Huntington Ingalls Industries (HII) Q1 FY2026 earnings: revenue $3.1 billion, up 13.4% on the year

Huntington Ingalls Industries, Inc. (HII) reported revenue of $3.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 13.4% on the same quarter a year earlier. Net income was $149 million, unchanged on the year, and diluted earnings per share $3.79. The figures are the company's own, from the 10-Q it filed with the SEC on 5 May 2026.

Revenue

$3.1 billion

+13.4% on the year · -10.8% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

5.0%

5.9% a year earlier

Q2 FY2024Q1 FY2026

Net income

$149 million

0.0% on the year · -6.3% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$3.79

0.0% on the year · -6.2% on the quarter

Q2 FY2024Q1 FY2026

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

What management said

Guidance figures: 16 kept.

Revenue rose 13.4% to $3.1 billion: Sales and service revenues were $3,099 million, up from $2,734 million, with growth at Newport News Shipbuilding, Ingalls Shipbuilding and Mission Technologies.
Operating margin fell to 5.0%: Operating income was $155 million, down $6 million, and operating margin was 5.0%, down 89 basis points from 5.9% a year earlier.
Newport News margin fell 80 bps: Segment margin was 5.3% against 6.1%. Higher volumes drove the income increase, partly offset by Virginia-class contract adjustments and incentives recorded in Q1 2025 and lower carrier construction performance.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	3,099	3,476	2,734	-10.8%	+13.4%
Cost of revenue	2,691	3,074	2,340	-12.5%	+15.0%
Gross profit	408	402	394	+1.5%	+3.6%
Gross margin	13.2%	11.6%	14.4%
Operating income	155	172	161	-9.9%	-3.7%
Operating margin	5.0%	4.9%	5.9%
Interest expense	22.0	26.0	28.0	-15.4%	-21.4%
Pre-tax income	188	198	187	-5.1%	+0.5%
Income tax	39.0	39.0	38.0	0.0%	+2.6%
Effective tax rate	20.7%	19.7%	20.3%
Net income	149	159	149	-6.3%	0.0%
Net margin	4.8%	4.6%	5.4%
Diluted EPS	$3.79	$4.04	$3.79	-6.2%	0.0%

$ million except per share.

Fourth 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

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	-390	650	-395
Capital expenditure	74.0	134	67.0	-44.8%	+10.4%
Free cash flow	-464	516	-462
Free cash flow margin	-15.0%	14.8%	-16.9%
Cash from investing	-71.0	-134	-199
Cash from financing	-97.0	-54.0	-70.0
Depreciation and amortisation	76.0	87.0	79.0	-12.6%	-3.8%
Share-based compensation	21.0	11.0	24.0	+90.9%	-12.5%
Dividends paid	54.0	54.0	53.0	0.0%	+1.9%
Dividend per share	$1.38	$1.38	$1.35	0.0%	+2.2%
Diluted shares, weighted	39m	39m	39m	-0.3%	0.0%
Shares outstanding at period end	39m	39m	39m	+0.3%	+0.4%

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

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	5,147	5,073	4,773	+1.5%	+7.8%
Debt	2,701	2,700	3,202	+0.0%	-15.6%
Operating lease liabilities	230	223	204	+3.1%	+12.7%
Other liabilities	4,455	4,753	3,924	-6.3%	+13.5%
Total liabilities and equity	12,533	12,749	12,103	-1.7%	+3.6%
Fixed assets	3,742	3,726	3,540	+0.4%	+5.7%
Goodwill	2,650	2,650	2,651	0.0%	-0.0%
Intangible assets	673	694	757	-3.0%	-11.1%
Cash and equivalents	216	774	167	-72.1%	+29.3%
Receivables	406	339	387	+19.8%	+4.9%
Other assets	4,846	4,566	4,601	+6.1%	+5.3%
Total assets	12,533	12,749	12,103	-1.7%	+3.6%

Questions

What was Huntington Ingalls Industries' revenue in Q1 FY2026?

Huntington Ingalls Industries (HII) reported revenue of $3.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 13.4% on the same quarter a year earlier.

How much did Huntington Ingalls Industries earn in Q1 FY2026?

Net income for Q1 FY2026 was $149 million, unchanged on the year, and diluted earnings per share $3.79.

When did Huntington Ingalls Industries report Q1 FY2026 results?

Huntington Ingalls Industries filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 5 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,677	2,576	2,662	2,626	2,812	2,674	2,787	2,816	3,177	2,805	2,977	2,749	3,004	2,734	3,082	3,192	3,476	3,099	3,418	3,537
Cost of revenue	2,304	2,227	2,272	2,264	2,473	2,324	2,398	2,400	2,686	2,430	2,545	2,427	2,683	2,340	2,687	2,798	3,074	2,691	2,987	3,057
Gross profit	373	349	390	362	339	350	389	416	491	375	432	322	321	394	395	394	402	408	431	480
Gross margin	14%	14%	15%	14%	12%	13%	14%	15%	15%	13%	15%	12%	11%	14%	13%	12%	12%	13%	13%	14%
Operating income	120	138	191	131	105	141	156	172	312	154	189	82.0	110	161	163	161	172	155	210	246
Operating margin	4%	5%	7%	5%	4%	5%	6%	6%	10%	5%	6%	3%	4%	6%	5%	5%	5%	5%	6%	7%
Interest expense	26.0	26.0	26.0	27.0	23.0	24.0	24.0	22.0	25.0	21.0	24.0	23.0	27.0	28.0	28.0	23.0	26.0	22.0	27.0	26.0
Pre-tax income	147	176	222	162	159	163	169	189	332	184	216	112	131	187	188	204	198	188	254	275
Tax rate	18%	20%	20%	15%	23%	21%	23%	22%	17%	17%	20%	10%	6%	20%	19%	29%	20%	21%	18%	21%
Net income	120	140	178	138	123	129	130	148	274	153	173	101	123	149	152	145	159	149	208	217
Net margin	4%	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 flow	271	-83.0	267	-19.0	601	-9.0	82.0	335	562	-202	-9.0	213	391	-395	823	118	650	-390	-31.0	520
Capital expenditure	115	43.0	59.0	77.0	105	43.0	68.0	53.0	128	75.0	90.0	77.0	114	67.0	93.0	102	134	74.0	119	95.0
Free cash flow	156	-126	208	-96.0	496	-52.0	14.0	282	434	-277	-99.0	136	277	-462	730	16.0	516	-464	-150	425
Buybacks	14.0	10.0	17.0	14.0	11.0	9.0	7.0	21.0	38.0	62.0	65.0	35.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	48.0	47.0	47.0	48.0	50.0	49.0	50.0	50.0	51.0	51.0	51.0	52.0	52.0	53.0	53.0	53.0	54.0	54.0	55.0	54.0
Shares outstanding	40m	40m	40m	40m	40m	40m	40m	40m	40m	40m	39m	39m	39m	39m	39m	39m	39m	39m	39m	39m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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-Q for the period ended 31 March 2026, filed 5 May 2026: the filing.