Huntington Ingalls Industries (NYSE: HII) reported Q1 EPS of $4.23, $0.29 worse than the analyst estimate of $4.52. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.11 billion.

• Backlog of $45.2 billion
• Reiterates long-term financial targets provided at February 2020 Investor Day

COVID-19 Update

“As the COVID-19 pandemic unfolds, the health and safety of our employees remains paramount even as we continue our important work to support the nation’s defense,” said Mike Petters, HII president and CEO. “We are aggressively managing our response to the pandemic and have put in place a number of policies and procedures to mitigate the exposure to and spread of COVID-19 in accordance with guidelines provided by the Centers for Disease Control and Prevention (CDC) and other state and local government health agencies.” Petters continued, “We have done our best to provide employees with the resources they need to stay safe and healthy while also continuing to support our customers, suppliers and communities during this unprecedented situation.” Employee health and safety initiatives include:

• Implemented liberal leave policies that provide employees flexibility and job security
• Implemented processes aligned with CDC guidelines to work with any exposed individual on the necessary quarantine period and the process to return to work
• Adjusting policies, procedures and workspaces to support social distancing, including re-balancing shifts to reduce concurrent headcount, and the utilization of face masks
• Significantly increased workplace sanitation and deep cleaning
• Suspended all non-essential work travel
• Offering telecommute and work from home options where feasible

For earnings history and earnings-related data on Huntington Ingalls Industries (HII) click here.