Huntington Ingalls Industries said 2024 Ingalls segment operating income was $211 million, lower than $362 million in 2023, and Newport News segment operating income was $246 million, lower than $379 million. Mission Technologies segment operating income was $116 million, higher than $101 million.

1. 01

   Huntington Ingalls Industries said 2024 Ingalls segment operating income was $211 million, lower than $362 million in 2023, and Newport News segment operating income was $246 million, lower than $379 million. Mission Technologies segment operating income was $116 million, higher than $101 million.

2. 02

   The company said operating cash flow in 2024 was $393 million, compared to $970 million in 2023. It said free cash flow decreased $652 million from 2023, citing changes in trade working capital driven by the timing of billings across programs, lower earnings, and higher capital expenditures.

3. 03

   Huntington Ingalls Industries said total backlog as of December 31, 2024 was approximately $48.7 billion, and it expects approximately 21% of this backlog to be converted into sales during 2025. The company said the value of new contract awards during 2024 was approximately $12.1 billion.

4. 04

   The company issued $500 million of senior notes in November 2024 with maturities of 5.353% in 2030 and 5.749% in 2035, respectively. Huntington Ingalls Industries said it repurchased 607,841 shares for a total of $163 million in 2024, including $1 million in accrued commissions.

Key figures

Fiscal year ended December 31, 2024

Revenue

$11.5B

Operating income

$535M

Net income

$550M

EPS

$13.96

Operating cash flow

$393M

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.