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Huntington Ingalls Q3 profit climbs 40.1% YOY

Huntington Ingalls Industries Inc. said its third-quarter normalized net income amounted to $3.02 per share, compared with the S&P Capital IQ consensus estimate of $2.79 per share.

EPS climbed 45.4% year over year from $2.08.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $137.5 million, an increase of 40.1% from $98.1 million in the prior-year period.

The normalized profit margin increased to 7.4% from 5.8% in the year-earlier period.

Total revenue increased 10.7% year over year to $1.86 billion from $1.68 billion, and total operating expenses rose 7.9% from the prior-year period to $1.63 billion from $1.51 billion.

Reported net income grew 38.9% on an annual basis to $148.8 million, or $3.27 per share, from $107.1 million, or $2.27 per share.