Huntington Ingalls Industries Reports Fourth Quarter

Huntington Ingalls Industries Reports Fourth Quarter

Revenues were $2.8 billion in the quarter; $9.4 billion in 2020
The operating margin was 11.1% in the quarter; 8.5% in 2020
Diluted earnings per share were $6.15 in the quarter, $17.14 in 2020
Cash from operations was $1.1 billion, and free cash flow1 was $757 million in 2020
The backlog of $46.0 billion at year-end

NEWPORT NEWS, VA (STL.News) Huntington Ingalls Industries (NYSE:HII) reported fourth-quarter 2020 revenues of $2.8 billion, up 14.3% from the fourth quarter of 2019.  Operating income in the quarter was $305 million, and operating margin was 11.1%, compared to $186 million and 7.7%, respectively, in the fourth quarter of 2019. Diluted earnings per share in the quarter was $6.15, compared to $3.61 in the same period of 2019.

For the full year, revenues of $9.4 billion increased 5.2% over 2019.  Operating income in 2020 was $799 million, and operating margin was 8.5%, compared to $736 million and 8.3%, respectively, in 2019.  Diluted earnings per share for the full year was $17.14, compared to $13.26 in 2019.

Cash from operations in 2020 was $1.1 billion, and free cash flow1 was $757 million, compared to $896 million and $460 million, respectively, in 2019.

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Author: STLNEWS