Huntington Ingalls: 1Q Earnings Snapshot

NEWPORT NEWS, Va. (AP) _ Huntington Ingalls Industries Inc. (HII) on Thursday reported first-quarter profit of $172 million.

On a per-share basis, the Newport News, Virginia-based company said it had profit of $4.23. Earnings, adjusted for non-recurring gains, came to $2.43 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.47 per share.

The shipbuilder posted revenue of $2.26 billion in the period.

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Huntington Ingalls shares have decreased 29% since the beginning of the year. The stock has dropped 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HII at https://www.zacks.com/ap/HII

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