Huntington Ingalls Inds Inc Stock Price, News & Analysis

HII (NYSE:HII) has completed its first contractor-owned, contractor-operated (COCO) air combat training mission with the U.S. Air Force in Europe. This significant event enhances training readiness for U.S. forces in Europe/Africa and was developed over 16 months in collaboration with European governments and regulations. The program offers a cost-effective option for the U.S. government while extending the service life of combat equipment. Partnering with Top Aces, HII provided advanced adversary air training, marking a milestone for contracted air support in the European theater.

HII, a leader in engineering and defense technologies, has successfully completed the first planned incremental availability (PIA) for the USS Gerald R. Ford (CVN 78). This significant six-month modernization ensures the carrier is equipped with advanced technologies before its maiden deployment. The Ford is the first of its class to feature revolutionary systems aimed at enhancing the Navy's air capability. Three more Gerald R. Ford-class carriers are under construction, and mid-life overhauls for two Nimitz-class carriers are underway to extend their service life.

HII (NYSE:HII) announced the promotion of Edmond Hughes to executive vice president and chief human resources officer, effective April 1, 2022, replacing retiring William Ermatinger. Hughes, previously vice president of human resources at Ingalls Shipbuilding, will oversee HII's HR strategy, including executive compensation, talent management, and diversity initiatives. Susan Jacobs will take over Hughes' role at Ingalls. This leadership change aims to enhance knowledge sharing within HII and ensure continuity in its HR functions, reinforcing HII's commitment to developing talent and fostering an inclusive workplace.

On February 22, 2022, HII (NYSE:HII) celebrated the achievements of seven employees recognized for their contributions in STEM at the 36th annual Black Engineer of the Year Award STEM Global Competitiveness Conference. Notably, six employees were awarded the Modern Day Technology Leader award for their influence in engineering and technology. Thomasina Wright, director of programs at Newport News Shipbuilding, received the career achievement industry award. This acknowledgment underscores HII's commitment to innovation and its role in enhancing national security.

Huntington Ingalls Industries (HII) reported fourth quarter 2021 revenues of $2.7 billion, a 2.9% decrease from 2020. Operating income fell to $120 million with an operating margin of 4.5%, down from 11.1%. Diluted earnings per share were $2.99, a drop of 51.4% year-over-year. For the full year, revenues rose 1.7% to $9.5 billion, while diluted EPS decreased 21.2% to $13.50. New contract awards totaled approximately $1.0 billion in Q4, contributing to a backlog of $48.5 billion as of year-end.

HII (NYSE:HII) successfully completed initial sea trials of the Montana (SSN 794), a Virginia-class submarine, last week. The trials involved testing the submarine's systems, including its first submergence and high-speed maneuvers. HII plans to deliver the submarine to the U.S. Navy later this year. The project began in 2015, with the Montana being the 21^st Virginia-class submarine built in partnership with General Dynamics’ Electric Boat. The successful trials mark a significant milestone for HII and its partners.