Huntington Ingalls Industries — Oct 31, 2024 release

We firmly believe the actions we are taking will enable us to stabilize performance as we continue to work through these ship contracts." HII 4101 Washington Ave. • Newport News, VA 23607 www.HII.com Page 2 of 14 Exhibit 99.1 News Release HII Financial Outlook 1 • FY24 shipbuilding revenue 2 expected to be approximately $8.8B • FY24 shipbuilding operating margin 2 expected to be between 5.0% and 6.0% • Increasing FY24 Mission Technologies expected revenue range to between $2.8B and $2.85B • Increasing FY24 Mission Technologies expected operating margin 2 to approximately 3.75% • Capital expenditures expected to be approximately 3.4% of sales • FY24 free cash flow 2,3 expected to be between $0M and $100M • Withdrawing previous five-year (2024-2028) free cash flow 2 outlook Prior FY24 Outlook 1 Current FY24 Outlook 1 Shipbuilding Revenue 2 $8.8B - $9.1B ~$8.8B Shipbuilding Operating Margin 2 7.6% - 7.8% 5.0% - 6.0% Mission Technologies Revenue $2.75B - $2.8B $2.8B - $2.85B Mission Technologies Segment Operating Margin 2 3.0% - 3.5% ~3.75% Mission Technologies EBITDA Margin 2 8.0% - 8.5% 8.0% - 8.5% Operating FAS/CAS Adjustment ($63M) ($61M) Non-current State Income Tax Benefit/Expense 2,4 ~$0M ~$0M Interest Expense ($95M) ($97M) Non-operating Retirement Benefit $178M $180M Effective Tax Rate ~21% ~17% Depreciation & Amortization ~$350M ~$350M Capital Expenditures ~5.3% of Sales ~3.4% of Sales Free Cash Flow 2,3 $600M - $700M $0M - $100M 1 The financial outlook, expectations and other forward-looking stat