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Huntington Ingalls Q2 profit climbs 9.5% YOY

Huntington Ingalls Industries Inc. said its second-quarter normalized net income was $2.97 per share, compared with the S&P Capital IQ consensus estimate of $2.68 per share.

EPS rose 13.6% year over year from $2.62.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $136.3 million, a gain of 9.5% from $124.4 million in the year-earlier period.

The normalized profit margin climbed to 7.3% from 7.3% in the year-earlier period.

Total revenue increased 9.3% year over year to $1.86 billion from $1.70 billion, and total operating expenses rose 9.3% from the prior-year period to $1.62 billion from $1.48 billion.

Reported net income grew 10.5% on an annual basis to $147.0 million, or $3.21 per share, from $133.0 million, or $2.80 per share.