Huntington Ingalls Raises 2026 Shipbuilding Revenue Outlook After Record Quarter

US shipbuilder Huntington Ingalls Industries raised its 2026 shipbuilding revenue forecast after reporting record third-quarter sales and a substantial increase in contract awards.

The company, known as HII, reported approximately $3.54 billion in revenue for the three months ended September 30, an increase of 10.8% from a year earlier. Net earnings were $217 million, or $5.48 per diluted share, compared with $145 million and $3.68 per share in the corresponding 2025 period.

HII said new contract awards reached $32.4 billion in the quarter, bringing the year-to-date total to $43.1 billion. Those figures represent orders awarded, not revenue already earned. The company said its contract coverage now extends across approximately 90% of anticipated shipbuilding revenue through 2030.

Management increased the 2026 shipbuilding revenue guidance range to $10.5 billion to $10.7 billion, while maintaining its shipbuilding operating-margin forecast of 6.0% to 6.5%. It also reaffirmed a full-year free cash flow outlook of $500 million to $600 million.

Newport News Shipbuilding contributed revenue growth from submarine and aircraft-carrier work. Ingalls Shipbuilding also recorded higher sales, although operating margin there declined from the prior-year quarter. The group's Mission Technologies segment reported higher operating profit.

HII's results highlight the difference between a large order backlog and delivered production: contracts support visibility, but completion schedules, labor availability, materials and execution costs will determine how much becomes recognized revenue and profit.