Huntington Ingalls Industries Inc (NYSE:HII) released earnings and beat consensus estimates for revenue and earnings for the fourth quarter 2014. Revenue for the quarter was $1.9 million which beat estimates but was actually lower than the same period in 2013. Bottom-line earnings were registered at $1.66 per share and showed a same-period growth of 31%. Yearly revenue was $6.9 million which was also a 2% increase over the 2013 results. For the full-year earnings totaled $7.14 per share, a 33% increase over the same-period a year ago. Overall the numbers were solid and pleased analysts.
The Newport News Shipbuilding operations contributed $1.3 million to the overall number which was again year-over-year of 5%. Huntington Ingalls Industries Inc (NYSE:HII) benefited from better-than-expected sales of submarines and energy. Ingalls Shipbuilding reported sales of $608 million but that was a 17% decline from 2013 sales. The decline was due to slow amphibious vehicle sales, surface combatants and the NSC program. The company received new orders worth $500k and a backlog of other orders valued at $21.4 billion. The company’s Stoller Newport News Nuclear division was awarded a $2 million contract by CH2M Hill Plateau Remediation Company to provide services. The contract is to clean and monitor the area and also ensure safety and environmental concerns are met.
Huntington Ingalls is the country’s largest shipbuilder and provides a variety of services along with its portfolio of ships, amphibious vehicles and submarines. Huntington Ingalls Industries Inc (NYSE:HII) has been operating for over a century and has built more military class ships than any other company. They employ about 38,000 people and operate domestically and abroad. As war efforts taper down the company has seen less orders for assault and amphibious vehicles but has made it up with other items from its portfolio.
The stock is trading at its all-time highs and looks strong doing so. Momentum is stretched deep and volume is consistent. $128.86is the support level here and a slight pull back would be healthy.