Aug 8, 2013

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Midday Glance: Huntington Ingalls Industries Inc. (NYSE:HII) and Pepco Holdings Inc.’s (NYSE:POM)

Midday Glance: Huntington Ingalls Industries Inc. (NYSE:HII) and Pepco Holdings Inc.’s (NYSE:POM)

Huntington Ingalls Industries Inc. (NYSE:HII) reported that second-quarter earnings jumped up 14% on robust margins that compensated a modest drop in revenue. In the recent quarter, new contract awards were almost $5.3 billion, in contrast with almost $2.5 billion a year ago. Total backlog came in $20.7 billion, in contrast with $16.2 billion a year ago.

Huntington Ingalls declared a profit of $57 million, or $1.12 per share, higher as compared to $50 million, or $1 per share, a year ago. Omitting items, including pension-related adjustments, earnings were higher at $1.36, as compared to $1.24. Revenue moved down 2.2%, to $1.68 billion.

Analysts surveyed by Thomson Reuters lately predicted per-share earnings of 93 cents and revenue of $1.66 billion.

Pepco Holdings Inc. (NYSE:POM) reported that its second-quarter profit declined 32%, as the electricity provider marked superior one-time costs, while core earnings surged.

Pepco gives electricity and natural-gas service in Delaware, the District of Columbia, Maryland and New Jersey.

Pepco declared a profit of $42 million, or 17 cents per share, in contrast with a year-ago profit of $62 million, or 27 cents per share. Omitting one-time items, per-share earnings came in 22 cents, as compared to 20 cents.

Analysts polled by Thomson Reuters predicted a per-share profit of 23 cents on revenue of $1.22 billion.

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