Huntington Ingalls Inds Inc Stock Price, News & Analysis

PASCAGOULA, Miss., June 4, 2022 – HII (NYSE: HII) christened the Calhoun (WMSL 759), a Legend-class national security cutter at Ingalls Shipbuilding. Named after Charles L. Calhoun, the first master chief petty officer of the U.S. Coast Guard, this vessel honors his legacy. The ship's christening, marked by the breaking of a wine bottle by his granddaughter, Christina Calhoun Zubowicz, signifies a strong partnership with the U.S. Coast Guard. The Calhoun is the 10th national security cutter, with nine previously delivered and two under construction, expected to enhance national security and operational capabilities.

HII (NYSE:HII) has announced Brandi Smith as the new vice president of the Columbia-class program at Newport News Shipbuilding, effective June 1. She succeeds Charles Southall, who retires after over 35 years. The Columbia-class is the U.S. Navy's top acquisition priority, set to replace the Ohio-class submarines. Smith, who joined HII in 2002, brings extensive experience from various roles within the company, including director of the Columbia-class construction program. HII remains America’s largest shipbuilder, with a workforce of 44,000.

HII (NYSE:HII) will participate in Bernstein's Strategic Decisions Conference on June 2, 2022, with President and CEO Chris Kastner presenting at 3:30 p.m. Eastern time. The event will be available via webcast at ir.hii.com. HII is recognized as America's largest shipbuilder, providing advanced defense and technology solutions. With a 135-year legacy, HII offers capabilities including naval ships, unmanned systems, and analytics. The company employs 44,000 individuals and is committed to U.S. national security.

HII (NYSE:HII) has awarded $100,000 in grants to 25 STEM initiatives in Mississippi and Alabama through its Ingalls Shipbuilding division. This funding is part of a decade-long commitment, totaling over $1.1 million, to support STEM education. Kari Wilkinson, president of Ingalls Shipbuilding, emphasized the importance of STEM for future shipbuilders. Teachers praised the grants for enhancing educational opportunities, including robotics and engineering projects. HII continues to invest in education and workforce development through partnerships and apprenticeship programs.

HII (NYSE:HII) announced plans to hire approximately 5,000 employees in 2022, focusing on skilled trades to support U.S. Navy shipbuilding. The company aims to hire nearly 21,000 over the next decade for aircraft carriers and submarines. Entry-level positions start at $21-plus per hour, with sign-on bonuses available. Newport News Shipbuilding is actively recruiting nationwide and partnering with workforce agencies, emphasizing training and career development for new hires.

HII (NYSE:HII) reported first quarter 2022 revenues of $2.6 billion, a 13.1% increase year-over-year, mainly due to the acquisition of Alion Science and Technology. Net earnings reached $140 million, translating to $3.50 diluted earnings per share, down from $148 million and $3.68 respectively in Q1 2021. Operating income fell to $138 million with a margin of 5.4%. Notably, free cash flow was negative at $126 million. New contract awards amounted to approximately $2.0 billion, with a total backlog of $47.9 billion as of March 31, 2022.

HII hosted U.S. Secretary of Labor Marty Walsh and Rep. Bobby Scott for a tour of The Apprentice School at Newport News Shipbuilding. Funded by HII, the school provides tuition-free apprenticeships in 19 trades. Walsh praised the program as a model for workforce development, emphasizing its role in preparing workers for high-demand jobs. The Apprentice School is accredited and offers associate degrees in various fields through partnerships with local colleges. HII, America's largest shipbuilder, focuses on advancing national security through a strong workforce of 44,000 employees.

HII (NYSE:HII) has declared a quarterly cash dividend of $1.18 per share, scheduled for payment on June 10, 2022. Shareholders on record as of May 27, 2022 will qualify for this dividend. HII, renowned as America’s largest shipbuilder, provides vital defense and technology solutions that support U.S. national security. The company has a 135-year history and a workforce of 44,000 employees, emphasizing its long-standing commitment to delivering advanced capabilities in naval ships, unmanned systems, and AI/ML analytics.