Huntington Ingalls reported Thursday better than expected second-quarter earnings, due to increased global tensions driving up demand for amphibious assault vessels, submarines, and aircraft carriers.

Virginia-based firm reported profit per share of $4.38 for the three months ended 30 June, beating analysts' expectations of $3.62. The demand for aircraft carriers and submarines is surging due to China's growing naval presence and the high level of global tensions.

According to LSEG, Huntington Ingalls - the biggest U.S. shipbuilding firm - saw a 6% increase in revenues to $2.98 Billion, compared to estimates of $2.84 Billion.

(Reporting by Pratyush Thakur in Bengalur; Editing by Shailesh Kuber) The company confirmed its annual outlook, but increased its revenue forecasts for the Mission Technologies division, which now sees it as up to $2.8 Billion, instead of the previously ranged from $2.7 to $2.75 Billion. (Reporting by Pratyush Thakur in Bengaluru; Editing by Shailesh Kuber)

(source: Reuters)