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Huntington Ingalls Industries, Inc. - HII STOCK NEWS

Welcome to our dedicated page for Huntington Ingalls Industries news (Ticker: HII), a resource for investors and traders seeking the latest updates and insights on Huntington Ingalls Industries stock.

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.

News

HII Reports Fourth Quarter and Full Year 2023 Results

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HII (NYSE:HII) reported strong financial results in the fourth quarter of 2023, with a 13% increase in revenues to $3.2 billion and a full-year record revenue of $11.5 billion, growing by 7.3% year over year. Diluted earnings per share for the quarter was $6.90, and $17.07 for the full year. Net cash provided from operations was $970 million, and free cash flow was $692 million in 2023. New contract awards in 2023 were approximately $12.5 billion, bringing total backlog to approximately $48.1 billion as of December 31, 2023.
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HII Authorizes a $600 Million Increase in its Share Repurchase Program to $3.8 Billion

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HII (NYSE: HII) has announced an increase in its share repurchase program from $3.2 billion to $3.8 billion, extending the term from Oct. 31, 2024, to Dec. 31, 2028. This decision reflects the company's confidence in its free cash flow generation and commitment to returning free cash flow to shareholders. The program allows for share purchases at the discretion of management, subject to market conditions, and may be suspended or discontinued at any time.
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HII is Awarded Advanced Planning Contract for USS Harry S. Truman (CVN 75) RCOH

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HII (NYSE: HII) announced a $913 million advanced planning contract for the refueling and complex overhaul of the nuclear-powered aircraft carrier USS Harry S. Truman. The contract covers engineering, design, material procurement, and documentation, aiming to ensure the success of the project. The ship, christened in 1996, will be the eighth Nimitz-class carrier to undergo RCOH, representing 35% of all maintenance and modernization during its 50-year service life.
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HII to Hold Investor Day

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HII (NYSE: HII) will host its Investor Day on March 20, 2024, featuring presentations on the company’s strategy and financial outlook, with Chris Kastner, president and CEO, and Tom Stiehle, executive vice president and chief financial officer. The event will be held at the New York Stock Exchange, starting at 9 a.m. EST. Limited in-person attendance is by invitation only, but the live webcast can be accessed from HII’s Investor Relations site, with a replay available afterward.
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HII Hosts Assistant Secretary of the Navy at Newport News Shipbuilding

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HII hosted Assistant Secretary of the Navy for Research, Development and Acquisition Nickolas Guertin at its Newport News Shipbuilding division. The visit focused on updates on major programs, investments in new facilities, advancements in workforce development, and digital technologies to improve operational efficiency. Guertin saw construction progress on aircraft carriers and toured facilities for submarine construction. NNS is the nation’s sole designer, builder, and refueler of nuclear-powered aircraft carriers and one of only two shipyards capable of designing and building nuclear-powered submarines for the U.S. Navy.
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HII Hosts United Kingdom Minister at Newport News Shipbuilding

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HII hosted UK Minister of State Anne-Marie Trevelyan at its Newport News Shipbuilding division in support of the AUKUS partnership. The visit showcased HII's role in constructing submarines and workforce development expertise. The UK, US, and Australia aim to support security and stability in the Indo-Pacific region through AUKUS.
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HII’s Ingalls Shipbuilding Awards $100,000 in STEM Grants

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HII's Ingalls Shipbuilding division awarded $100,000 in grants to 24 STEM-related initiatives from schools and educational organizations in Mississippi and Alabama. The awards support science, technology, engineering, and math education. Ingalls has awarded over $1.1 million in the past decade for teacher training and projects. The funds will go towards STEM-related equipment and projects, with the next application cycle opening in August 2024. HII is committed to shaping the future of engineering, science, and technology through investments in STEM education programs.
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HII Awarded $197 Million Contract to Support Joint Force Readiness

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HII (NYSE: HII) announced a $197 million recompete task order contract for research and development of the Joint Training Synthetic Environment (JTSE) to enable joint force readiness. The five-year term contract will be conducted by HII's Mission Technologies division, supporting combatant commands, military branches, federal agencies, academia, industry, and multi-national partners. The company aims to develop a high-fidelity training capability to support the future fight.
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Michael Lempke to Lead HII’s Australia Business

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HII's Mission Technologies division announced that Michael Lempke will lead HII Australia business efforts, effective Jan. 1, 2024. Lempke will direct HII's business in-country and specifically in support of the AUKUS trilateral partnership. He also serves as president of Mission Technologies' Nuclear and Environmental Services business group, leading HII's work maintaining a nuclear stewardship culture for the U.S. Department of Energy. This follows strategic partnerships announced in 2023, including collaborations with Babcock International Group and Bechtel Australia to support critical capability requirements for the AUKUS nuclear submarine program.
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HII Names Peter Courtney as Corporate Vice President of Legislative Affairs

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Huntington Ingalls Industries (HII) (NYSE: HII) announced the promotion of Peter Courtney to corporate vice president of legislative affairs and the hiring of Betsy Bina Benedict as the director of legislative affairs. Courtney, a former U.S. Navy officer, will be responsible for lobbying strategy and implementation, while Benedict, a former House Appropriations Committee clerk, will report to Courtney. The company aims to strengthen its legislative relationships to provide long-term stability to its divisions and communities.
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FAQ

What is the current stock price of Huntington Ingalls Industries (HII)?

The current stock price of Huntington Ingalls Industries (HII) is $198.95 as of November 22, 2024.

What is the market cap of Huntington Ingalls Industries (HII)?

The market cap of Huntington Ingalls Industries (HII) is approximately 7.7B.

What does Huntington Ingalls Industries, Inc. (HII) specialize in?

HII specializes in military shipbuilding and provides engineering, manufacturing, and management services in nuclear energy, oil, and gas sectors.

What are the main divisions of HII?

HII operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Mission Technologies.

Where is Huntington Ingalls Industries headquartered?

HII is headquartered in Newport News, Virginia.

How many employees does HII have?

HII employs approximately 37,000 people.

What recent partnerships has HII announced?

HII has announced a strategic collaboration with Amazon Web Services (AWS) to enhance digital shipyard transformation and next-generation sea power capabilities.

What is the latest financial performance of HII?

For the first quarter of 2024, HII reported revenues of $2.8 billion, up 4.9% from the first quarter of 2023, with an operating income of $154 million.

What innovations is HII focusing on?

HII is focusing on innovations in technology to improve shipyard operations, including partnerships with industry leaders like 3M and Lincoln Electric.

What types of ships does HII's Newport News Shipbuilding division produce?

The Newport News Shipbuilding division produces nuclear-powered aircraft carriers and is a key subcontractor for Virginia and Columbia-class nuclear submarines.

Does HII have any educational initiatives?

Yes, HII sponsors STEM expos to inspire future generations of shipbuilders and innovators.

How does HII contribute to the defense sector?

As the largest military shipbuilder in the U.S., HII provides critical capabilities from ships to unmanned systems, ensuring a strong naval presence globally.

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Huntington Ingalls Industries, Inc.

NYSE:HII

HII Rankings

#1030 Ranked by Market Cap
#1124 Ranked by Dividends

HII Stock Data

7.66B
38.85M
0.62%
94.52%
2.14%
Aerospace & Defense
Ship & Boat Building & Repairing
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