Huntington Ingalls Industries, Inc. · NYSE:HII
Huntington Ingalls Industries — Q4 2025 Earnings Presentation
19 slides from Huntington Ingalls Industries's earnings presentation, Feb 5, 2026
Slide 1: Q4 2025 Earnings Call
Q4 2025 Earnings Call Chris Kastner President and CEO Tom Stiehle EVP and CFO February 5, 2026
Slide 2: Cautionary Statement Regarding Forward-looking Statements
Cautionary Statement Regarding Forward-looking Statements Statements in this presentation and in our other filings with the SEC, as well as other statements we may make from time to time, other than statements of historical fact, constitute "forward-looking statements" within the meaning of the Priv
Slide 3: HII Investment Thesis
Over the course of 2026 & 2027: Expect significant contract awards that establish balanced risk equation and have margins more consistent with historical norms HII Working through the majority of challenged pre-COVID contracts, INVESTMENT THESIS focused on enhancing throughput and reducing cost – To
Slide 4: 2026 Operational Initiatives Update
2026 Operational Initiatives Update Enhancing Shipbuilding Throughput Shipbuilding Key Performance Indicators » Throughput improvement target of 15% YoY » Building on ~14% improvement achieved in 2025 2025 2026 » Multiple workforce improvement initiatives Actual Target » Continue to expand new Charl
Slide 5: Shipbuilding Milestones: Deliveries Planned for 2026-2027
Shipbuilding Milestones1 5 Deliveries Planned for 2026-2027 2026 2027 Ingalls Newport News Ingalls Newport News Shipbuilding Shipbuilding Shipbuilding Shipbuilding ✓ Deliver DDG 128* » Preliminary » Deliver DDG 129 » Redeliver CVN 74 ✓ Sea Trials DDG 1000† Acceptance CVN 79 » Deliver LHA 8 » Deliver
Slide 6: HII Q4 2025 Revenue
HII Q4 2025 Revenue CONSOLIDATED REVENUE ($M) Three Months Ended December 31 ($M) 2024 2025 % Change $3,476 Ingalls $3,004 Shipbuilding 736 889 20.8% 6.1% Newport News 9.8% Shipbuilding 1,588 1,891 19.1% 3.7% Mission Technologies 713 731 2.5% Eliminations (33) (35) - Q424 Q425 Total 3,004 3,476 15.7
Slide 7: HII Q4 2025 Segment Operating Income
HII Q4 2025 Segment Operating Income1 SEGMENT OPERATING INCOME1 ($M) & MARGIN1 % Three Months Ended December 31 ($M) 2024 2025 % Change $195 Ingalls Shipbuilding 46 68 47.8% 6.1% 5.6% Newport News 9.8% $103 Shipbuilding 38 84 121.1% 3.4% Mission 3.7% Technologies 19 43 126.3% Total 103 195 89.3% Q42
Slide 8: HII 2025 Revenue
HII 2025 Revenue CONSOLIDATED REVENUE ($M) Twelve Months Ended December 31 ($M) 2024 2025 % Change $12,484 Ingalls $11,535 2,767 3,078 11.2% Shipbuilding 6.1% Newport News 9.8% Shipbuilding 5,969 6,507 9.0% 3.7% Mission Technologies 2,937 3,044 3.6% $0 $0 Eliminations (138) (145) - 2024 2025 Total 1
Slide 9: HII 2025 Segment Operating Income
HII 2025 Segment Operating Income1 SEGMENT OPERATING INCOME1 ($M) & MARGIN1 % Twelve Months Ended December 31 ($M) 2024 2025 % Change $717 Ingalls $573 Shipbuilding 211 233 10.4% 6.1% 5.7% 5.6% Newport News 9.8% Shipbuilding 246 331 34.6% 5.0% Mission 3.7% Technologies 116 153 31.9% Total 573 717 25
Slide 10: HII Q4 & FY 2025 Cash Flow & Liquidity
HII Q4 & FY 2025 Cash Flow & Liquidity CASH FLOW GENERATION ($M) $1,400 $1,196 $1,200 $1,000 $800 $800 $650 $35 $600 $516 $400 $200 $0 $52 ($200) ($134) ($400) ($396) ($600) Q425 FY25 1 Cash provided by Ops. CAPEX Free Cash Flow • Cash balance of $774 million and liquidity • Paid dividends totaling
Slide 11: HII Outlook
HII Outlook1 FY26 OUTLOOK1 HII Medium Term2 Revenue Growth of ~6% FY26 Outlook1 • Shipbuilding medium term2 revenue growth of ~6% Shipbuilding Revenue $9.7B - $9.9B • Additional upside from recently announced programs Shipbuilding Operating Margin3 5.5% - 6.5% • Mission Technologies medium term2 rev
Slide 12: Appendix
Appendix Q4 2025 EARNINGS 12
Slide 13: Non-GAAP Information
Non-GAAP Information This earnings presentation contains non-GAAP (accounting principles generally accepted in the United States of America) financial measures as defined by SEC Regulation G and indicated by a footnote in the text of this presentation. Definitions for the non-GAAP measures, and rela
Slide 14: Pension Outlook
Pension Outlook1 ($ in millions) 2025 (Actual) 2026 2027 2028 2029 2030 Pension Discount Rate 5.98% 5.72% 5.72% 5.72% 5.72% 5.72% Return on Assets4 10.7% CAS Recoveries Over/(Under) $1 ($4) ($1) ($3) ($4) ($4) Cash Contributions2,3 FAS Benefit3 $100 $123 $127 $134 $138 $148 CAS Expense3 $55 $46 $48
Slide 15: Non-GAAP Reconciliations: Segment Operating Income & Segment Operating Margin
Non-GAAP Reconciliations Segment Operating Income & Segment Operating Margin Three Months Ended Year Ended December 31 December 31 ($ in millions) 2025 2024 2025 2024 Ingalls revenues 889 736 3,078 2,767 Newport News revenues 1,891 1,588 6,507 5,969 Mission Technologies revenues 731 713 3,044 2,937
Slide 16: Non-GAAP Reconciliations: Shipbuilding Revenues & Margin
Non-GAAP Reconciliations Shipbuilding Revenues & Margin Three Months Ended Year Ended December 31 December 31 ($ in millions) 2025 2024 2025 2024 Sales and service revenues 3,476 3,004 12,484 11,535 Mission Technologies (731) (713) (3,044) (2,937) Intersegment eliminations 35 33 145 138 Shipbuilding
Slide 17: Non-GAAP Reconciliations: Free Cash Flow
Non-GAAP Reconciliations Free Cash Flow Three Months Year Ended Ended December 31 December 31 ($ in millions) 2025 2024 2025 2024 Net cash provided by operating activities 650 391 1,196 393 Less capital expenditures: Capital expenditure additions (134) (114) (402) (367) Grant proceeds for capital ex
Slide 18: Non-GAAP Reconciliations: Mission Technologies EBITDA & EBITDA Margin
Non-GAAP Reconciliations Mission Technologies EBITDA & EBITDA Margin Three Months Ended Year Ended December 31 December 31 (in millions) 2025 2024 2025 2024 Mission Technologies sales and service revenues 731 713 3,044 2,937 Mission Technologies segment operating income 43 19 153 116 Mission Technol
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