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Huntington Ingalls Industries — Feb 5, 2026 release

Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001501585-26-000004
Open on SEC.gov ↗
Showing in the filing
Outsourcing YoY (Earned hours)
“+30%”
Period
FY2026
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 67
Top line CAGR for FY2026
“~6%”
Enterprise revenue for FY2030
“$16B+”
Throughput improvement target for FY2026
“15% YoY”
Throughput YoY (Earned hours) for FY2026
“+15%”
Outsourcing YoY (Earned hours) for FY2026
“+30%”
Capital Investment ($M) for FY2026
“$500-$600”
Mission Technologies medium term revenue gro…
“~5%”
Mission Technologies Segment Operating Margin for FY2026
“~5%”
Mission Technologies EBITDA Margin for FY2026
“8.4% - 8.6%”
Operating FAS/CAS Adjustment for FY2026
“($44M)”
Non-current State Income Tax Expense for FY2026
“~($20M)”
Interest Expense for FY2026
“($105M)”
Non-operating Retirement Benefit for FY2026
“$213M”
Effective Tax Rate for FY2026
“~17%”
Depreciation & Amortization for FY2026
“~$330M”
Capital Expenditures for FY2026
“4%-5% of Sales”
Free Cash Flow for FY2026
“$500M - $600M”
Pension and Postretirement Benefits Cash Con… for FY2026
“$50”
Shipbuilding medium term revenue growth
“~6%”
Shipbuilding Revenue for FY2026
“$9.7B to $9.9B”
Shipbuilding operating margin for FY2026
“5.5% to 6.5%”
Mission Technologies Revenue for FY2026
“$3.0B to $3.2B”
Shipbuilding revenue for Q1 FY2026
“~$2.3B”
Shipbuilding operating margin for Q1 FY2026
“~5.5%”
Mission Technologies revenue for Q1 FY2026
“$700M to $750M”
Mission Technologies operating margin for Q1 FY2026
“4.0% to 4.5%”
Free cash flow for Q1 FY2026
“($600M)”
Pension Discount Rate for FY2030
“5.72%”
Pension Discount Rate for FY2029
“5.72%”
Pension Discount Rate for FY2028
“5.72%”
Pension Discount Rate for FY2027
“5.72%”
Pension Discount Rate for FY2026
“5.72%”
CAS Recoveries Over/(Under) Cash Contributions for FY2030
“($4)”
CAS Recoveries Over/(Under) Cash Contributions for FY2029
“($4)”
CAS Recoveries Over/(Under) Cash Contributions for FY2026
“($4)”
CAS Recoveries Over/(Under) Cash Contributions for FY2027
“($1)”
CAS Recoveries Over/(Under) Cash Contributions for FY2028
“($3)”
FAS Benefit for FY2026
“$123”
FAS Benefit for FY2027
“$127”
FAS Benefit for FY2028
“$134”
FAS Benefit for FY2029
“$138”
FAS Benefit for FY2030
“$148”
CAS Expense for FY2026
“$46”
CAS Expense for FY2027
“$48”
CAS Expense for FY2028
“$44”
CAS Expense for FY2029
“$40”
CAS Expense for FY2030
“$39”
FAS/CAS Adjustment for FY2026
“$169”
FAS/CAS Adjustment for FY2027
“$175”
FAS/CAS Adjustment for FY2028
“$178”
FAS/CAS Adjustment for FY2029
“$179”
FAS/CAS Adjustment for FY2030
“$187”
Operating FAS/CAS Adjustment for FY2027
“($39)”
Operating FAS/CAS Adjustment for FY2029
“($42)”
Operating FAS/CAS Adjustment for FY2030
“($41)”
Operating FAS/CAS Adjustment for FY2028
“($41)”
Non-Operating Retirement (Expense)/Income for FY2026
“$213”
Non-Operating Retirement (Expense)/Income for FY2027
“$214”
Non-Operating Retirement (Expense)/Income for FY2028
“$219”
Non-Operating Retirement (Expense)/Income for FY2029
“$220”
Non-Operating Retirement (Expense)/Income for FY2030
“$228”
Pension and Postretirement Benefits Cash Con… for FY2027
“$49”
Pension and Postretirement Benefits Cash Con… for FY2028
“$47”
Pension and Postretirement Benefits Cash Con… for FY2029
“$44”
Pension and Postretirement Benefits Cash Con… for FY2030
“$43”
Projected cash contributions for FY2026
“$50 million”
Postretirement benefits contributions for FY2026
“$35 million”
Exhibit 99.1 · the passage around this item
… earlier in the release
  Q4 2025 EARNINGS Enhancing Shipbuilding Throughput » Throughput improvement target of 15% YoY » Building on ~14% improvement achieved in 2025 » Multiple workforce improvement initiatives » Continue to expand new Charleston facility » Utilize contract labor to address critical gaps Rapidly Growing Trusted Industrial Base Network » Building on significant momentum » Doubled outsourced hours in 2025 » Continue to rapidly grow outsourced hours in 2026 New Contract Awards » Ensuring contract awards reflect current operating environment 2026 Operational Initiatives Update 4 Shipbuilding Key Performance Indicators 1 Total shipbuilding earned progress hours 2 Outsourced hours are included in overall throughput earned hours 3 Total HII annual capital expenditures, net of grants 2025 Actual 2026 Target Throughput YoY (Earned hours)1 +14% +15% Outsourcing YoY (Earned hours)2 +100% +30% Capital Investment ($M)3 $396 $500-$600   Q4 2025 EARNINGS Shipbuilding Milestones1 5 2026 2027 Ingalls Shipbuilding ✓ Deliver DDG 128* ✓ Sea Trials DDG 1000† » Launch DDG 131 » Deliver LPD 30 Newport News Shipbuilding » Preliminary Acceptance CVN 79 » Lay Keel CVN 81 » Redeliver SSN 796 » Deliver SSN 800 Ingalls Shipbuilding » Deliver DDG 129 » Deliver LHA 8 » Launch LPD 31 Newport News Shipbuilding » Redeliver CVN 74 » Deliver CVN 79 1 All future milestones are based upon current expectations and subject to change based upon future events. List is alphabetical by program designation. *Achieved in December 2025. † 2025 milestone achieved in early 2026. 5 Deliveries Planned for 2026-2027   Q4 2025 EARNINGS HII Q4 2025 Revenue 6.1% 9.8% 3.7% CONSOLIDATED REVENUE ($M) Three Months Ended December 31 ($M) 2024 2025 % Change Ingalls Shipbuilding 736 889 20.8% Newport News Shipbuilding 1,588 1,891 19.1% Mission Technologies 713 731 2.5% Eliminations (33) (35) - Total 3,004 3,476 15.7% YoY growth driven by higher volumes in submarines and aircraft carriers at Newport News Shipbuilding, higher volumes in amphibious assault ships and surface combatants at Ingall
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.