Huntington Ingalls Industries (HII) Q2 FY2026 earnings: revenue $3.4 billion, up 10.9% on the year

Huntington Ingalls Industries, Inc. (HII) reported revenue of $3.4 billion for Q2 FY2026, the quarter ended 30 June 2026, up 10.9% on the same quarter a year earlier. Net income was $208 million, up 36.8% on the year, and diluted earnings per share $5.27. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue

$3.4 billion

+10.9% on the year · +10.3% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

6.1%

5.3% a year earlier

Q3 FY2024Q2 FY2026

Net income

$208 million

+36.8% on the year · +39.6% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$5.27

+36.5% on the year · +39.1% on the quarter

Q3 FY2024Q2 FY2026

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

What management said

Guidance figures: 1 raised, 1 narrowed, 10 kept.

Revenue rose 10.9% on shipbuilding: Revenue was $3.4 billion, up 10.9%, driven by Newport News Shipbuilding and Ingalls Shipbuilding. Six-month revenue was $6.5 billion, up 12.1%.
Diluted EPS rose to $5.27: Net earnings were $208 million, up from $152 million. Diluted EPS was $5.27 against $3.86; six-month diluted EPS was $9.06 against $7.66.
Operating margin rose 86 basis points: Operating income was $210 million against $163 million, with operating margin of 6.1% against 5.3%. Segment operating margin was 6.6% against 5.6%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	3,418	3,099	3,082	+10.3%	+10.9%
Cost of revenue	2,987	2,691	2,687	+11.0%	+11.2%
Gross profit	431	408	395	+5.6%	+9.1%
Gross margin	12.6%	13.2%	12.8%
Operating income	210	155	163	+35.5%	+28.8%
Operating margin	6.1%	5.0%	5.3%
Interest expense	27.0	22.0	28.0	+22.7%	-3.6%
Pre-tax income	254	188	188	+35.1%	+35.1%
Income tax	46.0	39.0	36.0	+17.9%	+27.8%
Effective tax rate	18.1%	20.7%	19.1%
Net income	208	149	152	+39.6%	+36.8%
Net margin	6.1%	4.8%	4.9%
Diluted EPS	$5.27	$3.79	$3.86	+39.1%	+36.5%

$ million except per share.

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	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	-31.0	-390	823
Capital expenditure	119	74.0	93.0	+60.8%	+28.0%
Free cash flow	-150	-464	730
Free cash flow margin	-4.4%	-15.0%	23.7%
Cash from investing	-118	-71.0	-92.0
Cash from financing	-55.0	-97.0	-555
Depreciation and amortisation	79.0	76.0	83.0	+3.9%	-4.8%
Share-based compensation	10.0	21.0	9.0	-52.4%	+11.1%
Dividends paid	55.0	54.0	53.0	+1.9%	+3.8%
Dividend per share	$1.38	$1.38	$1.35	0.0%	+2.2%
Diluted shares, weighted	40m	39m	39m	+0.5%	+0.3%
Shares outstanding at period end	39m	39m	39m	+0.1%	+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	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	5,312	5,147	4,882	+3.2%	+8.8%
Debt	2,702	2,701	2,700	+0.0%	+0.1%
Operating lease liabilities	233	230	206	+1.3%	+13.1%
Other liabilities	4,435	4,455	4,310	-0.4%	+2.9%
Total liabilities and equity	12,682	12,533	12,098	+1.2%	+4.8%
Fixed assets	3,806	3,742	3,576	+1.7%	+6.4%
Goodwill	2,650	2,650	2,651	0.0%	-0.0%
Intangible assets	651	673	746	-3.3%	-12.7%
Cash and equivalents	12.0	216	343	-94.4%	-96.5%
Receivables	452	406	377	+11.3%	+19.9%
Other assets	5,111	4,846	4,405	+5.5%	+16.0%
Total assets	12,682	12,533	12,098	+1.2%	+4.8%

Questions

What was Huntington Ingalls Industries' revenue in Q2 FY2026?

Huntington Ingalls Industries (HII) reported revenue of $3.4 billion for Q2 FY2026, the quarter ended 30 June 2026, up 10.9% on the same quarter a year earlier.

How much did Huntington Ingalls Industries earn in Q2 FY2026?

Net income for Q2 FY2026 was $208 million, up 36.8% on the year, and diluted earnings per share $5.27.

When did Huntington Ingalls Industries report Q2 FY2026 results?

Huntington Ingalls Industries filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 30 July 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 30 June 2026, filed 30 July 2026: the filing.