HII struggles to grow despite Alion acquisition
Ingalls Shipbuilding successfully completed acceptance trials for the US Coast Guard’s ninth National Security Cutter. (Photo: Huntington Ingalls Industries)
Huntington Ingalls Industries has released its Q3 2021 report, showing limited growth from Q3 2020.
Operating income for Huntington Ingalls Industries (HII) in the Q3 2021 was $118 million and the operating margin was 5%, marking a fall from the Q3 2020 figures of $222 million operating income and 9.6% operating margin.
The decrease in operating income and operating margin were primarily the result of a less favourable operating FAS/CAS adjustment (the difference between expenses for pensions and other post-retirement benefits and the expenses included in operating income).
Net earnings in Q3 2021 reached $147 million, compared to $222 million in Q3 2020. Diluted earnings per share in the the quarter were $3.65, compared to $5.45 in the same period of 2020.
This reduction can also be attributed to lower revenues from existing programmes such as the Legend-class National Security Cutter, the Arleigh Burke-class guided-missile destroyer and amphibious assault ships.
New contract awards for HII in Q3 2021 totalled approximately $600 million, bringing the total backlog to approximately $50.1 billion as of 30 September 2021.
Moreover, the acquisition of Alion Science and Technology — and major contract awards such as a recent $273 million USN maintenance contract — indicate strong potential for growth in Q4.
More from Naval Warfare
-
![Euroatlas brings Greyshark AUV to Asia for its maiden visit]()
Euroatlas brings Greyshark AUV to Asia for its maiden visit
Euroatlas displayed its Greyshark autonomous underwater vehicle outside Europe for the first time, highlighting variant specifications and development progress at IMDEX 2025.
-
![Metal Shark starts production on HSMUSVs as US shipyard targets further Caribbean orders]()
Metal Shark starts production on HSMUSVs as US shipyard targets further Caribbean orders
The US shipyard’s new High Speed Maneuverable Unmanned Surface Vessel (HSMUSV) will have a range of more than 500 nautical miles.
-
![ST Engineering to supply the Republic of Singapore Navy with counter-mine systems]()
ST Engineering to supply the Republic of Singapore Navy with counter-mine systems
Singapore Technologies Engineering (ST Engineering) will supply uncrewed naval systems and supporting command and control equipment to support counter-mine operations with deliveries expected to begin in 2027.
-
![SOF Week 2025: SubSea Craft introduces MARS USV]()
SOF Week 2025: SubSea Craft introduces MARS USV
The MARS platform was built be a low-signature, multi-role, mission-configurable capability.
-
![US and European special operators test Icelandic AI-based solution for marine platforms]()
US and European special operators test Icelandic AI-based solution for marine platforms
Hefring Marine IMAS was designed to optimise vessels’ operation.
-
![US Navy expands GARC sUSV deployment]()
US Navy expands GARC sUSV deployment
The small, unmanned surface vehicle will operate this year in multiple operations and military exercises worldwide.
