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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
Capital Investment ($M)
“$500-$600”
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 Ingalls Shipbuilding, and higher volumes in Wa
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.