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, re