Huntington Ingalls Industries, Inc. reports developments across U.S. military shipbuilding and defense mission technologies. The company’s Ingalls Shipbuilding division builds non-nuclear surface ships such as Arleigh Burke-class guided missile destroyers and supports new frigate work, while Newport News Shipbuilding builds nuclear-powered aircraft carriers and participates in U.S. submarine programs.
Recurring HII news includes U.S. Navy contract awards, ship deliveries and sea-trial milestones, distributed shipbuilding initiatives, workforce pipelines through shipyard academies and apprenticeships, quarterly earnings, and cash dividends. Mission Technologies updates cover unmanned and autonomous maritime platforms, including REMUS unmanned underwater vehicles, and defense capabilities tied to C6ISR, artificial intelligence and machine learning, electronic warfare, and synthetic training.
HII (NYSE: HII) announced its Newport News Shipbuilding division has received certification to supply additive manufacturing components to Naval Sea Systems (NAVSEA). This approval allows for the use of 3D printing to create pipefittings and other parts for aircraft carriers and submarines. NNS aims to leverage this technology to improve efficiency and affordability in naval engineering. Since the initial delivery of a 3D-printed part in 2019, NNS has expanded its capabilities and is pursuing broader approvals for additive manufacturing. The new certification specifically covers stainless steel (316/316L) components.
On March 3, 2023, HII hosted Chief of Naval Operations Adm. Michael Gilday at its Newport News Shipbuilding division. During his visit, Gilday met with leadership, toured the shipyard, and received updates on the progress of the Columbia and Virginia-class submarines as well as three Gerald R. Ford-class aircraft carriers: John F. Kennedy, Enterprise, and Doris Miller. The shipyard emphasized its commitment to safety, innovation, and continuous improvement in delivering high-quality naval vessels. HII employs 25,000 people at this site and is the sole builder of nuclear-powered aircraft carriers and one of two shipyards for nuclear submarines in the U.S.
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HII (NYSE: HII) and Ocean Aero have entered a strategic agreement to enhance unmanned maritime platforms and autonomy software solutions. The collaboration aims to improve operational reach, duration, and sensor capabilities. Duane Fotheringham, president of HII’s Unmanned Systems division, emphasized the partnership's potential to advance U.S. Armed Forces capabilities. Both companies are engaged in various global initiatives, including recent exercises in the Arabian Gulf. HII is recognized for manufacturing the REMUS underwater vehicles, while Ocean Aero developed the TRITON, an environmentally powered vehicle for ocean data collection.
HII's Newport News Shipbuilding division has enhanced its recruitment efforts through the launch of the Ray Bagley Innovation Lab, a mobile facility dedicated to training future shipbuilders. This initiative, part of the Apprentice School, offers hands-on experience across all 19 trades offered by the school. Since 2021, the lab has served as an orientation tool for new apprentices and provides K-12 students insights into shipbuilding careers. Recently dedicated in honor of Ray Bagley, a former vice president at NNS, the lab has gained financial support from HII, Verizon, and BayPort Credit Union, ensuring a new generation is equipped for success in shipbuilding.
On February 22, 2023, HII's Newport News Shipbuilding division hosted U.S. Reps. Bobby Scott, Rob Wittman, and Jen Kiggans for a tour and meeting. NNS President Jennifer Boykin highlighted the importance of congressional support for their shipbuilders. During the tour, representatives observed construction of Columbia- and Virginia-class submarines and the Gerald R. Ford-class aircraft carrier, Enterprise (CVN 80). They discussed the significance of HII's role in national defense and the shipbuilding industry's impact on the Virginia economy, emphasizing the need for bipartisan support, stable funding, and a skilled workforce.
PASCAGOULA, Miss., Feb. 16, 2023 (GLOBE NEWSWIRE) -- HII's Ingalls Shipbuilding division hosted U.S. Rep. Mike Ezell for his first official visit. During the tour, Ezell met with leadership and observed the construction of the amphibious transport dock Richard M. McCool Jr. (LPD 29). The Ingalls Shipbuilding President emphasized the significance of their work for the Navy and Coast Guard. With over 11,000 employees, Ingalls is Mississippi's largest manufacturing employer and a major economic contributor. HII's Ingalls has a long history of providing advanced ships for national defense, underscoring its critical role in U.S. military capabilities.
HII (NYSE: HII) has recognized seven employees for their achievements in STEM at the 37th Black Engineer of the Year Awards (BEYA) Conference in National Harbor, Md. Five employees received the Modern-Day Technology Leader award, including Preshus Boone and Marcus Jackson from Newport News Shipbuilding, while DeLaurence Johnson and Cliftoria Stokes earned the Science Spectrum Trailblazer award. HII President Chris Kastner emphasized the importance of diversity in driving innovation. Additionally, HII showcased its workforce training capabilities through digital shipbuilding experiences, highlighting its commitment to technological advancement.
HII (NYSE: HII) has commenced construction on the Multi-Class Submarine Production Facility at its Newport News Shipbuilding division, aimed at enhancing the production of Columbia- and Virginia-class submarines. This facility is part of a larger $1.9 billion investment by HII between 2016 and 2025, jointly funded with the Navy. The Columbia-class program, crucial for national defense, will replace the Ohio-class submarines. NNS is a primary contractor for these submarines, working alongside General Dynamics Electric Boat. The groundbreaking marks the start of a strategic project to meet the Navy's submarine needs efficiently.
HII (NYSE:HII) reported a fourth quarter 2022 revenue of $2.8 billion, a 5.0% increase from Q4 2021. For the full year, revenues were $10.7 billion, up 12.1% year-over-year, with diluted earnings per share at $14.44, up from $13.50 in 2021. Operating income for Q4 2022 was $105 million, yielding an operating margin of 3.7%. New contract awards in Q4 reached $3.2 billion, increasing total backlog to $47.1 billion. Guidance for FY23 includes shipbuilding revenue between $8.4 and $8.6 billion.