Huntington Ingalls Industries Posts Higher Revenue, Operating Income, Net Income and Diluted EPS on Both Windows in Interim Filing

Bottom line

Huntington Ingalls Industries, the U.S. naval shipbuilder and defense-technology company identified as HUNTINGTON INGALLS INDUSTRIES, INC. under ticker HII, delivered higher revenue, operating income, net income and diluted earnings per share on both reporting windows in its interim filing. On the three-month reporting period the three months ended June 30, 2026, Revenues were $3,418,000,000 USD versus $3,082,000,000 USD in the prior-year the three months ended June 30, 2025, Operating Income (Loss) was $210,000,000 USD versus $163,000,000 USD, Net Income (Loss) Attributable to Parent was $208,000,000 USD versus $152,000,000 USD, and Earnings Per Share, Diluted was $5.27 per diluted share USD/SHARES versus $3.86 per diluted share USD/SHARES, each an authorized increase on a profit-to-profit transition. On the six-month year-to-date window the six months ended June 30, 2026, Revenues were $6,517,000,000 USD versus $5,816,000,000 USD, Operating Income (Loss) was $365,000,000 USD versus $324,000,000 USD, Net Income (Loss) Attributable to Parent was $357,000,000 USD versus $301,000,000 USD, and Earnings Per Share, Diluted was $9.06 per diluted share USD/SHARES versus $7.66 per diluted share USD/SHARES, again each an authorized increase on a profit-to-profit transition.

This filing is the 10-Q for the period-ended-2026-06-30 period, filed under SEC accession 0001501585-26-000047 by CIK 0001501585. The unaudited condensed consolidated financial statements include all adjustments of a normal recurring nature considered necessary by management for a fair presentation, and certain prior-year amounts have been reclassified to conform to the current-year presentation; the Company has prepared them in conformity with GAAP and the instructions to 10-Q. HII continues to be organized into three reportable segments — Ingalls Shipbuilding, Newport News Shipbuilding, and Mission Technologies — and closes its books on a "fiscal" calendar that ends on a Friday near the quarter-end date. During the six months covered, no new Accounting Standards Updates were adopted that had a material impact, and the Company is evaluating several recently issued ASUs. Readers can compare the profit-to-profit pattern across filings, for example against Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in the reporting period Filing.

The filing evidence does not attribute this change to any single cause.

Financial performance

YOY - Revenues were $6,517,000,000 USD for the six-month year-to-date period (the six months ended June 30, 2026), higher than the prior-year comparative of $5,816,000,000 USD for the six months ended June 30, 2025. - Operating Income (Loss) was a profit of $365,000,000 USD for the six months ended June 30, 2026, higher than the prior-year profit of $324,000,000 USD for the six months ended June 30, 2025. The transition remains profit to profit. - Net Income (Loss) Attributable to Parent was a profit of $357,000,000 USD for the six months ended June 30, 2026, higher than the prior-year profit of $301,000,000 USD for the six months ended June 30, 2025. The transition remains profit to profit. - Earnings Per Share, Diluted was $9.06 per diluted share USD/SHARES for the six months ended June 30, 2026, higher than the prior-year $7.66 per diluted share USD/SHARES for the six months ended June 30, 2025. The transition remains profit to profit.

QOQ - Revenues were $3,418,000,000 USD for the three-month reporting period (the three months ended June 30, 2026), higher than the prior-year comparative of $3,082,000,000 USD for the three months ended June 30, 2025. - Operating Income (Loss) was a profit of $210,000,000 USD for the three months ended June 30, 2026, higher than the prior-year profit of $163,000,000 USD for the three months ended June 30, 2025. The transition remains profit to profit. - Net Income (Loss) Attributable to Parent was a profit of $208,000,000 USD for the three months ended June 30, 2026, higher than the prior-year profit of $152,000,000 USD for the three months ended June 30, 2025. The transition remains profit to profit. - Earnings Per Share, Diluted was $5.27 per diluted share USD/SHARES for the three months ended June 30, 2026, higher than the prior-year $3.86 per diluted share USD/SHARES for the three months ended June 30, 2025. The transition remains profit to profit.

GUIDANCE - The accounting context indicates that certain prior-year amounts were reclassified to conform to the current-year presentation. Management states that the unaudited condensed consolidated financial statements include normal recurring adjustments considered necessary for a fair presentation and should be read with the audited consolidated financial statements in the annual report. - The company uses a fiscal calendar that requires businesses to close their books on a Friday near quarter-end, which management describes as normalizing the potentially disruptive effects of quarterly closings on business processes. - Management also says that preparing the statements requires estimates and judgments affecting reported assets, liabilities, contingencies, revenues, and expenses. Actual results could differ materially from those estimates. - No new Accounting Standards Updates adopted during the six months ended June 30, 2026 had a material impact on the consolidated financial statements. Management is evaluating the effects of issued but not yet adopted guidance, including requirements concerning income-statement expense disaggregation, selling-expense disclosures, and internal-use software cost capitalization. - The company’s marketable securities supporting certain non-qualified pension plans are held at fair value within Level 1, while recent trades of debt instruments in inactive markets fall within Level 2.

EXPECTATIONS - The reported figures for the three months ended June 30, 2026 and the six months ended June 30, 2026 were higher than the corresponding prior-year windows across revenue, operating income, net income attributable to the parent, and diluted EPS, while preserving profit in the earnings measures. - The filing evidence does not attribute this change to any single cause. - The filing evidence contains no peer or industry comparison. - The filing evidence does not provide a management forecast, target, or peer benchmark sufficient to support a separate forward-looking expectation. The appropriate baseline is the reported year-over-year improvement across both windows, interpreted alongside the company’s accounting, fiscal-calendar, and estimates disclosures.

Operating drivers and segments

The Company reports three segments: Ingalls Shipbuilding in Mississippi, Newport News Shipbuilding in Virginia, and Mission Technologies, which develops integrated technology solutions for an all-domain force. Group revenues were $3,418,000,000 USD for the three-month period the three months ended June 30, 2026, against $3,082,000,000 USD for the prior-year quarter; on a six-month year-to-date basis revenues were $6,517,000,000 USD for the six months ended June 30, 2026, against $5,816,000,000 USD for the six months ended June 30, 2025. Operating income was $210,000,000 USD for the quarter and $365,000,000 USD for the half-year period, with the comparable prior-year operating income figures of $163,000,000 USD and $324,000,000 USD, respectively. The filing does not break out revenue or operating income by Ingalls, Newport News or Mission Technologies in the data the catalog hands to this section, so segment-level margin moves cannot be quantified here.

Management frames the work in two narratives: ship construction for the U.S. Navy and adjacent technology work through Mission Technologies. Cumulative catch-up revenue adjustments disclosed in the filing include an unfavorable adjustment on the RCOH of USS George Washington (CVN) at Newport News in both the quarter and the half-year, a favorable Arleigh Burke class (DDG) multi-year construction adjustment at Ingalls in the quarter and the half-year, an unfavorable adjustment on the Enterprise (CVN) and Doris Miller (CVN) construction contract at Newport News and the Bougainville (LHA) contract at Ingalls in the quarter, with the Enterprise/Doris Miller unfavorable adjustment also present in the half-year. These adjustments are presented by management as estimate revisions that flow through revenue and operating income under long-term contract accounting. Forward-looking accounting guidance is also disclosed: a recently issued FASB update on expense disaggregation and software cost capitalization has not yet been adopted as of the cut-off date. Other items management highlights include a fair-value hierarchy treatment of grantor trust marketable securities and long-term debt, a fiscal calendar that closes books on a Friday near each quarter-end, and the use of the duration of long-term production contracts as the operating cycle.

Independent analysis of these disclosures is limited to the items the catalog supplies. The filing evidence does not attribute the revenue and operating income movements to any single cause. The filing evidence contains no peer or industry comparison. As a cross-check, readers can compare the pattern of revenue and operating income both rising on the same year-over-year basis to filings covered elsewhere, such as Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing, noting that such comparisons illustrate structure rather than provide defense-industry benchmarking.

The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison.

Cash flow and capital

The operating cash flow line is the most striking shift in the year-to-date window. Net Cash Provided by (Used in) Operating Activities for the six-month period ended the six months ended June 30, 2026 came in at -$421,000,000 USD, marking a directional move from a positive figure of $428,000,000 USD in the prior-year six-month comparison to a use of cash rather than a source. The filing evidence does not attribute this change to any single cause.

Investing activity remained a use of cash in both windows. Net Cash Provided by (Used in) Investing Activities was -$189,000,000 USD for the current six-month period, against -$291,000,000 USD for the prior-year comparative. Financing activity was also a use of cash in both windows, at -$152,000,000 USD for the current six-month period versus -$625,000,000 USD for the prior-year comparative, indicating a larger outflow this year than last rather than a change of sign.

Within the investing line, Payments to Acquire Property, Plant, and Equipment rose year over year. Capital spending was $193,000,000 USD for the six months ended the six months ended June 30, 2026, up from $163,000,000 USD for the prior-year comparative, consistent with continued investment in the shipyard base. The dividend line moved in the same direction. Payments of Ordinary Dividends, Common Stock totaled $109,000,000 USD for the current six-month period versus $106,000,000 USD in the prior-year comparative, so the cash return to shareholders stepped higher. For context on how dividend policy can be weighed alongside reinvestment, readers can compare against other interim issuers profiled on the platform, such as the Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing write-up, although direct peer cash-flow benchmarking is not available here.

On the balance sheet side, working capital and leverage positions at the reporting date are the headline items. Accounts Receivable, after Allowance for Credit Loss, stood at $452,000,000 USD as of the balance sheet date of June 30, 2026, while Accounts Payable, Current was $737,000,000 USD on the same date, leaving a receivable balance larger than the payable balance. Long-term Debt, Excluding Current Maturities was $2,702,000,000 USD as of the balance sheet date of June 30, 2026, describing the long-dated borrowing stack net of near-term maturities. The filing evidence contains no peer or industry comparison.

Capital allocation outside the cash-flow statement was quiet. The filing narrative states that the Company did not repurchase any shares for each of the six months ended the six months ended June 30, 2026 and the six months ended June 30, 2025, with repurchases made from time to time at management's discretion in accordance with applicable federal securities laws, so treasury-stock activity did not absorb cash in either window. Combined with the dividend step-up and higher capital spending, the year-to-date picture is one of a larger investing outflow, a larger financing outflow, and an operating swing from source to use. The filing evidence does not attribute this change to any single cause.

Peer and historical context

- Investors evaluating the latest HUNTINGTON INGALLS INDUSTRIES, INC. results have only the company's own prior-year windows as a yardstick; the filing offers no contemporaneous readout from competing defense shipbuilders, so any read-across to peers has to come from outside this document. - Across the three-month and six-month comparisons, Revenues, Operating Income (Loss), and Net Income (Loss) Attributable to Parent all moved in the same authorized direction of higher on a profit-to-profit basis, with diluted EPS also authorized as higher on both windows, which a reader might interpret as a coherent top-line and bottom-line trend within the company's own reporting calendar. - The six-month operating-cash-flow line, by contrast, moves the other way, and the filing does not attribute the timing gap to any single driver, so attributing that divergence to working-capital, advance-payment, or contract-milestone effects would be speculation beyond what this evidence supports. - The favorable and unfavorable cumulative catch-up revenue adjustments flagged across the USS John C., USS George Washington, Arleigh Burke, Enterprise and Doris Miller, and Bougainville programs show that reported revenue was moved in both directions by estimate revisions in the current and prior periods, which complicates any clean read of higher revenue as organic demand rather than accounting remeasurement. - The tax expense reclassified from accumulated other comprehensive loss is described only as "less than" a stated million amount for several of the windows, leaving the precise relationship between other comprehensive loss, the catch-up adjustments, and bottom-line EPS unquantified within this filing. - Treasury-stock activity is described as zero repurchases in each of the two six-month windows compared, which removes buyback-driven per-share support from any historical comparison an investor might otherwise assume.

A peer set for HUNTINGTON INGALLS INDUSTRIES, INC. is not provided in the filing, and The filing evidence contains no peer or industry comparison. applies here, so this section confines its comparison to the company's own year-over-year windows rather than to industry peers. On that internal yardstick, the picture is unusually consistent across the income statement. Revenues were $3,418,000,000 USD for the three months ended June 30, 2026 versus $3,082,000,000 USD for the three months ended June 30, 2025, and Revenues were $6,517,000,000 USD for the six months ended June 30, 2026 versus $5,816,000,000 USD for the six months ended June 30, 2025; in both comparisons the authorized direction is higher. Operating Income (Loss) tracks that pattern, with $210,000,000 USD for the three months ended June 30, 2026 against $163,000,000 USD for the three months ended June 30, 2025, and $365,000,000 USD for the six months ended June 30, 2026 against $324,000,000 USD for the six months ended June 30, 2025, again higher on both windows. Net Income (Loss) Attributable to Parent repeats the same shape: $208,000,000 USD for the three months ended June 30, 2026 versus $152,000,000 USD for the three months ended June 30, 2025, and $357,000,000 USD for the six months ended June 30, 2026 versus $301,000,000 USD for the six months ended June 30, 2025, with profit-to-profit transitions on both windows. Earnings Per Share, Diluted carries the same authorized direction of higher on both the three-month and six-month windows, on a profit-to-profit basis.

The cash-flow statement tells a different story. Net Cash Provided by (Used in) Operating Activities was $428,000,000 USD for the six months ended June 30, 2025 and then -$421,000,000 USD for the six months ended June 30, 2026, an authorized move from positive to negative even as accrual profits expanded. The filing evidence does not attribute this change to any single cause.

For a sector-level benchmark, readers can compare the directional pattern here with Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in the reporting period Filing or CF Industries Holdings Reports Higher Revenue, Operating Income, and Diluted EPS on Both Windows in Interim Filing, which share the broad revenue-and-earnings-growth signature but sit outside defense shipbuilding, so any cross-sector inference should be treated as a directional sanity check rather than a like-for-like benchmark.

Scenario analysis

The base case assumes that HUNTINGTON INGALLS INDUSTRIES, INC. continues to convert its shipbuilding backlog into revenue and net profit at a pace roughly consistent with the six-month and three-month results reported in the period-ended-2026-06-30 10-Q filing under 0001501585-26-000047. Revenues for the six months ended the six months ended June 30, 2026 are higher than the prior-year six-month window the six months ended June 30, 2025, with the three-month comparison also showing higher revenues for the three months ended June 30, 2026 versus the three months ended June 30, 2025. Net Income (Loss) Attributable to Parent is also higher in both windows, with the second-quarter $208,000,000 remaining a profit and the year-to-date $357,000,000 sitting above the prior-year benchmark of $301,000,000. The favorable and unfavorable cumulative catch-up revenue adjustments disclosed in the cited note — including movements on aircraft carriers, amphibious assault ships, destroyers and the John C. Stennis refueling and complex overhaul — are absorbed as normal course-of-contract volatility rather than as a directional change, consistent with the long-dated contract structure of the Ingalls and Newport News segments. Cash outflows from investing and financing activities remain negative while operating cash flow is negative for the year-to-date period versus positive a year earlier, a swing the company must keep within manageable bounds if the base case holds. The filing evidence does not attribute this change to any single cause.

The upside case builds on the same authorized comparisons but assumes they strengthen. If revenues in the three months ended June 30, 2026 and the six months ended June 30, 2026 continue to outpace the prior-year periods $3,082,000,000 and $5,816,000,000, and if net income for both the quarter $208,000,000 and the year-to-date period $357,000,000 continue to widen the gap over the prior-year profit levels $152,000,000 and $301,000,000, operating income could deliver the kind of expansion highlighted in filings such as Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing. A favorable resolution of the cumulative catch-up adjustments on the Arleigh Burke multi-year construction contract and on the carrier refueling work would reinforce that trajectory, while continued payments of ordinary dividends on common stock and disciplined capital spending would support a re-rating without depending on share repurchases — none were made during the six-month window.

The downside case rests on the same reported data but tilts the other way. If revenue growth in the three months ended June 30, 2026 versus $3,082,000,000 stalls and net income for the quarter slips below the prior-year profit of $152,000,000, the quarter-over-quarter momentum described in the base case would erode. A larger unfavorable cumulative catch-up adjustment on aircraft carrier or amphibious assault construction contracts would magnify the pressure. Operating cash flow has already moved from positive in the prior year to negative in the half-year period, and any further deterioration would compound the existing negative financing and investing cash flows, raising the importance of disciplined capital allocation — though The filing evidence contains no peer or industry comparison..

Risks and what to watch

The single largest disclosed risk sitting on top of the reported numbers is the concentration of recent revenue recognition inside a handful of shipbuilding programs. Within the three months ended June 30, 2026, cumulative catch-up revenue adjustments included an unfavorable adjustment on the RCOH of USS George Washington at the Newport News segment, together with unfavorable adjustments on the Enterprise (CVN (omitted)) and Doris Miller (CVN (omitted)) construction contract at Newport News and on the Bougainville (LHA (omitted)) construction contract at Ingalls. The same pattern repeated at the half-year window, where the Enterprise/Doris Miller and George Washington adjustments both registered as unfavorable on the Newport News side, even as a favorable Arleigh Burke class (DDG (omitted)) multi-year construction contract partially offset them at Ingalls. With $3,418,000,000 and $6,517,000,000 both moving higher year over year, that mix tells the reader the headline revenue direction is being delivered alongside negative catch-up noise on flagship aircraft carrier and large-deck amphibious programs.

A second risk is the asymmetry between the two reporting windows. The quarter carried the bulk of the unfavorable catch-up weight, while the half-year diluted it through the Arleigh Burke favorability. If the cited note on segment results signals timing of long-lead carrier work rather than commercial wins, the next period could re-concentrate those charges in a single window again. The filing evidence does not attribute this change to any single cause.

Counter-evidence to the downside narrative is also present. Revenue increased on both windows, with $3,418,000,000 higher than $3,082,000,000 and $6,517,000,000 higher than $5,816,000,000. Net income also moved up on both windows, with $208,000,000 higher than $152,000,000 and $357,000,000 higher than $301,000,000, indicating that the unfavorable catch-ups did not derail profitability. Segment reporting also shows that contract balances are presented on a contract-by-contract net asset or liability basis, and that other segment items contain general and administrative expenses and other income and gains, net, which can swing segment results without reflecting contract execution quality.

Among the unknowns for this filing, the cited note on legal proceedings under Item 1, the risk-factor update under Item 1A, and the controls discussion under Item 4 do not provide quantified forward-looking exposure in the quoted evidence. The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison.

Readers weighing this filing against peer interim filings can compare with Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in the reporting period Filing and KVH Industries posts higher revenue across both windows in interim filing, with year-to-date swing from loss to profit but softer quarter-level earnings to gauge how concentrated-program catch-up exposure compares with diversified electronics backdrops. The metrics to watch next period are the size and direction of cumulative catch-up adjustments on the George Washington, Enterprise/Doris Miller, and Bougainville contracts, the Arleigh Burke class favorability trajectory at Ingalls, and whether quarter and half-year revenue and net income again print higher than the prior-year comparatives.