It's Smooth Sailing for Shareholders as Huntington Ingalls Crushes on Earnings
Ladies and gentlemen, a round of applause for Huntington Ingalls (NYSE: HII)!
On Wednesday, America's foremost naval shipbuilder reported a whopping $3.27 per share in net income under GAAP, easily cresting the $2.78-per-share target that Wall Street had set. Revenues, likewise, exceeded Wall Street's expectations, coming in at $1.86 billion -- $600 million ahead of estimates.
Investors applauded, sending Huntington Ingalls stock up 8% for the day. But was the news all it seemed to be on the surface? Let's find out.
Source: Fool.com
