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 (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.
Huntington Ingalls Industries (HII) reported a strong fourth quarter for 2020, with revenues of $2.8 billion, marking a 14.3% increase year-over-year. Operating margin rose to 11.1% from 7.7% in Q4 2019. Diluted earnings per share increased by 70.4% to $6.15. Total backlog reached $46.0 billion. For FY21, HII expects shipbuilding revenues between $8.2 billion and $8.4 billion, with operating margins from 7.0% to 8.0%. The company reflects strong financial performance despite COVID-19 challenges, entering 2021 with positive momentum.
PMC Capital Partners has successfully acquired UniversalPegasus International from Huntington Ingalls Industries (HII). This award-winning firm specializes in engineering design and has maintained strong performance during the COVID-19 pandemic. UniversalPegasus ranks among the top engineering firms, with a robust backlog of business. PMC Capital aims to enhance UniversalPegasus's services and growth potential, capitalizing on its established reputation and expertise in the energy sector. Financial details of the acquisition remain undisclosed.
Huntington Ingalls Industries (NYSE:HII) secured a contract from the U.S. Navy worth up to $175 million for maintenance, training, and planning support for aircraft carriers. The indefinite-delivery/indefinite-quantity contract spans a five-year term. HII will provide engineering, maintenance, and operator training for shipboard systems. Work will be conducted in various locations including Virginia, California, Washington, and Japan, supporting the Navy's operational readiness.
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?
