The company said sales and service revenues for the 3 months ended June 30, 2024 rose $190 million, or 7%, from the same period a year earlier, mainly on higher volumes at Mission Technologies, Ingalls and Newport News.

1. 01

   The company said sales and service revenues for the 3 months ended June 30, 2024 rose $190 million, or 7%, from the same period a year earlier, mainly on higher volumes at Mission Technologies, Ingalls and Newport News.

2. 02

   The company said Ingalls segment operating income for the 3 months ended June 30, 2024 was $56 million, compared with $65 million in the same period a year earlier. It cited lower performance on surface combatants as the main factor, partially offset by a delivery contract incentive on the LPD 29.

3. 03

   The company said cash used in operating activities for the 6 months ended June 30, 2024 was $211 million, compared with cash provided by operating activities of $73 million in the same period a year earlier. It attributed the change mainly to trade working capital.

4. 04

   The company said total backlog as of June 30, 2024 was $48.5 billion, up from $48.1 billion as of December 31, 2023. It also said new contract awards for the 6 months ended June 30, 2024 totaled $6.2 billion.

Key figures

Quarter ended June 30, 2024

Revenue

$3.0B

Operating income

$189M

Net income

$173M

EPS

$4.38

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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