Huntington Ingalls Industries, Inc. · NYSE:HII
Huntington Ingalls Industries — Q1 2013 Earnings Presentation
11 slides from Huntington Ingalls Industries's earnings presentation, May 8, 2013
Slide 1: Q1 2013 Earnings Presentation
Q1 2013 Earnings Presentation May 8, 2013 Mike Petters President and Chief Executive Officer Barb Niland Corporate Vice President, Business Management & Chief Financial Officer Exhibit 99.2
Slide 2: Safe Harbor
Statements in this presentation, other than statements of historical fact, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause our actual results to differ mate
Slide 3: Highlights from the First Quarter
* Adjusted for the FAS/CAS Adjustment. See Appendix for reconciliation to the comparable GAAP figures. Highlights from the First Quarter 3 Revenues were $1.6 billion for the quarter Total operating margin was 6.1%, up 98 bps over prior year Pension-adjusted operating margin* was 7.6%, up from
Slide 4: First Quarter 2013 Consolidated Results
$0.67 $0.87 $0.89 $1.17 $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 Q1 2012 Q1 2013 Diluted EPS GAAP Pension-adjusted* 5.1% 6.1% 6.2% 7.6% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% Q1 2012 Q1 2013 Operating Margin GAAP Pension-adjusted* $80 $95 $97 $118 $- $20 $40 $60 $80 $100 $120 $140 Q1 2012
Slide 5: Ingalls Shipbuilding
2.9% 4.1% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% Q1 2012 Q1 2013 Operating Margin $20 $26 $- $5 $10 $15 $20 $25 $30 Q1 2012 Q1 2013 ($ in mi lli o ns ) Operating Income $692 $ 631 $300 $350 $400 $450 $500 $550 $600 $650 $700 $750 Q1 2012 Q1 2013 ($ in mi lli o ns ) Segment Revenues Ingall
Slide 6: Newport News Shipbuilding
9.1% 9.9% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 10.5% Q1 2012 Q1 2013 Operating Margin $81 $94 $70 $75 $80 $85 $90 $95 Q1 2012 Q1 2013 ($ in mi lli o ns ) Operating Income $895 $ 950 $860 $870 $880 $890 $900 $910 $920 $930 $940 $950 $960 Q1 2012 Q1 2013 ($ in mi lli o ns ) Segment Revenues Newport New
Slide 7: 2013 Retirement Related Assumptions
2013 Retirement Related Assumptions 7 ($ in millions) 2013 2012 1Q13 Guidance 4Q12 Guidance Actual Pension Discount Rate 4.27%1 4.24% 5.23% Expected Return on Assets 7.50% 7.50% 8.00% Qualified Pension Contributions $301 $270 - $330 $236 Cash Contributions, Net of CAS Recovery2 $150 $110-$185 $122 N
Slide 8: Appendix
U n sa ve d Docum e n t / 1 2 /2 9 /1 0 / 1 0 :0 2 Appendix
Slide 9: Reconciliations
Reconciliations 9 We make reference to “segment operating income,” “segment operating margin,” “pension-adjusted operating income,” “pension- adjusted operating margin,” “pension-adjusted net earnings,” and “pension-adjusted diluted earnings per share.” Segment operating income is operating income b
Slide 10: Reconciliation of Non-GAAP Measures – Segment Operating Income and Segment Operating Margin
Reconciliation of Non-GAAP Measures – Segment Operating Income and Segment Operating Margin 10 Three Months Ended March 31 $ in millions 2013 2012 Sales and Service Revenues Ingalls 631$ 692$ Newport News 950 895 Intersegment eliminations (19) (19) Total Sales and Service Revenues 1,562 1,568 Operat
Slide 11: Reconciliation of Non-GAAP Measures – Pension Adjusted Figures
Reconciliation of Non-GAAP Measures – Pension Adjusted Figures 11 Three Months Ended March 31 (In millions, except per share amounts) 2013 2012 $ Change % Change Revenues 1,562$ 1,568$ (6)$ (0.4% ) Segment operating income1 120 101 19 18.8% Segment operating margin % 7.7% 6.4% 124 bps Total operatin
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