Huntington Ingalls Inds Inc Stock Price, News & Analysis

HII (NYSE: HII) announced the authentication of the keel for the Jeremiah Denton (DDG 129), an Arleigh Burke-class guided missile destroyer, on August 16, 2022. The ship honors former U.S. Senator Jeremiah Denton Jr., a Vietnam War hero. Ingalls Shipbuilding President Kari Wilkinson highlighted the importance of Denton's legacy. The destroyer is the third Flight III vessel constructed at Ingalls, featuring enhanced design capabilities for a variety of military operations. The event underscores HII's commitment to national security and shipbuilding excellence.

HII's CEO, Chris Kastner, recently visited Hawaii to reinforce the company's commitment to national security and workforce development. Following nearly $1 billion in contract wins, HII is expanding its Mission Technologies division, which now accounts for a quarter of its revenue and showcases a $26 billion business pipeline. HII builds 70% of Navy ships at Joint Base Pearl Harbor-Hickam and is collaborating with local educational institutions to enhance skills for national defense. The company ranks 11th on Forbes’ list of America’s Best Employers for 2022.

HII's Mission Technologies division has secured a $79 million task order under the U.S. Air Force's Training Systems Acquisition III contract. This order focuses on supporting Air Mobility Command's Mobility Air Force Distributed Mission Operations (MAF DMO) for global aircrew training. The contract includes a base period and five one-year options. HII will enhance live, virtual, and constructive (LVC) training capabilities, reinforcing network connectivity and interoperability for Air Force major commands.

HII (NYSE: HII) announced a significant milestone in the construction of the Virginia-class submarine Massachusetts (SSN 798), with the completion of the pressure hull. This accomplishment marks the last major construction step before the submarine's launch. Jason Ward, vice president of Virginia-class submarine construction, emphasized the dedication of shipbuilders to deliver advanced submarines that bolster national security. The Newport News Shipbuilding division continues to invest in its workforce and facilities to deliver critical naval assets. Massachusetts is the 25th Virginia-class submarine.

HII's Newport News Shipbuilding will host the keel-laying ceremony for the Gerald R. Ford-class aircraft carrier Enterprise (CVN 80) on August 27, 2022. The event is not open to the public but will be livestreamed. Olympic gold medalists Simone Biles and Katie Ledecky are sponsors of the ship, with Ledecky attending in person. A media preview day is scheduled for August 26, providing opportunities for interviews with shipbuilding leadership and Navy officials. Enterprise will be the first digitally designed and built aircraft carrier.

HII reported second-quarter 2022 revenues of $2.7 billion, a 19.3% increase from 2021, driven by the acquisition of Alion Science and Technology and growth at Newport News Shipbuilding. Net earnings rose to $178 million or $4.44 per diluted share. Operating income was $191 million with a margin of 7.2%. Segment operating income increased to $225 million with an 8.5% margin. New contracts awarded totaled approximately $2.0 billion, resulting in a backlog of $47.2 billion.

HII (NYSE: HII) has secured a $127 million task order from the Defense Security Cooperation Agency (DSCA) for research, development, test, and evaluation of emerging technologies. This five-year contract aims to enhance system integration through advanced software and hardware capabilities, systems engineering, and analysis. The project is expected to improve efficiencies within the Security Cooperation community, aiding the DSCA in achieving milestone success and cost savings, thereby benefiting all DOD-administered Security Assistance programs.

HII (NYSE:HII) has declared a quarterly cash dividend of $1.18 per share, scheduled for payment on Sept. 9, 2022. Shareholders of record as of Aug. 26, 2022 will be eligible. This dividend reflects HII's ongoing commitment to returning value to its shareholders.

HII, a leader in national defense and technologies, is recognized as America's largest shipbuilder and employs around 44,000 people. The company is involved in delivering advanced naval vessels and technology solutions supporting U.S. national security.

HII (NYSE:HII) announced it has awarded 190 scholarships totaling over $3 million to dependent children of its employees for the 2022-2023 academic year. Over the course of this program, which spans seven years, HII has provided 1,170 scholarships benefiting more than 600 children. The scholarships support various educational pursuits, with amounts ranging from $1,500 for two-year programs to $3,000 for four-year college students. This initiative is part of HII's commitment to education and community support, reinforcing its dedication to employee families and national development.