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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 (NYSE:HII) announced that seven apprentices from The Apprentice School at Newport News Shipbuilding were honored as Outstanding Apprentices of the Year for 2020 by the Virginia Department of Labor and Industry. This recognition highlights their excellence in various trade skills, including leadership and initiative. The Apprentice School offers tuition-free apprenticeships in multiple trades and partnerships with local colleges for degree programs. As the largest military shipbuilding company in the U.S., HII continues to emphasize the importance of workforce development.
Huntington Ingalls Industries (NYSE:HII) has been awarded a task order contract by the Naval Information Warfare Center (NIWC) Pacific’s Intelligence, Surveillance and Reconnaissance (ISR) department. The contract, valued at up to $250 million, includes a three-year base term with a two-year extension option. HII will provide development and engineering services, including data analysis and software development, supporting the Navy’s ISR systems and cybersecurity operations from its San Diego location. This award reinforces HII's commitment to innovative solutions for defense.
Huntington Ingalls Industries (HII) has announced a financial commitment to provide 20 nuclear and environmental scholarship awards, in conjunction with its sponsorship of the Waste Management Symposia (WMS) through the Roy G. Post Foundation. This initiative, unveiled during the WMS conference on March 10, 2021, also facilitates access to STEM educational resources for 60 educators. Michael Lempke emphasized HII's dedication to workforce development in critical infrastructure fields, showcasing its longstanding commitment to education and training.
Huntington Ingalls Industries (HII) has announced the election of Kari Wilkinson as executive vice president and president of Ingalls Shipbuilding, effective April 1. She will succeed Brian Cuccias, who is retiring on the same date. Cuccias has led Ingalls Shipbuilding since 2014, enhancing production and customer service amidst challenges. Wilkinson brings 25 years of experience at Ingalls, having previously served as vice president of program management and ship program manager. She has a background in naval architecture and marine engineering, with a strong focus on operational excellence.
Huntington Ingalls Industries (NYSE:HII) announced the launch of the Virginia-class submarine Montana (SSN 794) into the James River at Newport News Shipbuilding. This 7,800-ton submarine, approximately 92% complete, underwent five years of construction with contributions from around 10,000 shipbuilders and suppliers nationwide.
The Montana is set for delivery to the U.S. Navy in late 2021, following its final outfitting, testing, and crew certification, and signifies a critical step in modernizing the Navy's submarine fleet.
Huntington Ingalls Industries (HII) has initiated a new collaboration with Habitat for Humanity Peninsula and Greater Williamsburg, marking its 19th build project since 2002. The groundbreaking event, adhering to COVID-19 protocols, featured future homeowners Mickeia Hunter and her sons. Built on donated land, the three-bedroom, 1,200-square-foot home aims to provide a secure living environment for the Hunters. HII emphasizes its commitment to community building alongside its extensive military shipbuilding operations, highlighting the significance of family and stability in this endeavor.
Huntington Ingalls Industries (NYSE: HII) announced a cost-plus-fixed-fee contract for life-cycle engineering support on the U.S. Navy's San Antonio (LPD 17) class, valued at $36.9 million, with a cumulative potential of $213.9 million. This contract will provide vital support services including systems engineering, supply chain management, and training for LPD 17-class systems. Ingalls Shipbuilding President Brian Cuccias emphasized the importance of this contract for sustaining the Navy's amphibious fleet, highlighting the skilled workforce's capability to manage evolving threats.
Huntington Ingalls Industries (NYSE:HII) announced key promotions within its Technical Solutions division, effective March 1. Grant Hagen becomes vice president of business operations, Jaime Orlando joins as vice president of communications, and Chris Walton assumes the role of vice president of information technology. The leadership changes aim to enhance operational success, brand visibility, and business growth. Each appointee has significantly improved their departments, aligning with the company's strategic objectives in defense and federal solutions.
Huntington Ingalls Industries (NYSE:HII) has been awarded a significant $2.9 billion contract for the refueling and complex overhaul (RCOH) of the nuclear-powered aircraft carrier USS John C. Stennis (CVN 74). This project constitutes 35% of the ship's total maintenance during its 50-year service life. The RCOH will involve extensive modernization across over 2,300 compartments, including refueling of reactors and upgrades to various systems. More than 4,000 employees will be involved in the project, slated to be completed by late 2025.
Huntington Ingalls Industries (NYSE:HII) announced that nine employees from its divisions received accolades for their contributions in STEM at the 35th Annual Black Engineer of the Year Award STEM Global Competitiveness Conference. Six employees earned the Modern Day Technology Leader award, while three received the Science Spectrum Trailblazer award. This recognition highlights HII's commitment to fostering talent in engineering and technology, crucial for its extensive shipbuilding and technical solutions operations.
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