Nuclear Security & Deterrence Monitor Vol. 25 No. 32
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Nuclear Security & Deterrence Monitor
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August 13, 2021

Huntington Ingalls’ Second-Quarter Earnings Bounce Back

By Wayne Barber

Earnings rose at Huntington Ingalls Industries, Newport News, Va., in the 2nd quarter, which the shipbuilder and Department of Energy contractor attributed in part to COVID-19’s effects last year on the Virginia-class attack submarine program.

Net earnings for the second quarter ended June 30 were $129 million, compared with $53 million in the second quarter of 2020. Diluted earnings in the second quarter were $3.20 a share, up from $1.30 in the year-ago quarter, according to the company’s latest earnings press release.

Quarterly revenue was $2.2 billion, up year-over-year from $2 billion.

The quarterly operating income for Technical Solutions, the segment responsible for joint ventures doing business for the National Nuclear Security Administration (NNSA) and DOE’s Office of Environmental Management, was $13 million, compared with $9 million in the second quarter of 2020. Revenue for Technical Solutions was $237 million, down from $320 million, due to the divestiture of the company’s oil and gas business.

Huntington Ingalls is an integrated subcontractor within Triad National Security, which has the 10-year potential $20-billion laboratory management contract for Los Alamos’ nuclear weapons programs. The company is also a junior partner on Savannah River Nuclear Solutions, the Fluor-led incumbent on the Savannah River Site management and operations contract. The NNSA passes money for tritium reservoir refills and construction of a new plutonium pit factory through the management and operations contract.

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NEW: Via public records request, I’ve been able to confirm reporting today that a warrant has been issued for DOE deputy asst. secretary of spent fuel and waste disposition Sam Brinton for another luggage theft, this time at Las Vegas’s Harry Reid airport. (cc: @EMPublications)

DOE spent fuel lead Brinton accused of second luggage theft.



by @BenjaminSWeiss, confirming today's reports with warrant from Las Vegas Metro PD.

Waste has been Emplaced! 🚮

We have finally begun emplacing defense-related transuranic (TRU) waste in Panel 8 of #WIPP.

Read more about the waste emplacement here: https://wipp.energy.gov/wipp_news_20221123-2.asp

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