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Huntington Ingalls Industries, Inc. (NYSE: HII) is America's largest military shipbuilding company and a premier provider of engineering, manufacturing, and management services in sectors such as nuclear energy, oil, and gas. With a rich history spanning over a century, HII's Newport News and Ingalls Shipbuilding divisions in Virginia and Mississippi have built more ships in a diverse range of classes than any other U.S. naval shipbuilder. Headquartered in Newport News, Virginia, HII employs approximately 37,000 people, operating both domestically and internationally.
HII operates through three major segments:
- Ingalls Shipbuilding: This division focuses on the construction of non-nuclear-powered ships such as amphibious landing ships and Arleigh Burke-class destroyers.
- Newport News Shipbuilding: The only shipyard in the U.S. capable of building nuclear-powered aircraft carriers, it is also a key subcontractor for Virginia and Columbia-class nuclear submarines.
- Mission Technologies: This segment provides advanced technological solutions including uncrewed sea vessels, IT services, and a host of other specialized services to U.S. government agencies.
HII has also made significant strides in innovation and collaboration, recently hosting an industry and academic event to explore new technologies in shipbuilding. The company is actively involved in fostering innovation through partnerships with entities like 3M, Lincoln Electric, and Fastenal.
Financially, HII reported first-quarter 2024 revenues of $2.8 billion, up 4.9% from the previous year, driven by growth in the Mission Technologies segment. Operating income for the quarter was $154 million with an operating margin of 5.5%. The company has a strong backlog of approximately $48.4 billion as of March 31, 2024.
HII's commitment to technological advancement is evident in its recent strategic collaboration with Amazon Web Services (AWS) to enhance digital shipyard transformation, next-generation sea power capabilities, and warfighter training readiness. This partnership aims to leverage AI, machine learning, and cloud technologies to improve manufacturing quality and operational efficiency.
In addition to its core business, HII is heavily invested in education and community outreach. This includes sponsoring STEM expos to inspire the next generation of shipbuilders and innovators.
HII's dedication to maritime excellence and technological innovation continues to position it as a crucial player in the defense sector, ensuring the U.S. maintains a formidable naval presence globally.
HII's Ingalls Shipbuilding has opened a new virtual reality (VR) welding lab at its Pascagoula shipyard, marking a significant advancement in shipbuilder training. The facility, developed in partnership with the U.S. Navy, Accelerate Mississippi, and Mississippi Gulf Coast Community College (MGCCC), integrates VR technology into the existing welder certification curriculum.
This initiative is part of broader workforce development efforts, funded through federal and state partnerships, aimed at enhancing shipbuilding skills training. The lab's establishment follows a significant multi-year contract awarded by the U.S. Navy in August 2023 for the construction of six Flight III Arleigh Burke-class destroyers, with options for additional vessels. The contract includes funding for workforce development initiatives like virtual learning labs.
HII has announced the promotion of Derek Murphy to vice president of new construction aircraft carriers at its Newport News Shipbuilding division. In his new role, Murphy will oversee the production of three aircraft carriers: John F. Kennedy (CVN 79), Enterprise (CVN 80), and Doris Miller (CVN 81).
Murphy, who joined the company in 2002, brings significant experience from both HII shipyards and the U.S. Navy. He previously served as an aviation program manager for EA-6B and EA-18G programs, held various positions at Ingalls Shipbuilding, and most recently served as program director on John F. Kennedy (CVN 79). He is a U.S. Navy veteran with 20 years of experience as a naval flight officer for carrier-based aircraft.
HII (NYSE:HII) has announced that its Board of Directors has declared a quarterly cash dividend of $1.35 per share. The dividend will be paid on March 14, 2025, to shareholders who are on record as of the close of business on February 28, 2025.
HII's Ingalls Shipbuilding division has commenced fabrication of the San Antonio-class amphibious transport dock Philadelphia (LPD 32), marking the first 100 tons of steel cut for the ship. As the sole provider of LPD 17 San Antonio-class ships, Ingalls has already delivered LPDs 17 through 29 and currently has three Flight II LPDs under construction: Harrisburg (LPD 30), Pittsburgh (LPD 31), and Philadelphia (LPD 32).
In September 2024, the Navy awarded Ingalls a contract for three additional San Antonio Class LPD ships (LPD 33, 34, and 35). The LPD Flight II vessels will replace the Whidbey Island and Harpers Ferry classes of dock landing ships, serving as part of the Navy's 21st century expeditionary force for amphibious and crisis response operations.
HII (NYSE: HII) has secured a significant task order worth approximately $296 million through its Mission Technologies division. The five-year Consolidated Mission Support task order, awarded by the Air Force Installation Contracting Center's 764 Enterprise Sourcing Squadron, involves supporting U.S. Air Forces in Europe-Air Forces in Africa's (USAFE-AFAFRICA) global air and space operations.
The company will provide technical and analytical services for command and control, integrated air and missile defense, and intelligence, surveillance and reconnaissance (ISR). This task order expands upon HII's existing work under the Persistent Multi-Role Operations (PMRO) contract. HII's support extends across 74 countries, working with U.S. DOD commands and allied nations to strengthen national defense capabilities.
HII (NYSE: HII) has completed the acquisition of an advanced manufacturing facility in South Carolina, establishing the Newport News Shipbuilding (NNS) - Charleston Operations. The facility will support the construction of nuclear-powered submarine modules and aircraft carrier units for U.S. Navy programs. Over 99% of the existing workforce has accepted offers to continue working at the site.
The acquisition includes 480,000 square feet of manufacturing space on 45 acres, featuring state-of-the-art equipment and infrastructure. The facility offers access to barge and rail transportation, along with proximity to Charleston's growing shipbuilding ecosystem. HII plans to create hundreds of additional jobs to support increased demand and growth at the Charleston facility.
The expansion aims to increase shipbuilding capacity and throughput for national security customers, particularly supporting Navy and AUKUS requirements. The strategic location provides access to a skilled maritime trades workforce with potential for further expansion.
HII (NYSE: HII) has announced it will release its fourth quarter 2024 financial results on Thursday, February 6, 2025, followed by an earnings conference call at 9 a.m. Eastern time. The event will feature presentations from Chris Kastner, president and CEO, and Tom Stiehle, executive vice president and CFO. The conference call will be accompanied by a slide presentation and will be webcast live on the company's website. A replay of the call will be available on HII's website for a time.
HII christened the San Antonio-class amphibious transport dock Harrisburg (LPD 30) at its Ingalls Shipbuilding division. The ship, named after Pennsylvania's capital city, is the first Flight II vessel in its class and the U.S. Navy's 14th San Antonio-class amphibious transport dock ship. The vessel was co-sponsored by Alexandra Curry and Jennifer Díaz, who performed the traditional bottle-breaking ceremony.
Harrisburg will support expeditionary warfare, humanitarian assistance, and disaster relief missions. Notably, Ingalls Shipbuilding is the sole provider of LPD 17 San Antonio-class ships and has delivered LPDs 17-29. The company currently has two Flight II LPDs under construction (Harrisburg and Pittsburgh), with pre-construction activities ongoing for Philadelphia (LPD 32). In September 2024, the Navy awarded Ingalls a contract for three additional San Antonio-class amphibious ships (LPDs 33-35).
HII has announced the appointment of Jennifer Childs as the new vice president of quality and engineering at its Ingalls Shipbuilding division, effective January 6, 2025. Childs, who has 17 years of experience at Ingalls and previously served as director of technical & design engineering, will succeed Brian Blanchette, who is becoming vice president of HII and president of Ingalls Shipbuilding.
In her new role, Childs will oversee quality programs, ship design, engineering, integrated logistics support, and planning yard engineering. As the current director of technical & design engineering, she has led teams responsible for designing, constructing, and testing advanced military ships for the Navy and the Coast Guard's national security cutter program.
HII's Ingalls Shipbuilding division and the U.S. Department of Labor's Job Corps program hosted a successful two-day recruiting event that resulted in 68 job offers to students. Over 120 students from 20 states interviewed for positions in welding, electrical, and machining trades. The event began at the Mississippi Job Corps Center in Crystal Springs, followed by onboarding activities and shipyard tours at Ingalls for successful candidates.
The partnership leverages Job Corps' nationwide network of over 120 centers and 43 training pathways to develop talent pipelines for the shipbuilding industry. This collaboration aims to address the country's shipyard workforce needs while providing direct career opportunities for Job Corps students.
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