Welcome to our dedicated page for Huntington Ingalls Inds news (Ticker: HII), a resource for investors and traders seeking the latest updates and insights on Huntington Ingalls Inds stock.
News for Huntington Ingalls Industries, Inc. (HII) centers on its role as a global, all-domain defense provider and the nation’s largest military shipbuilder. Coverage highlights how HII’s shipbuilding divisions and Mission Technologies business support U.S. and allied defense priorities through advanced surface combatants, nuclear-powered submarines, unmanned systems and integrated defense technologies.
Readers can follow updates on major shipbuilding milestones, such as delivery of Arleigh Burke-class destroyers like Ted Stevens (DDG 128), construction progress on Virginia-class submarines such as Oklahoma (SSN 802), and work on aircraft carriers and Zumwalt-class destroyers. News also covers new contracts and design awards, including HII’s selection to design and build the U.S. Navy’s future small surface combatant based on the Legend-class national security cutter.
The HII news flow also reflects the company’s growing unmanned and autonomy portfolio. Articles detail developments in the REMUS family of unmanned underwater vehicles, ROMULUS unmanned surface vessels powered by the Odyssey Autonomous Control System, and demonstrations of automated launch and recovery systems such as Sea Launcher. Expansion of unmanned operations in Europe, including the enlarged Portchester, U.K. facility, and participation in international frameworks like AUKUS also feature prominently.
Investors and defense observers can track mission technologies and missile defense work, including HII’s Mission Technologies division being awarded a position on the Missile Defense Agency’s SHIELD contract vehicle, opening opportunities in directed energy, command and control integration, cyber, microelectronics and live/virtual/constructive training. Regular visits from senior U.S. and allied defense leaders to HII’s shipyards, along with updates on workforce initiatives, industrial base investments and distributed shipbuilding, provide additional context on how HII supports long-term naval and security objectives. Bookmark this page for an organized view of contract awards, program milestones and strategic partnerships affecting HII.
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HII (NYSE: HII) has secured a $41.6 million contract from the U.S. Navy for combat systems availability work on the Lyndon B. Johnson (DDG 1002) Zumwalt-class destroyer. Ingalls Shipbuilding will manage the installation, activation, and testing of combat systems to ensure operational readiness. The contract encompasses program management, labor, materials, and facilities necessary for this initiative. The DDG 1002 features advanced technologies such as an electric propulsion system and stealth capabilities, enhancing Navy operational effectiveness.
HII (NYSE: HII) held a ceremonial keel-laying for the aircraft carrier Enterprise (CVN 80) on August 27, 2022, at its Newport News Shipbuilding division. U.S. Olympic champions Simone Biles and Katie Ledecky sponsored the ship, marking a significant milestone in its construction. The Enterprise will be the ninth U.S. Navy vessel with this name, incorporating steel from the first nuclear-powered carrier, CVN 65. It is designed as part of the new Gerald R. Ford class, featuring advanced technologies to enhance operational efficiency.
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.