U.S. Markets open in 6 hrs 17 mins

Huntington Ingalls: 1Q Earnings Snapshot

NEWPORT NEWS, Va. (AP) _ Huntington Ingalls Industries Inc. (HII) on Thursday reported first-quarter earnings of $118 million.

On a per-share basis, the Newport News, Virginia-based company said it had profit of $2.85.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.27 per share.

The shipbuilder posted revenue of $2.08 billion in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.94 billion.

Huntington Ingalls shares have climbed 17% since the beginning of the year. The stock has dropped almost 5% in the last 12 months.

_____

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