$HII
HUNTINGTON INGALLS INDUSTRIES, INC.

2024 Q2 Form 10-Q Financial Statement

#000150158524000013 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $2.977B $2.805B
YoY Change 6.82% 4.9%
Cost Of Revenue $2.545B $2.430B
YoY Change 6.13% 4.56%
Gross Profit $432.0M $375.0M
YoY Change 11.05% 7.14%
Gross Profit Margin 14.51% 13.37%
Selling, General & Admin $255.0M $232.0M
YoY Change 7.14% 5.45%
% of Gross Profit 59.03% 61.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.00M $80.00M
YoY Change -8.05% 45.45%
% of Gross Profit 18.52% 21.33%
Operating Expenses $254.0M $233.0M
YoY Change 7.17% 5.43%
Operating Profit $189.0M $142.0M
YoY Change 24.34% 0.71%
Interest Expense $24.00M -$9.000M
YoY Change -220.0% -137.5%
% of Operating Profit 12.7% -6.34%
Other Income/Expense, Net $5.000M $51.00M
YoY Change -86.49% 466.67%
Pretax Income $216.0M $184.0M
YoY Change 27.81% 12.88%
Income Tax $43.00M $31.00M
% Of Pretax Income 19.91% 16.85%
Net Earnings $173.0M $153.0M
YoY Change 33.08% 18.6%
Net Earnings / Revenue 5.81% 5.45%
Basic Earnings Per Share $4.38 $3.87
Diluted Earnings Per Share $4.38 $3.87
COMMON SHARES
Basic Shares Outstanding 39.43M shares 39.59M shares
Diluted Shares Outstanding 39.50M shares 39.50M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.00M $10.00M
YoY Change -96.49% -96.86%
Cash & Equivalents $11.00M $10.00M
Short-Term Investments
Other Short-Term Assets $106.0M $105.0M
YoY Change 35.9% 34.62%
Inventory $198.0M $199.0M
Prepaid Expenses
Receivables $706.0M $2.379B
Other Receivables $197.0M $140.0M
Total Short-Term Assets $2.912B $2.833B
YoY Change 3.37% 2.94%
LONG-TERM ASSETS
Property, Plant & Equipment $3.342B $3.549B
YoY Change -3.41% 11.53%
Goodwill $2.618B $2.618B
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.342B $1.303B
YoY Change 33.0% 24.57%
Total Long-Term Assets $8.398B $8.334B
YoY Change 4.43% 2.93%
TOTAL ASSETS
Total Short-Term Assets $2.912B $2.833B
Total Long-Term Assets $8.398B $8.334B
Total Assets $11.31B $11.17B
YoY Change 4.15% 2.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $652.0M $608.0M
YoY Change 25.63% 20.4%
Accrued Expenses $579.0M $567.0M
YoY Change 0.87% 1.43%
Deferred Revenue $886.0M $936.0M
YoY Change 6.36% 15.56%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $942.0M $203.0M
YoY Change 94.63% -49.12%
Total Short-Term Liabilities $3.563B $2.948B
YoY Change 21.73% 2.83%
LONG-TERM LIABILITIES
Long-Term Debt $1.715B $2.235B
YoY Change -28.42% -10.53%
Other Long-Term Liabilities $387.0M $1.507B
YoY Change -74.72% 309.51%
Total Long-Term Liabilities $2.102B $3.742B
YoY Change -46.47% 30.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.563B $2.948B
Total Long-Term Liabilities $2.102B $3.742B
Total Liabilities $7.132B $7.041B
YoY Change -1.12% -3.36%
SHAREHOLDERS EQUITY
Retained Earnings $4.977B $4.855B
YoY Change 12.25% 11.51%
Common Stock $2.029B $2.038B
YoY Change -0.05% 0.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.414B $2.349B
YoY Change 8.4% 5.81%
Treasury Stock Shares
Shareholders Equity $4.178B $4.126B
YoY Change
Total Liabilities & Shareholders Equity $11.31B $11.17B
YoY Change 4.15% 2.93%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $173.0M $153.0M
YoY Change 33.08% 18.6%
Depreciation, Depletion And Amortization $80.00M $80.00M
YoY Change -8.05% 45.45%
Cash From Operating Activities -$9.000M -$202.0M
YoY Change -110.98% 2144.44%
INVESTING ACTIVITIES
Capital Expenditures $90.00M $75.00M
YoY Change 32.35% 74.42%
Acquisitions
YoY Change
Other Investing Activities -$1.000M $4.000M
YoY Change -101.72% -123.53%
Cash From Investing Activities -$91.00M -$71.00M
YoY Change 810.0% 18.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $145.0M
YoY Change 1350.0%
Cash From Financing Activities 101.0M -147.0M
YoY Change -231.17% 83.75%
NET CHANGE
Cash From Operating Activities -9.000M -202.0M
Cash From Investing Activities -91.00M -71.00M
Cash From Financing Activities 101.0M -147.0M
Net Change In Cash 1.000M -420.0M
YoY Change -120.0% 181.88%
FREE CASH FLOW
Cash From Operating Activities -$9.000M -$202.0M
Capital Expenditures $90.00M $75.00M
Free Cash Flow -$99.00M -$277.0M
YoY Change -807.14% 432.69%

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DESCRIPTION OF BUSINESS<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Huntington Ingalls Industries, Inc. ("HII" or the "Company") is a global, all-domain defense partner, building and delivering the world’s most powerful, survivable naval ships and technologies that safeguard America’s seas, sky, land, space, and cyber. HII is organized into three reportable segments: Ingalls Shipbuilding ("Ingalls"), Newport News Shipbuilding ("Newport News"), and Mission Technologies. For more than a century, the Company's Ingalls segment in Mississippi and Newport News segment in Virginia have built more ships in more ship classes than any other U.S. naval shipbuilder, making HII America's largest shipbuilder. The Mission Technologies segment develops integrated solutions that enable today's connected, all-domain force.</span></div>
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