HII Reports Q1 2025 Results

HII today reported results for the first quarter of fiscal 2025.

First quarter 2025 revenues of $2.7 billion were down 2.5% from the first quarter of 2024, driven by lower volume at Newport News Shipbuilding, Ingalls Shipbuilding and Mission Technologies.

Operating income in the first quarter of 2025 was $161 million and operating margin was 5.9%, compared to $154 million and 5.5%, respectively, in the first quarter of 2024. The increases were primarily driven by a more favorable operating FAS/CAS adjustment, as well as better segment operating results compared to the prior year.

Segment operating income² in the first quarter of 2025 was $171 million and segment operating margin² was 6.3%, compared to $170 million and 6.1%, respectively, in the first quarter of 2024. The increases were driven primarily by stronger results at Mission Technologies and Newport News Shipbuilding, largely offset by results at Ingalls Shipbuilding.

Net earnings in the quarter were $149 million, compared to $153 million in the first quarter of 2024. Diluted earnings per share in the quarter was $3.79, compared to $3.87 in the first quarter of 2024.

Net cash used in operating activities in the quarter was $395 million and free cash flow² was negative