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Huntington Ingalls Industries (HII) Q4 FY2021 earnings: revenue $2.7 billion, down 2.9% on the year

Huntington Ingalls Industries, Inc. (HII) reported revenue of $2.7 billion for Q4 FY2021, the quarter ended 31 December 2021, down 2.9% on the same quarter a year earlier. Net income was $120 million, down 51.8% on the year, and diluted earnings per share $2.97. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2022.

Revenue
$2.7 billion
-2.9% on the year · +14.5% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
4.5%
11.1% a year earlier
Q1 FY2020Q4 FY2021
Net income
$120 million
-51.8% on the year · -18.4% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$2.97
-51.7% on the year · -18.6% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue2,6772,3382,757+14.5%-2.9%
Cost of revenue2,304n/an/a
Gross profit373n/an/a
Gross margin13.9%n/an/a
Operating income120118305+1.7%-60.7%
Operating margin4.5%5.0%11.1%
Interest expense26.0n/an/a
Pre-tax income147n/an/a
Income tax27.0n/an/a
Effective tax rate18.4%n/an/a
Net income120147249-18.4%-51.8%
Net margin4.5%n/an/a
Diluted EPS$2.97$3.65$6.15-18.6%-51.7%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow271n/an/a
Capital expenditure115n/an/a
Free cash flow156n/an/a
Free cash flow margin5.8%n/an/a
Cash from investing-112n/an/a
Cash from financing-87.0n/an/a
Depreciation and amortisation91.074.070.0+23.0%+30.0%
Share-based compensation14.0n/an/a
Buybacks14.0n/an/a
Dividends paid48.0n/an/a
Dividend per share$1.18n/an/a
Diluted shares, weighted40m40mn/a0.0%
Shares outstanding at period end40m40m40m-0.2%-1.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity2,8082,1891,901+28.3%+47.7%
Debt3,2983,3211,754-0.7%+88.0%
Operating lease liabilities194n/an/a
Other liabilities4,327n/an/a
Total liabilities and equity10,627n/an/a
Fixed assets3,107n/an/a
Goodwill2,628n/an/a
Intangible assets1,159n/an/a
Cash and equivalents627555512+13.0%+22.5%
Receivables433n/an/a
Other assets2,673n/an/a
Total assets10,627n/an/a

Questions

What was Huntington Ingalls Industries' revenue in Q4 FY2021?

Huntington Ingalls Industries (HII) reported revenue of $2.7 billion for Q4 FY2021, the quarter ended 31 December 2021, down 2.9% on the same quarter a year earlier.

How much did Huntington Ingalls Industries earn in Q4 FY2021?

Net income for Q4 FY2021 was $120 million, down 51.8% on the year, and diluted earnings per share $2.97.

When did Huntington Ingalls Industries report Q4 FY2021 results?

Huntington Ingalls Industries filed its 10-K for the year that ended with the quarter on 10 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue2,6772,5762,6622,6262,8122,6742,7872,8163,1772,8052,9772,7493,0042,7343,0823,1923,4763,0993,4183,537
Cost of revenue2,3042,2272,2722,2642,4732,3242,3982,4002,6862,4302,5452,4272,6832,3402,6872,7983,0742,6912,9873,057
Gross profit373349390362339350389416491375432322321394395394402408431480
Gross margin14%14%15%14%12%13%14%15%15%13%15%12%11%14%13%12%12%13%13%14%
Operating income12013819113110514115617231215418982.0110161163161172155210246
Operating margin4%5%7%5%4%5%6%6%10%5%6%3%4%6%5%5%5%5%6%7%
Interest expense26.026.026.027.023.024.024.022.025.021.024.023.027.028.028.023.026.022.027.026.0
Pre-tax income147176222162159163169189332184216112131187188204198188254275
Tax rate18%20%20%15%23%21%23%22%17%17%20%10%6%20%19%29%20%21%18%21%
Net income120140178138123129130148274153173101123149152145159149208217
Net margin4%5%7%5%4%5%5%5%9%5%6%4%4%5%5%5%5%5%6%6%
Diluted EPS$2.97$3.50$4.44$3.44$3.07$3.23$3.27$3.70$6.90$3.87$4.38$2.56$3.15$3.79$3.86$3.68$4.04$3.79$5.27$5.48
Operating cash flow271-83.0267-19.0601-9.082.0335562-202-9.0213391-395823118650-390-31.0520
Capital expenditure11543.059.077.010543.068.053.012875.090.077.011467.093.010213474.011995.0
Free cash flow156-126208-96.0496-52.014.0282434-277-99.0136277-46273016.0516-464-150425
Buybacks14.010.017.014.011.09.07.021.038.062.065.035.00.0n/an/an/an/an/an/an/a
Dividends paid48.047.047.048.050.049.050.050.051.051.051.052.052.053.053.053.054.054.055.054.0
Shares outstanding40m40m40m40m40m40m40m40m40m40m39m39m39m39m39m39m39m39m39m39m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 10 February 2022: the filing.