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Overview
Huntington Ingalls Industries (HII) stands as America’s largest independent military shipbuilder with a storied legacy spanning more than a century. Renowned for its robust engineering and uncompromising quality in naval construction, HII delivers advanced shipbuilding, defense systems, and military engineering solutions. The company excels in constructing both nuclear and non-nuclear vessels, seamlessly integrating traditional shipbuilding with modern digital manufacturing methods and state-of-the-art technology.
Core Business Areas and Operations
HII operates through several well-defined segments that underscore its diverse capabilities:
- Naval Shipbuilding: With its two established divisions – the Newport News Shipbuilding and Ingalls Shipbuilding yards – HII builds an extensive array of ships. Newport News focuses on nuclear-powered vessels, including aircraft carriers and submarines, and is the sole producer of key classes like the Gerald Ford-class carriers. Ingalls Shipbuilding produces a variety of non-nuclear platforms including amphibious assault ships and destroyers.
- Mission Technologies: This segment leverages HII's engineering expertise to develop advanced unmanned systems, cyber capabilities, and IT solutions. Its innovations extend to autonomous sea vessels, advanced coatings for aerospace applications, and next-generation navigation and autonomy technologies for U.S. government agencies.
- Manufacturing and Engineering Services: In addition to shipbuilding, HII provides critical manufacturing, management, and engineering services to sectors such as nuclear energy, oil, and gas. Its capacity to innovate in material sciences and advanced production techniques demonstrates a commitment to operational excellence and technological advancement.
Technological Innovation and Capabilities
Key to HII’s success is its relentless pursuit of technological innovation. The company harnesses digital design, visual work instructions on modern computing devices, and cutting-edge manufacturing techniques to improve efficiency and precision. For example, its Mission Technologies division has propelled advancements in unmanned underwater vehicles (UUVs) and autonomous navigation systems, underlining its agility in addressing diverse defense challenges.
The company also invests in specialized labs and facilities dedicated to R&D, such as advanced materials and coatings laboratories that enhance the durability and performance of aerospace and naval assets. Through these initiatives, HII consistently integrates emerging technologies like artificial intelligence (AI), machine learning, robotics, and Big Data analytics, ensuring that its solutions remain at the forefront of military and defense innovation.
Market Position and Competitive Landscape
HII holds a distinctive place in the defense and industrial manufacturing sectors. Its unmatched experience in constructing sophisticated military vessels gives it a competitive edge in a domain that demands high precision and adherence to rigorous standards. By combining heritage with innovation, HII not only supports current national security initiatives but also reinforces the U.S. Navy’s fleet capabilities through its diversified portfolio of products and services.
Strategic partnerships, long-term contracts with the U.S. government, and its ability to integrate novel technological solutions have cemented its reputation among defense contractors. While competitors exist in specialized segments such as submarine construction or unmanned systems, HII’s comprehensive expertise across multiple high-stakes domains sets it apart as a powerhouse of industrial and military engineering.
Operational Excellence and Legacy
From its inception, HII has built more ships in various classes than any other U.S. naval shipbuilder. The company’s operational excellence is underpinned by decades of experience, a proven track record in innovative ship design, and an unwavering commitment towards national defense. Its production processes leverage a blend of traditional craftsmanship and modern technological tools, ensuring high-quality outcomes even under the most demanding circumstances.
HII’s legacy is not just measured in vessels launched but also in its continuous adaptation to new challenges. Whether it is through pioneering digital construction techniques or integrating advanced materials for enhanced performance in harsh environments, HII demonstrates a level of expertise that is indispensable in today’s rapidly evolving defense landscape.
Commitment to Quality and Expertise
At its core, HII’s mission is to deliver powerful, reliable, and innovative solutions that empower U.S. national security. The company’s emphasis on quality is evident in every phase of its operations – from initial design and engineering to unparalleled manufacturing and after-market services. Its integrated approach and precision-driven processes underscore a deep commitment to excellence, making it a trusted partner in defense and industrial manufacturing.
Summary
In summary, Huntington Ingalls Industries is not just a shipbuilder but a multifaceted industrial giant that propels the U.S. Navy forward by delivering cutting-edge technological solutions and world-class engineering services. Its extensive portfolio in military shipbuilding, coupled with advanced capabilities in unmanned systems and digital transformation, embodies a legacy of innovation and steadfast commitment to national security. By continuously embracing new technologies and honing its expertise, HII remains a cornerstone of the defense industry, committed to preserving and enhancing the capabilities of America’s armed forces.
Key Industry Keywords
Shipbuilding, Defense Systems, Military Engineering.
HII's Ingalls Shipbuilding has awarded $95,600 in STEM grants to 22 local schools and educational organizations. The grants, which provide up to $5,000 per project, will support various hands-on projects, classroom technology enhancements, and STEM-focused curriculums across the Gulf Coast region.
The program attracted over 90 applications this grant cycle. Projects include coding initiatives, robotics programs, 3D printing projects, and virtual reality implementations. The next application cycle will open in August 2025 for the 2025-2026 academic year.
This initiative is part of Ingalls Shipbuilding's broader community outreach and workforce development efforts, aiming to build a foundation for future engineers, shipbuilders, and industry leaders through partnerships with local schools, community colleges, and technical institutions.
HII (NYSE: HII) reported fourth quarter 2024 revenues of $3.0 billion, down from $3.2 billion in Q4 2023, with decreases across all segments. Full-year 2024 revenues reached $11.5 billion, showing less than 1% growth over 2023. The company's Q4 diluted EPS was $3.15, compared to $6.90 in Q4 2023, while full-year EPS decreased to $13.96 from $17.07 in 2023.
Segment operating margin declined to 3.4% in Q4 2024 from 10.4% in Q4 2023, primarily due to lower performance at Newport News Shipbuilding. The company secured new contract awards worth $12.1 billion in 2024, maintaining a robust backlog of $48.7 billion. Notable achievements included the delivery of Virginia-class submarine New Jersey and amphibious transport dock Richard M. McCool Jr., while Mission Technologies secured contracts valued at over $12 billion.
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).
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