Huntington Ingalls Industries, Inc 8-K, filed Oct 29, 2026

Huntington Ingalls Industries, Inc. (HII)

8-K 2026-10-29 For: 2026-10-29

Added on October 29, 2026

About this 8-K

Huntington Ingalls Industries, Inc filed this 8-K on October 29, 2026.

HII reported third-quarter fiscal 2026 revenue of $3.5 billion, net earnings of $217 million and new contract awards of $32.4 billion, and raised FY26 shipbuilding revenue guidance to between $10.5 and $10.7 billion. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	HII	New York Stock Exchange


Item 9.01.			Financial Statements and Exhibits.
(d)			Exhibits.


Exhibit No.						Description
99.1						Press Release dated October 29, 2026.
104						Cover Page Interactive Data File (embedded within Inline XBRL document)


	Three Months Ended										Nine Months Ended
	September 30										September 30
($ in millions, except per share amounts)	2026			2025			$ Change		% Change		2026			2025			$ Change		% Change
Sales and service revenues	$	3,537		$	3,192		$	345	10.8	%	$	10,054		$	9,008		$	1,046	11.6	%
Operating income	246			161			85		52.8	%	611			485			126		26.0	%
Operating margin %	7.0		%	5.0		%			191 bps		6.1		%	5.4		%			69 bps
Segment operating income1	262			179			83		46.4	%	658			522			136		26.1	%
Segment operating margin %1	7.4		%	5.6		%			180 bps		6.5		%	5.8		%			75 bps
Net earnings	217			145			72		49.7	%	574			446			128		28.7	%
Diluted earnings per share	$	5.48		$	3.68		$	1.80	48.9	%	$	14.53		$	11.35		$	3.18	28.0	%









1 Non-GAAP measures that exclude non-segment factors affecting operating income. See Exhibit B for definitions and reconciliations.


	Three Months Ended										Nine Months Ended
	September 30										September 30
($ in millions)	2026			2025			$ Change		% Change		2026			2025			$ Change		% Change
Revenues	$	876		$	828		$	48	5.8	%	$	2,446		$	2,189		$	257	11.7	%
Segment operating income	59			65			(6)		(9.2)	%	166			165			1		0.6	%
Segment operating margin %	6.7		%	7.9		%			(112) bps		6.8		%	7.5		%			(75) bps


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


	Prior FY26 Outlook	Current FY26 Outlook1
Shipbuilding Revenue	$10.2B - $10.4B	$10.5B - $10.7B
Shipbuilding Operating Margin2	6.0% - 6.5%	6.0% - 6.5%
Mission Technologies Revenue	$3.0B - $3.2B	$3.0B - $3.2B
Mission Technologies Segment Operating Margin	~5%	~6%
Mission Technologies EBITDA Margin2	8.4% - 8.6%	~9%

Operating FAS/CAS Adjustment	($44M)	($40M)
Non-current State Income Tax Expense3	~($20M)	($27M)
Interest Expense	($105M)	($100M)
Non-operating Retirement Benefit	$213M	$213M
Effective Tax Rate	~17%	~17%

Depreciation & Amortization	~$330M	~$330M
Capital Expenditures	4% - 5% of Sales	~$500M
Free Cash Flow2	$500M - $600M	$500M - $600M


	Three Months Ended September 30				Nine Months Ended September 30
(in millions, except per share amounts)	2026		2025		2026		2025
Sales and service revenues
Product sales	$	2,437	$	2,072	$	6,712	$	5,742
Service revenues	1,100		1,120		3,342		3,266
Sales and service revenues	3,537		3,192		10,054		9,008
Cost of sales and service revenues
Cost of product sales	2,100		1,815		5,826		4,962
Cost of service revenues	957		983		2,909		2,863
Income from operating investments, net	26		12		52		33
Other income and gains (losses), net	(3)		—		(3)		1
General and administrative expenses	257		245		757		732

Operating income	246		161		611		485
Other income (expense)
Interest expense	(26)		(23)		(75)		(79)
Non-operating retirement benefit	53		48		159		143
Other, net	2		18		22		30
Earnings before income taxes	275		204		717		579
Federal and foreign income tax expense	58		59		143		133
Net earnings	$	217	$	145	$	574	$	446

Basic earnings per share	$	5.49	$	3.69	$	14.57	$	11.35
Weighted-average common shares outstanding	39.5		39.3		39.4		39.3

Diluted earnings per share	$	5.48	$	3.68	$	14.53	$	11.35
Weighted-average diluted shares outstanding	39.6		39.4		39.5		39.3

Dividends declared per share	$	1.38	$	1.35	$	4.14	$	4.05

Net earnings from above	$	217	$	145	$	574	$	446
Other comprehensive income
Change in unamortized benefit plan costs	2		1		6		3

Tax expense for items of other comprehensive income	(1)		(1)		(2)		(1)
Other comprehensive income, net of tax	1		—		4		2
Comprehensive income	$	218	$	145	$	578	$	448


($ in millions)	September 30, 2026		December 31, 2025
Assets
Current Assets
Cash and cash equivalents	$	387	$	774
Accounts receivable, net of allowance for expected credit losses of $3 million as of 2026 and $2 million as of 2025	361		339
Contract assets	2,125		1,758
Inventoried costs	240		219
Income taxes receivable	250		284


Prepaid expenses and other current assets	100		77
Total current assets	3,463		3,451







Property, plant, and equipment, net of accumulated depreciation of $2,892 million as of 2026 and $2,754 million as of 2025	3,849		3,726

Operating lease assets	275		267
Goodwill	2,650		2,650
Other intangible assets, net of accumulated amortization of $1,285 million as of 2026 and $1,222 million as of 2025	631		694
Pension plan assets	1,668		1,544

Miscellaneous other assets	444		417

Total assets	$	12,980	$	12,749
Liabilities and Stockholders' Equity
Current Liabilities
Trade accounts payable	$	709	$	556
Accrued employees’ compensation	403		443

Current portion of postretirement plan liabilities	119		119
Current portion of workers’ compensation liabilities	214		217
Contract liabilities	780		1,220

Other current liabilities	513		490
Total current liabilities	2,738		3,045
Long-term debt	2,704		2,700
Pension plan liabilities	155		155
Other postretirement plan liabilities	187		200
Workers’ compensation liabilities	437		442
Long-term operating lease liabilities	225		223
Deferred tax liabilities	694		572
Other long-term liabilities	348		339
Total liabilities	7,488		7,676
Commitments and Contingencies
Stockholders’ Equity
Common stock, $0.01 par value; 150,000,000 shares authorized; 53,990,247 shares issued and 39,405,538 shares outstanding as of 2026, and 53,826,236 shares issued and 39,241,527 shares outstanding as of 2025	1		1
Additional paid-in capital	2,096		2,087
Retained earnings	5,893		5,487
Treasury stock	(2,449)		(2,449)
Accumulated other comprehensive loss	(49)		(53)
Total stockholders’ equity	5,492		5,073
Total liabilities and stockholders’ equity	$	12,980	$	12,749


Item 2.02.			Results of Operations and Financial Condition.


	Nine Months Ended September 30
($ in millions)	2026		2025
Operating Activities:
Net earnings	$	574	$	446
Adjustments to reconcile net cash provided by operating activities:
Depreciation	167		164
Amortization of purchased intangibles	63		78
Stock-based compensation	47		43

Deferred income taxes	120		121




Gain on investments in marketable securities	(18)		(28)

Other non-cash transactions, net	17		15
Change in
Accounts receivable	(22)		(162)
Contract assets	(367)		(186)
Inventoried costs	(21)		(13)
Prepaid expenses and other assets	(2)		(23)
Accounts payable and accruals	(327)		207
Retiree benefits	(132)		(116)
Net cash provided by operating activities	99		546
Investing Activities:
Capital expenditures
Capital expenditure additions	(288)		(268)
Grant proceeds for capital expenditures	7		6


Proceeds from sale of investments	—		5
Acquisitions of businesses	—		(132)

Other investing activities, net	1		2
Net cash used in investing activities	(280)		(387)
Financing Activities:

Repayment of long-term debt	—		(500)