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Huntington Ingalls Industries (HII) is America's largest military shipbuilder, delivering advanced naval defense systems and mission technologies. This page provides investors and industry professionals with verified updates on corporate developments shaping national security markets.
Access official press releases, earnings reports, and analysis of defense contracts. Track naval engineering milestones, government partnerships, and innovations from HII's Mission Technologies division through curated updates sourced directly from company communications.
Key updates include quarterly financial results, vessel delivery announcements, cybersecurity advancements, and Department of Defense procurement awards. All content adheres to financial disclosure standards for reliable decision-making.
Bookmark this page to monitor HII's strategic initiatives in military shipbuilding and unmanned systems through a single authoritative channel.
Huntington Ingalls Industries announced key executive changes to enhance operational performance. Christopher D. Kastner has been promoted to executive vice president and chief operating officer, while Thomas E. Stiehle takes over as executive vice president and CFO. These changes, effective February 12, 2021, aim to better align with the company’s $45 billion backlog and the Navy’s shipbuilding plans. Kastner, with extensive experience in corporate development and finance, will oversee operations, while Stiehle will focus on corporate strategy and financial management.
Huntington Ingalls Industries (NYSE: HII) hosted a virtual keel authentication ceremony for the Massachusetts (SSN 798), marking a significant construction milestone for the Virginia-class submarine. The event, adjusted for COVID-19 safety measures, highlighted the partnership between shipbuilders and the vessel's crew. The submarine, approximately 50% complete and scheduled for delivery in 2023, is part of a larger contract with General Dynamics Electric Boat. Jennifer Boykin, president of Newport News Shipbuilding, and Sheryl Sandberg, the ship's sponsor, underscored the importance of this milestone.
Huntington Ingalls Industries (NYSE:HII) will participate in Credit Suisse’s 8th annual Virtual Industrials Conference on December 3, 2020, at 12:30 p.m. Eastern time. The event will feature a discussion with Executive Vice President and CFO Chris Kastner, and will be available for streaming on HII's investor relations website.
As the largest military shipbuilding company in the U.S., HII has a rich history of building various ship classes and supports national security missions worldwide through its Technical Solutions division.
Huntington Ingalls Industries (NYSE:HII) announced a $2.2 billion contract modification from General Dynamics Electric Boat for the Columbia-class submarine program. This contract extends design support and mandates the construction of six module sections for the first two submarines. Module delivery is set to start in November 2022, concluding by January 2028. Newport News Shipbuilding has been a vital partner in this program, which aims to replace the retiring Ohio-class submarines, with the lead submarine expected to be delivered in 2027.
Huntington Ingalls Industries (NYSE: HII) was awarded the Gold 2020 HIRE Vets Medallion Award by the U.S. Department of Labor, recognizing its commitment to veteran employment. Secretary Eugene Scalia honored HII as one of 675 recipients for effectively recruiting and retaining veterans. The award criteria focus on veteran hiring, leadership programming, and specific resources for veterans. Currently, 15% of HII's workforce comprises veterans and active military personnel, highlighting the company’s dedication to those who serve the nation.
Huntington Ingalls Industries (NYSE:HII) has successfully delivered the National Security Cutter Stone (WMSL 758) to the U.S. Coast Guard. This marks HII's ninth NSC delivery, a significant achievement for its Ingalls Shipbuilding division. Stone is set to embark from the shipyard to its Charleston, South Carolina homeport by year-end. The Legend-class NSC is the most technologically advanced vessel in the Coast Guard fleet, measuring 418 feet with multi-mission capabilities for security, law enforcement, and environmental protection.
Huntington Ingalls Industries (HII) reported a 4.3% increase in third-quarter 2020 revenues, totaling $2.3 billion, with diluted earnings per share rising to $5.45 from $3.74 in Q3 2019. Operating income was $222 million, maintaining a steady operating margin of 9.6%. The company’s cash flow showed a decline, with free cash flow falling to $160 million from $250 million year-over-year. HII's backlog reached $45.3 billion, bolstered by new contract awards of approximately $1.6 billion. The CEO emphasized ongoing COVID-19 management and successful shipbuilding milestones.
Huntington Ingalls Industries (HII) has announced a quarterly cash dividend of $1.14 per share, marking an increase of $0.11 from the previous dividend of $1.03. This dividend is set to be paid on December 11, 2020, to shareholders on record as of November 27, 2020. HII is the largest military shipbuilding company in the U.S., employing over 42,000 individuals across various divisions.
Huntington Ingalls Industries (HII) has secured an undefinitized contract from the U.S. Navy, transitioning the delivery of the aircraft carrier John F. Kennedy (CVN 79) from a two-phase to a single-phase approach. The contract could be worth up to $315 million, providing initial funding for procurement and planning. This change aims to deliver the ship with its complete warfare system, including F-35 capabilities, before its 2024 commissioning. Kennedy is currently 76% complete, with enhancements that promise improved operational efficiency and reduced costs.
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