Huntington Ingalls Industries, Inc. (HII) reported fourth-quarter earnings that outperformed those of the same period last year and exceeded the projections of Wall Street.
The company's earnings came in at $274 million, translating to $6.90 per share. This represents a significant increase compared to the $123 million, or $3.07 per share, reported in the previous year's fourth quarter.
On average, analysts had predicted the company would earn $4.28 per share, based on data compiled by Thomson Reuters. These analysts' predictions generally do not factor in extraordinary items.
Revenue for the quarter increased 13.2% to $3.18 billion, up from $2.81 billion the previous year.
A brief overview of Huntington Ingalls Industries, Inc.'s earnings according to Generally Accepted Accounting Principles (GAAP):
Fourth-quarter earnings were $274 million, up from $123 million last year. Earnings per share for the fourth quarter stood at $6.90, compared to $3.07 last year. Analysts' estimate was $4.28. Fourth-quarter revenue was $3.18 billion, marking an increase from last year's $2.81 billion.
