Huntington Ingalls Industries, Inc. Q1 Profit Retreats, but beats estimates

(RTTNews) - Huntington Ingalls Industries, Inc. (HII) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $129 million, or $3.23 per share. This compares with $140 million, or $3.50 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.5% to $2.67 billion from $2.58 billion last year.

Huntington Ingalls Industries, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $129 Mln. vs. $140 Mln. last year. -EPS (Q1): $3.23 vs. $3.50 last year. -Analyst Estimates: $2.90 -Revenue (Q1): $2.67 Bln vs. $2.58 Bln last year.

-Guidance: Full year revenue guidance: $8.4 - $8.6 Bln