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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.
Huntington Ingalls Industries (HII) reported third-quarter 2021 revenues of $2.3 billion, a 1% increase year-over-year. Operating income fell to $118 million with an operating margin of 5.0%, down from 9.6% in Q3 2020. Net earnings decreased to $147 million and diluted EPS was $3.65, compared to $5.45 a year earlier. The acquisition of Alion Science and Technology closed on Aug. 19, contributing approximately $163 million in revenue. New contract awards totaled $600 million, raising total backlog to $50.1 billion.
Huntington Ingalls Industries (NYSE:HII) has announced a quarterly cash dividend of $1.18 per share, reflecting a $0.04 increase from the previous dividend of $1.14. The dividend will be paid on December 10, 2021, to shareholders of record as of the close of business on November 26, 2021.
As the largest military shipbuilding company in America, HII continues to demonstrate its commitment to returning value to shareholders while maintaining its leadership in national security solutions.
On October 28, 2021, Huntington Ingalls Industries CEO Mike Petters addressed 1,000 U.S. Coast Guard Academy cadets at the Admiral Thomas Wetmore Annual Ethics Forum. He emphasized the importance of leadership by example and motivating teams to excel beyond mere compliance. Petters inspired cadets to cultivate ethical habits and understand the impact of their actions. Huntington Ingalls, a leading military shipbuilding company, is responsible for building advanced national security cutters for the U.S. Coast Guard, enhancing maritime capabilities for national security and law enforcement.
Huntington Ingalls Industries (NYSE: HII) successfully completed the first round of sea trials for the San Antonio-class amphibious transport dock Fort Lauderdale (LPD 28). This achievement is a collaborative effort between Ingalls Shipbuilding and the Navy, with an emphasis on teamwork. The Fort Lauderdale is part of the Navy’s modern amphibious assault fleet. Ingalls has delivered 11 San Antonio-class ships and has three, including LPD 28, currently under construction. The contract for LPD 31 worth $1.5 billion was secured in 2020.
Huntington Ingalls Industries (NYSE: HII) celebrated the achievements of 12 employees at the 26th annual Women of Color STEM Conference held virtually from October 7-9, 2021. Among the honorees, three employees received Technology All-Star awards for significant accomplishments in their careers, while seven were recognized as Technology Rising Stars. Additionally, Lakela Lofton earned the Managerial Leadership Award, and Stacia Cooper received the Top Women in Finance Award, highlighting HII's commitment to diversity and excellence in leadership across various sectors.
Huntington Ingalls Industries (NYSE:HII) is set to release its third quarter 2021 financial results on November 4, 2021, at 9 a.m. Eastern Time. The earnings conference call will be accessible via a live webcast on the company’s website. Key executives including CEO Mike Petters and CFO Tom Stiehle will present and discuss the results. Established as the largest military shipbuilding company in America, HII has significant operations in Virginia and Mississippi, employing approximately 44,000 individuals globally. For further details, visit HII’s website.
Huntington Ingalls Industries (NYSE: HII) has successfully completed the final round of sea trials for the Frank E. Petersen Jr. (DDG 121), an Arleigh Burke-class guided missile destroyer at its Ingalls Shipbuilding division. The trials mark a significant milestone ahead of delivery, showcasing the company’s collaboration and dedication. With a rich history, HII has delivered 32 destroyers and currently has four under construction. The Arleigh Burke-class ships support U.S. military strategy through versatile operations.
Huntington Ingalls Industries (NYSE: HII) has awarded 100 new scholarships and renewed 108 scholarships through its HII Scholarship Fund for the 2021-2022 academic year, totaling over $2 million since its inception. The scholarships benefit dependent children of HII employees pursuing post-secondary education or quality pre-kindergarten programs. Award amounts range from $1,500 to $3,000, and the fund reflects HII's commitment to workforce development. Notably, CEO Mike Petters continues to decline most of his salary to support the initiative.
Huntington Ingalls Industries (NYSE: HII) has appointed Stewart Holmes as executive vice president for government and customer relations, replacing Mitch Waldman, who retires on Sept. 30. Holmes, formerly senior vice president at Textron, brings extensive government relations and defense experience. He will lead HII’s engagement with government entities and ensure continued delivery of solutions to defense challenges. HII is America’s largest military shipbuilder, employing around 44,000 people and aiming to maintain its strategic position in the defense and naval industry.
Huntington Ingalls Industries (NYSE:HII) appointed Chris Soong as the chief information officer for its Technical Solutions division, effective immediately. Soong will oversee all aspects of IT to align with the division's strategic goals and enhance cybersecurity measures. His extensive experience includes leadership roles at Fortune 500 companies and a prior CIO role at Alion Science and Technology. This appointment aims to strengthen HII's technological capabilities as it pursues new business opportunities, supporting the mission of national security.
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