Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Submarine awards stacked up years of contracted work
Backlog rose to $86.2B from $53.1B since December, so how fast the yards can build now sets the pace of revenue.
For investorsCan the wider margin hold once the re-estimates fade?
For foundersSelling to a single buyer without carrying all the risk
Operating income rose 52.8% on revenue up 10.8%, led by the nuclear yard's Virginia class adjustments and incentives.
Free cash flow of $425M followed two negative quarters, so any single quarter's cash says little about the year.
Nearly all revenue comes from incentive or cost-type contracts, which trade a thin margin for protection on multi-year builds.
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Business Lens describes Huntington Ingalls Industries from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
