Huntington Ingalls Industries — Oct 31, 2024 release

• 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 statements provided by the company for 2024 and beyond reflect the company's judgment based on the information available at the time of this release. 2 Non-GAAP measures. See Exhibit B for definitions. In reliance upon Item 10(e)(1)(i)(B) of Regulation S-K, reconciliations of forward–looking GAAP and non–GAAP measures are not provided because of the unreasonable effort associated with providing such reconciliations due to the variability in the occurrence and the amounts of certain components of GAAP and non-GAAP measures. For the same reasons, we are unable to address the significance of the unavailable information, which could be material to future results. 3 Outlook is based on current tax law and assumes the provisions requiring capitalization of R&D expenditures for tax purposes are not deferred or repealed. 4 Outlook is based on current tax law. Repeal or deferral of provisions requiring capitalization of R&D expenditures would result in elevated non-current state income tax expense. HII 4101 Washington Ave. • Newport News, VA 23607 www.HII.com Page 3 of 14 Results of