Huntington Ingalls Raises Shipbuilding Revenue Forecast Amid Record Contract Awards
Huntington Ingalls Industries (HII) reported strong third-quarter 2026 results, highlighted by over $32 billion in new contract awards. These contracts, primarily focused on nuclear-powered submarines and aircraft carriers for the Navy, have pushed the company's total backlog to a substantial $86.2 billion. Consequently, management has raised its full-year shipbuilding revenue forecast to a range of $10.5 billion to $10.7 billion. The company is also seeing operational improvements through increased shipyard throughput and workforce expansion, having hired over 6,000 shipbuilders year-to-date. Additionally, the Mission Technologies division is scaling up its autonomous systems production following a 25% facility expansion in Massachusetts to meet rising demand for unmanned naval platforms.
Tickers: $HII
Topics: autonomous systems backlog growth defense contracts shipbuilding