Huntington Ingalls' stock rose Thursday after the parent company of Ingalls Shipbuilding in Pascagoula announced its quarterly earnings.
The company reported revenues of $1.8 billion for the quarter, up 4.8 percent compared to the same period last year and beating analyst expectations of $1.7 billion.
Earnings Per Share for the quarter are $1.98 -- up from $1.67 for the same period in 2014 -- coming in three cents below analyst expectations of $2.10.
Ingalls said the increase in operating income was primarily due in part to higher performance at its Gulf Coast operations. Revenues for the third quarter at Ingalls Shipbuilding were $593 million, increasing $34 million, or 6.1 percent over the same quarter last year. Operating income for the quarter was $77 million, a $22 million increase over last year.
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Huntington Ingalls Industries reported a backlog at the end of the quarter of $23.3 billion, of which $12.5 billion was funded.