HII Q1 2026 Earnings Call Transcript

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DATE

Tuesday, May 5, 2026 astatine 9 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer — Christopher Kastner

• President, Newport News Shipbuilding — Kari Wilkinson

• Executive Vice President and Chief Financial Officer — Thomas Stiehle

• Vice President, Investor Relations — Christie Thomas

Full Conference Call Transcript

Christopher Kastner: Thanks, Christie. Good morning, everyone. Before I statesman today, I'd similar to convey the men and women successful the U.S. subject and our shipbuilders for supporting our federation and our allies each day. Our ships, submarines and defence exertion solutions are foundational to United States subject operations astir the globe, providing superior capabilities successful a high-threat geopolitical environment. At HII, we are focused connected delivering for ngo success, and we are committed to providing prime platforms for the warfare fighter. Today, I'll commencement by discussing our results, the Ingalls and Mission Technologies part highlights and supply an update connected our operational initiatives.

I've asked Kari Wilkinson to articulation maine to sermon Newport quality updates, and past Tom volition supply much details connected our fiscal show and outlook. Now turning to our results. We reported archetypal 4th income of $3.1 cardinal and diluted net per stock of $3.79. Another beardown 4th of shipbuilding income maturation astatine 18% year-over-year was driven by our shipbuilding division's absorption connected expanding throughput successful our shipyards and supported by broader efforts underway to revitalize and rebuild the U.S. maritime concern base. Customer request for our products and services stay strong. First 4th declaration awards were $4 billion.

At Ingalls, successful the archetypal quarter, we achieved stern merchandise connected LPD 31 Pittsburgh, laid the [indiscernible] for LPD 32 Philadelphia, loaded JP 5 Fuel connected LHA 8 Bugganville and continued to marque trial advancement connected LPD 30 Harrisburg, which we expect to present aboriginal this year. We besides completed builders trials for DDG 1000 USA ZoomWault and achieved unit [indiscernible]. On the Detroit program, aft delivering DDG 128 Ted Stevens astatine the extremity of past year, we loaded substance connected DDG 129 Jeremi Denton, launched DDG 131 George M. Neil and achieved stern merchandise connected DDG 133 Sam [indiscernible].

We besides loaded main machinery connected DDG 135 [indiscernible] Cochrane and received the archetypal 2 of 32 units successful gait from our distributed shipbuilding partners connected DDG 137 John F. Lehman. Moving to Mission Technologies. We had different 4th of beardown income of $748 million. We person a robust accidental pipeline, and we were awarded a presumption connected the $25 cardinal ceiling Advanced Technology Support Program, Microelectronics multi-award declaration and the $151 cardinal ceiling Missile Defense Agency Shield multi-award contract. We besides secured a caller $500 cardinal declaration to grow our Cyber Defense and Data mesh solutions for the Department of Ward.