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Huntington Ingalls Industries, Inc. - HII STOCK NEWS

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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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HII's Newport News Shipbuilding (NNS) division has initiated the construction of the 22nd Habitat for Humanity home in Newport News, Virginia. This milestone was celebrated with a groundbreaking ceremony attended by community leaders and officials. David Horne, NNS's vice president of trades, is the sponsor for the home, which honors the late Jim Cochran, a dedicated shipbuilder and volunteer. The 1,200-square-foot house will be built in the Southeast community on land donated by the Newport News Redevelopment and Housing Authority. Habitat for Humanity's CEO, Janet V. Green, emphasized the importance of affordable housing and the impact of their partnership with NNS. The selected homebuyer, Latesha, a mother of five, will contribute 400 hours of work towards the build and purchase the home with a no-interest mortgage.

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HII, a major player on the NYSE under the ticker HII, will take part in Bernstein’s 40th Annual Strategic Decisions Conference on May 29, 2024. The event, set to commence at 1:30 p.m. Eastern time, will feature a conversation with HII's President and CEO Chris Kastner. This session will be webcast live on the HII investor relations website at ir.hii.com. Investors and stakeholders can tune in to gain insights into the company's strategic direction and future plans.

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FAQ

What does Huntington Ingalls Industries, Inc. (HII) specialize in?

HII specializes in military shipbuilding and provides engineering, manufacturing, and management services in nuclear energy, oil, and gas sectors.

What are the main divisions of HII?

HII operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Mission Technologies.

Where is Huntington Ingalls Industries headquartered?

HII is headquartered in Newport News, Virginia.

How many employees does HII have?

HII employs approximately 37,000 people.

What recent partnerships has HII announced?

HII has announced a strategic collaboration with Amazon Web Services (AWS) to enhance digital shipyard transformation and next-generation sea power capabilities.

What is the latest financial performance of HII?

For the first quarter of 2024, HII reported revenues of $2.8 billion, up 4.9% from the first quarter of 2023, with an operating income of $154 million.

What innovations is HII focusing on?

HII is focusing on innovations in technology to improve shipyard operations, including partnerships with industry leaders like 3M and Lincoln Electric.

What types of ships does HII's Newport News Shipbuilding division produce?

The Newport News Shipbuilding division produces nuclear-powered aircraft carriers and is a key subcontractor for Virginia and Columbia-class nuclear submarines.

Does HII have any educational initiatives?

Yes, HII sponsors STEM expos to inspire future generations of shipbuilders and innovators.

How does HII contribute to the defense sector?

As the largest military shipbuilder in the U.S., HII provides critical capabilities from ships to unmanned systems, ensuring a strong naval presence globally.

Huntington Ingalls Industries, Inc.

NYSE:HII

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