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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.
HII (NYSE: HII) announced that its Newport News Shipbuilding (NNS) division has completed contracted work at the Naval Nuclear Laboratory's Kenneth A. Kesselring Site in West Milton, New York. Since 2012, NNS has provided maintenance services and led the refueling overhaul of a nuclear reactor prototype at the site, which supports the U.S. Navy's Naval Nuclear Propulsion Program.
Mary Cullen, NNS vice president of nuclear propulsion, stated that the completion of this work positions Kesselring to continue training nuclear operators for decades. NNS is the nation's sole designer, builder, and refueler of nuclear-powered aircraft carriers and one of only two shipyards capable of designing and building nuclear-powered submarines for the U.S. Navy.
HII (NYSE: HII) hosted a delegation of Australian parliamentarians and U.S. Representatives at its Newport News Shipbuilding division to support the AUKUS partnership. The visit focused on HII's expertise in nuclear-powered submarine sustainment, supply chain management, and workforce development. HII, as a founding member of the AUKUS Workforce Alliance, is committed to preparing a skilled workforce for Australia's nuclear-powered submarine program.
The delegation, led by Milton Dick, Speaker of the Australian House of Representatives, engaged with senior leadership about HII's capabilities. Rep. Bobby Scott and Rep. Rob Wittman emphasized the importance of Virginia's submarine industrial base in supporting the AUKUS agreement and deterring China's military aggression in the Indo-Pacific region.
On July 10, 2024, HII (NYSE: HII) hosted Assistant Secretary of the Navy for Research, Development, and Acquisition, Nickolas Guertin, at its Ingalls Shipbuilding division in Pascagoula, Mississippi.
During the visit, Secretary Guertin met with shipbuilders and leadership, receiving updates on ships under construction and modernization efforts. He toured the guided missile destroyer Ted Stevens (DDG 128) and the amphibious assault ship Bougainville (LHA 8).
Ingalls Shipbuilding President Kari Wilkinson emphasized the company's commitment to supporting global peace and prosperity through its shipbuilding efforts. Ingalls Shipbuilding has a long history of designing, building, and maintaining ships for the U.S. Navy and Coast Guard, and is currently building four classes of ships simultaneously.
HII (NYSE: HII) is set to announce its second quarter 2024 financial results on August 1, 2024. An earnings conference call, featuring remarks from CEO Chris Kastner and CFO Tom Stiehle, will be held at 9 a.m. Eastern time on the same day. The call will be webcast live on HII’s official website, where supplementary slides will also be available. Replays of the webcast will be accessible on the website for a period.
HII’s (NYSE: HII) Ingalls Shipbuilding division hosted 23 Mississippi educators for a two-week Educator Externship program at its shipyard in Pascagoula, Mississippi, from June 3 to June 14, 2024. Organized by Ingalls' human resources and administration team, the program aimed to bridge the gap between education and industry, providing educators with firsthand experience in shipbuilding. Susan Jacobs, VP of Human Resources, emphasized the importance of the program in fostering a deeper appreciation for the critical skills needed in shipbuilding and the career opportunities at Ingalls. The initiative highlights Ingalls' commitment to workforce development and its role as the largest manufacturing employer in Mississippi, currently building four classes of ships for the U.S. Navy.
HII's Ingalls Shipbuilding division has opened applications for its 2024-2025 STEM grant awards, providing up to $100,000 in funding for educational initiatives in Alabama, Louisiana, and Mississippi. The application period is open until October 18, 2024, and recipients will be announced in January 2025.
Eligible educators and nonprofit organizations can apply for grants of up to $5,000 per project, focusing on science, technology, engineering, or mathematics. Over the past decade, Ingalls has awarded over $1.1 million to support STEM education.
Last year's grant cycle saw nearly 80 applications, with 24 projects receiving support. The initiative aims to foster innovation and critical thinking among youth and cultivate future shipbuilders.
On June 25, 2024, HII (NYSE: HII) hosted a congressional delegation from the House Armed Services Committee at its Newport News Shipbuilding division. The delegation, led by Chairman Rep. Mike Rogers, included Rep. Joe Courtney, Rep. Rob Wittman, and Rep. Jen Kiggans. The visit showcased the shipyard's operations, work quality, and innovations in technology, such as fixture-based manufacturing. During the tour, the delegation observed the construction of Columbia- and Virginia-class submarines, as well as Gerald R. Ford-class aircraft carriers. HII's NNS division is the largest industrial employer in Virginia with over 25,000 employees, and the visit emphasized the importance of stable demand signals for a robust shipbuilding industrial base. Photos of the visit can be viewed on HII's website.
HII’s Newport News Shipbuilding division, in collaboration with the U.S. Navy, the city of Newport News, and the commonwealth of Virginia, announced the construction of a new parking garage. This project will create over 2,000 new parking spaces, enhancing accessibility for shipbuilders and sailors.
Contractor W.M. Jordan will use an innovative offsite pre-construction strategy to expedite completion. This improvement aligns with future Navy commitments and the ongoing transformation of both Newport News Shipbuilding and downtown Newport News.
Key figures such as NNS President Jennifer Boykin, Rear Adm. Casey Moton, and Virginia State Sen. Mamie Locke highlighted the garage’s significance for the community and its workforce.
HII's Mission Technologies division has appointed Tim Brown as vice president of operations and Terry Nichols as managing director for two business areas in Australia. These appointments are aimed at advancing the goals of the Australia-United Kingdom-United States (AUKUS) trilateral partnership. Brown will lead efforts for AUKUS Pillar 1, focusing on nuclear-powered, conventionally armed submarine fleet development, while Nichols will leverage HII's expertise in advanced cyber, electronic warfare, AI, and C5ISR operations for AUKUS Pillar 2. Their leadership is expected to enhance capabilities and forge strong alliances with the Australian Defence Force.
On May 31, 2024, HII's Ingalls Shipbuilding division recognized 42 shipbuilders for achieving 40 years of continuous service, referring to them as 'master shipbuilders.' A special ceremony on May 30 honored their dedication, expertise, and vital role in national defense. President Kari Wilkinson praised their excellence and commitment. Master shipbuilders James Kelly and Alice Stringfield shared their reflections and encouraged community members to pursue careers at Ingalls. A video tribute was featured, showcasing their stories and legacy.
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