Huntington Ingalls says it has vaccinated one-third of workforce

Huntington Ingalls Industries executives said today the company is seeing the lowest COVID-19 case rates and lowest quarantine volumes since last summer, driven by a growing vaccination rate.

During a call with analysts today, Mike Petters, Huntington Ingalls' chief executive, said the contractor is now seeing stabilized employment and scheduling after suffering low attendance earlier in the pandemic.

"We're seeing a pretty steady rhythm now," he said. "I feel really good about where we are right now."

Petters said the company has administered the COVID-19 vaccine to about one-third of its employees, while others are getting the vaccine outside of work.

"That's just driving our case rates down pretty dramatically," he said.

Meanwhile, HII said today sales in its most recent quarter totaled $2.3 billion, essentially flat from the same three-month period the prior year.

The company reported quarterly profit of $148 million, down 14% from a year earlier.

HII said it saw a decline in its technical solutions sales after divesting its oil and gas business and the San Diego shipyard. However, the company said the unit recorded $7 million in quarterly profit, up from a $7 million loss the prior year. HII said the business saw improved performance in its defense and federal solutions and nuclear and environmental services units.