Huntington Ingalls Inds Inc Stock Price, News & Analysis

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.

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.

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.

HII's CFO, Ashutosh Gokhale, has been recognized with the Public Company CFO of the Year award from WashingtonExec. The award was presented on May 10, 2024, in McLean, VA. Gokhale, who joined HII in 2021, was honored for significant business management improvements at HII’s Mission Technologies division in 2023, including the consolidation of an Enterprise Reporting Management system, implementation of new financial reporting and accounts payable systems, restructuring indirect rates, enhancing Sarbanes-Oxley controls, and improving cash collections. Gokhale attributed the award to the teamwork at HII.

HII, the largest military shipbuilder in the U.S., launched the “Build It” campaign during Fleet Week in New York City to highlight the vital role of shipbuilders in supporting the U.S. Navy. This campaign emphasizes the pride and job security associated with shipbuilding, alongside comprehensive benefits such as health coverage and professional development. HII's divisions include Newport News Shipbuilding, Ingalls Shipbuilding, and Mission Technologies, all contributing to national defense by building various types of military ships and employing advanced technologies. The campaign targets workers of all ages and skill levels, offering paid training and development opportunities. The initiative aims to complement the U.S. Navy's national advertising campaign and inspire young talent through educational partnerships like the one with the Tall Ship Providence Foundation.

HII has launched the 'Build It' campaign to highlight its support for the U.S. Navy and attract new talent during New York City's Fleet Week. The campaign showcases the contributions and benefits of shipbuilding careers, emphasizing comprehensive benefits, job security, and professional development. HII's divisions, including Newport News Shipbuilding, are important to national defense, producing nuclear-powered carriers and submarines, among other ships. The campaign targets workers of all skill levels and includes paid training programs. The initiative also aligns with a broader U.S. Navy effort to energize shipbuilding recruitment and features various promotional videos.

On May 17, 2024, HII hosted South Australia Premier Peter Malinauskas at its Newport News Shipbuilding division. This visit supports the AUKUS partnership involving Australia, UK, and the US, aimed at providing Australia with conventionally armed, nuclear-powered submarines. HII and the South Australian Government had previously signed an MOU in November for a cooperative working arrangement to leverage HII's maritime industrial expertise. Malinauskas highlighted the potential for South Australian companies to enter the global supply chain for nuclear-powered submarines. HII's commitment includes addressing critical skills, education, and training programs in Australia.

HII has signed a three-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to enhance mission-critical capabilities. This partnership will focus on developing solutions for defense and intelligence customers, including digital shipyard transformation, next-generation seapower capabilities, and warfighter training readiness. These initiatives will be managed by Dark Sea Labs, HII's advanced technology unit. The collaboration aims to leverage AI, machine learning, edge computing, and cloud modernization to deliver high-quality manufacturing and operational advantages.

The agreement centralizes previous engagements with AWS under a single executive champion, signifying a more unified and strategic collaboration. HII, headquartered in Virginia, employs 44,000 people and is the largest military shipbuilder in the U.S., specializing in various defense domains. The company has a 135-year history in advancing national security.