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.
Huntington Ingalls Industries’ Ingalls Shipbuilding division successfully completed builder’s trials for the guided missile destroyer Frank E. Petersen Jr. (DDG 121) in the Gulf of Mexico. Over three days, the destroyer tested its combat systems, including missile firing, paving the way for a final trial before delivery. The project involves collaboration with the Navy and combat system managers. Currently, Ingalls has delivered 32 destroyers to the Navy, with four more under construction. DDG 121 honors U.S. Marine Corps' first African American aviator.
Huntington Ingalls Industries (NYSE: HII) has announced new business groups and executive roles within its Technical Solutions division following its acquisition of Alion Science and Technology. The new groups include Intelligence, Surveillance and Reconnaissance (ISR), Live, Virtual and Constructive (LVC) Solutions, Cyber and Electronic Warfare (EW), and Fleet Sustainment. Key executive appointments have also been made to enhance leadership in technology, growth strategy, and customer solutions. HII operates as America’s largest military shipbuilding company, with approximately 44,000 employees.
Huntington Ingalls Industries (NYSE: HII) has appointed Brooke Hart as executive vice president of communications, effective Sept. 27. Hart will succeed Jerri Dickseski, who retires after nearly 31 years with the company. Hart brings extensive communications experience, previously serving as vice president of communications at Sierra Nevada Corporation. She will oversee HII’s communications strategy, including external communications, media relations, and branding. HII is the largest military shipbuilding company in the U.S., employing around 44,000 people.
Huntington Ingalls Industries (NYSE: HII) announced that Danny Hernandez will take over as corporate director of public affairs following Beci Brenton's retirement on Oct. 31. Hernandez, starting on Sept. 13, will manage media communications and public affairs strategies for HII, leveraging his nearly 30 years of experience in military communications. Brenton, who served since 2011, is credited with significantly shaping HII's corporate communication efforts. Hernandez’s prior roles include director of communications for the U.S. Navy, enhancing HII's strategic communications.
On August 21, 2021, Huntington Ingalls Industries (NYSE: HII) celebrated the christening of the amphibious transport dock Fort Lauderdale (LPD 28) at its Ingalls Shipbuilding division in Pascagoula, Mississippi. The event was livestreamed due to COVID-19 restrictions. Ingalls Shipbuilding President Kari Wilkinson emphasized teamwork in shipbuilding, while key speakers such as Vice Adm. William Galinis highlighted the ship's strategic importance. Fort Lauderdale honors the city's historical ties to the Navy, dating back to the 1830s. HII remains a leading military shipbuilder in the U.S.
Huntington Ingalls Industries (HII) will host virtual hiring events for various trades positions, including welders and pipe fitters, as part of its recruitment strategy. The upcoming event for fitters is scheduled for Sept. 8, 2021. New hires can receive sign-on bonuses of $500 for entry-level roles and $1,000 for experienced positions, with additional incentives for those holding active security clearances. Candidates must apply in advance to be considered for interviews during the events. HII aims to fill hundreds of positions before the year's end.
Huntington Ingalls Industries (NYSE:HII) has completed its acquisition of Alion Science and Technology from Veritas Capital. This strategic move enhances HII's capabilities in advanced engineering and R&D services for the defense sector, particularly in areas like ISR, military training, and cyber analytics. Alion brings over 3,200 employees, with a significant majority holding security clearances. HII anticipates that this integration will strengthen its position in national security solutions, aligning with its strategic focus for growth.
Huntington Ingalls Industries (HII) has successfully completed its offering of $1 billion in Senior Notes, comprising $400 million of 0.670% Notes due 2023 and $600 million of 2.043% Notes due 2028. The proceeds will be utilized for the acquisition of Alion Science and Technology. The Notes are direct and unsecured obligations of HII, guaranteed by its domestic subsidiaries. This offering is crucial for financing the Alion acquisition, which aims to enhance HII's service offerings in defense and technology sectors.
Huntington Ingalls Industries (NYSE: HII) has appointed Jack Norris as the new director of state and local government affairs at its Ingalls Shipbuilding division. Norris brings over 20 years of experience in public policy, with a focus on fostering community and economic development. His role aims to enhance Ingalls’ strategic goals and strengthen relationships with governmental and community partners. Ingalls Shipbuilding President Kari Wilkinson highlighted Norris's expertise as vital for providing stability to the shipyard and surrounding communities.
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?
