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.
HII (NYSE:HII) will announce its second quarter 2022 financial results on Aug. 4, 2022, at 9 a.m. Eastern time. The earnings call will be hosted by President and CEO Chris Kastner and CFO Tom Stiehle, and will be available via webcast on the company’s website. With a workforce of 44,000, HII is recognized as America's largest shipbuilder and delivers critical capabilities in defense technologies. The company has a 135-year history in supporting U.S. national security and focuses on all-domain operations. For more information, visit HII's website.
HII (NYSE: HII) announced plans to hire over 2,000 full-time shipbuilders at its Ingalls Shipbuilding division, contributing to national security efforts. The skilled workforce will work on building amphibious warships, destroyers, and national security cutters. A hiring event is scheduled for July 9, 2022, offering various positions with competitive wages and benefits. The Ingalls facility has undergone recent upgrades to improve worker conditions, including enhanced amenities. HII, recognized as America’s largest shipbuilder, has a 135-year legacy in defense technologies.
HII (NYSE: HII) announces the dedication of its 19th house built with Habitat for Humanity since 2002. The event, held on June 17, 2022, in Newport News, welcomed Mickeia Hunter and her children to their new home. Over 100 shipbuilders contributed 600 volunteer hours for this three-bedroom, 1,200-square-foot house, located on land donated by the Newport News Redevelopment and Housing Authority. The Hunter family will repay a no-interest mortgage, aiding future housing projects for other families.
HII (NYSE:HII) announced a $240 million advance procurement contract from the U.S. Navy for long-lead-time materials and advance construction for amphibious transport dock LPD 32. This marks the 16th ship in the San Antonio-class built at Ingalls Shipbuilding. The funds will support nearly 400 suppliers across 30 states. LPD 32 is part of the Flight II series, designed to replace the older dock landing ships. HII has successfully delivered 12 San Antonio-class ships, with two currently under construction.
HII (NYSE:HII) has successfully demonstrated capabilities for its amphibious warships to launch, operate, and recover large-diameter unmanned underwater vehicles (LDUUV), marking a significant advancement in mission-critical technology. This initiative, part of HII’s internal research and development efforts, showcases the collaboration between HII's Ingalls Shipbuilding and Mission Technologies divisions. The demonstration involved the prototype platform Pharos, enhancing operational flexibility for the U.S. Navy's national security strategies.
HII (NYSE: HII) announced the christening of the Richard M. McCool Jr. amphibious transport dock (LPD 29) in Pascagoula, Mississippi, on June 11, 2022. This vessel honors U.S. Navy Captain Richard M. McCool Jr., a Medal of Honor recipient. The christening ceremony included remarks from Ingalls Shipbuilding President Kari Wilkinson and Under Secretary of the Navy Erik Raven, emphasizing the ship's role in supporting U.S. naval capabilities. The ship, co-sponsored by McCool's granddaughters, is part of HII's commitment to national security and maritime defense.
HII (NYSE: HII) announces the appointment of Jeff Jackson as senior director of talent development in its Mission Technologies division. Reporting to Melanie Anderson, he will enhance talent strategies focused on leadership development, employee engagement, and diversity initiatives. This role aims to align human capital with the strategic objectives of the division, especially following recent acquisitions that enriched HII’s technical expertise. Jackson brings extensive experience from the defense sector and will contribute significantly to shaping the company's culture.
PASCAGOULA, Miss., June 4, 2022 – HII (NYSE: HII) christened the Calhoun (WMSL 759), a Legend-class national security cutter at Ingalls Shipbuilding. Named after Charles L. Calhoun, the first master chief petty officer of the U.S. Coast Guard, this vessel honors his legacy. The ship's christening, marked by the breaking of a wine bottle by his granddaughter, Christina Calhoun Zubowicz, signifies a strong partnership with the U.S. Coast Guard. The Calhoun is the 10th national security cutter, with nine previously delivered and two under construction, expected to enhance national security and operational capabilities.
HII (NYSE:HII) has announced Brandi Smith as the new vice president of the Columbia-class program at Newport News Shipbuilding, effective June 1. She succeeds Charles Southall, who retires after over 35 years. The Columbia-class is the U.S. Navy's top acquisition priority, set to replace the Ohio-class submarines. Smith, who joined HII in 2002, brings extensive experience from various roles within the company, including director of the Columbia-class construction program. HII remains America’s largest shipbuilder, with a workforce of 44,000.
FAQ
What is the current stock price of Huntington Ingalls Industries (HII)?
What is the market cap of Huntington Ingalls Industries (HII)?
What does Huntington Ingalls Industries, Inc. (HII) specialize in?
What are the main divisions of HII?
Where is Huntington Ingalls Industries headquartered?
How many employees does HII have?
What recent partnerships has HII announced?
What is the latest financial performance of HII?
What innovations is HII focusing on?
What types of ships does HII's Newport News Shipbuilding division produce?
Does HII have any educational initiatives?
How does HII contribute to the defense sector?
