of $3.5 billion, a 10.8% increase year-over-year. This growth was primarily driven by increased volumes at Newport News Shipbuilding and Ingalls Shipbuilding. Diluted earnings per share rose significantly to $5.48 from $3.68 in the prior year period. The company's contract backlog reached a massive $86.2 billion, bolstered by $32.4 billion in new awards, including critical submarine contracts for the Virginia-class and Columbia-class programs. Due to improved throughput and capacity, management raised its full-year shipbuilding revenue guidance to a range of $10.5 billion to $10.7 billion. While Ingalls Shipbuilding saw margin compression due to labor recovery costs and surface combatant performance, Newport News Shipbuilding margins improved significantly. The Mission Technologies segment also showed strength with a 2.4x book-to-bill ratio, supported by growth in unmanned systems.
Tickers: $HII
Topics: Contract Awards Defense Contracting Earnings Per Share Revenue Growth Shipbuilding