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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 (NYSE: HII) has appointed Julie Jarrell Gresham as vice president and chief counsel of Ingalls Shipbuilding, effective March 31, 2023. She succeeds George Simmerman Jr., who is retiring after 32 years. Gresham has previously held the position of deputy chief counsel and director of compliance and privacy.
Under her leadership, she will provide legal guidance to Ingalls Shipbuilding, reporting to Chad Boudreaux, HII’s executive vice president and chief legal officer. Gresham is recognized as a top lawyer with a strong community leadership profile in Mississippi.
HII’s Newport News Shipbuilding division will host commencement exercises for the class of 2022 graduates from The Newport News Shipbuilding Apprentice School on March 18, 2023, at 10 a.m. Virginia Gov. Glenn Youngkin will deliver the keynote address. The ceremony will be open to media attendance only and will be livestreamed. The school accepts over 200 apprentices annually, providing tuition-free training in 19 trades. Apprentices can earn degrees in partnership with local colleges. For media attendance, RSVP is required by noon on March 16.
HII (NYSE: HII) announced its Newport News Shipbuilding division has received certification to supply additive manufacturing components to Naval Sea Systems (NAVSEA). This approval allows for the use of 3D printing to create pipefittings and other parts for aircraft carriers and submarines. NNS aims to leverage this technology to improve efficiency and affordability in naval engineering. Since the initial delivery of a 3D-printed part in 2019, NNS has expanded its capabilities and is pursuing broader approvals for additive manufacturing. The new certification specifically covers stainless steel (316/316L) components.
On March 3, 2023, HII hosted Chief of Naval Operations Adm. Michael Gilday at its Newport News Shipbuilding division. During his visit, Gilday met with leadership, toured the shipyard, and received updates on the progress of the Columbia and Virginia-class submarines as well as three Gerald R. Ford-class aircraft carriers: John F. Kennedy, Enterprise, and Doris Miller. The shipyard emphasized its commitment to safety, innovation, and continuous improvement in delivering high-quality naval vessels. HII employs 25,000 people at this site and is the sole builder of nuclear-powered aircraft carriers and one of two shipyards for nuclear submarines in the U.S.
HII (NYSE: HII) and Ocean Aero have entered a strategic agreement to enhance unmanned maritime platforms and autonomy software solutions. The collaboration aims to improve operational reach, duration, and sensor capabilities. Duane Fotheringham, president of HII’s Unmanned Systems division, emphasized the partnership's potential to advance U.S. Armed Forces capabilities. Both companies are engaged in various global initiatives, including recent exercises in the Arabian Gulf. HII is recognized for manufacturing the REMUS underwater vehicles, while Ocean Aero developed the TRITON, an environmentally powered vehicle for ocean data collection.
HII's Newport News Shipbuilding division has enhanced its recruitment efforts through the launch of the Ray Bagley Innovation Lab, a mobile facility dedicated to training future shipbuilders. This initiative, part of the Apprentice School, offers hands-on experience across all 19 trades offered by the school. Since 2021, the lab has served as an orientation tool for new apprentices and provides K-12 students insights into shipbuilding careers. Recently dedicated in honor of Ray Bagley, a former vice president at NNS, the lab has gained financial support from HII, Verizon, and BayPort Credit Union, ensuring a new generation is equipped for success in shipbuilding.
On February 22, 2023, HII's Newport News Shipbuilding division hosted U.S. Reps. Bobby Scott, Rob Wittman, and Jen Kiggans for a tour and meeting. NNS President Jennifer Boykin highlighted the importance of congressional support for their shipbuilders. During the tour, representatives observed construction of Columbia- and Virginia-class submarines and the Gerald R. Ford-class aircraft carrier, Enterprise (CVN 80). They discussed the significance of HII's role in national defense and the shipbuilding industry's impact on the Virginia economy, emphasizing the need for bipartisan support, stable funding, and a skilled workforce.
PASCAGOULA, Miss., Feb. 16, 2023 (GLOBE NEWSWIRE) -- HII's Ingalls Shipbuilding division hosted U.S. Rep. Mike Ezell for his first official visit. During the tour, Ezell met with leadership and observed the construction of the amphibious transport dock Richard M. McCool Jr. (LPD 29). The Ingalls Shipbuilding President emphasized the significance of their work for the Navy and Coast Guard. With over 11,000 employees, Ingalls is Mississippi's largest manufacturing employer and a major economic contributor. HII's Ingalls has a long history of providing advanced ships for national defense, underscoring its critical role in U.S. military capabilities.
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