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Huntington Ingalls Industries (HII) Stock News, May-Jun 2022

HII NYSE

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.

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HII (NYSE:HII) announced a $240 million advance procurement contract from the U.S. Navy for long-lead-time materials and advance construction for amphibious transport dock LPD 32. This marks the 16th ship in the San Antonio-class built at Ingalls Shipbuilding. The funds will support nearly 400 suppliers across 30 states. LPD 32 is part of the Flight II series, designed to replace the older dock landing ships. HII has successfully delivered 12 San Antonio-class ships, with two currently under construction.

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HII (NYSE:HII) has successfully demonstrated capabilities for its amphibious warships to launch, operate, and recover large-diameter unmanned underwater vehicles (LDUUV), marking a significant advancement in mission-critical technology. This initiative, part of HII’s internal research and development efforts, showcases the collaboration between HII's Ingalls Shipbuilding and Mission Technologies divisions. The demonstration involved the prototype platform Pharos, enhancing operational flexibility for the U.S. Navy's national security strategies.

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HII (NYSE: HII) announced the christening of the Richard M. McCool Jr. amphibious transport dock (LPD 29) in Pascagoula, Mississippi, on June 11, 2022. This vessel honors U.S. Navy Captain Richard M. McCool Jr., a Medal of Honor recipient. The christening ceremony included remarks from Ingalls Shipbuilding President Kari Wilkinson and Under Secretary of the Navy Erik Raven, emphasizing the ship's role in supporting U.S. naval capabilities. The ship, co-sponsored by McCool's granddaughters, is part of HII's commitment to national security and maritime defense.

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HII (NYSE: HII) announces the appointment of Jeff Jackson as senior director of talent development in its Mission Technologies division. Reporting to Melanie Anderson, he will enhance talent strategies focused on leadership development, employee engagement, and diversity initiatives. This role aims to align human capital with the strategic objectives of the division, especially following recent acquisitions that enriched HII’s technical expertise. Jackson brings extensive experience from the defense sector and will contribute significantly to shaping the company's culture.

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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.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of Huntington Ingalls Industries (HII)?

Huntington Ingalls Industries (HII) last closed at $260.67.

What is the market cap of Huntington Ingalls Industries (HII)?

The market cap of Huntington Ingalls Industries (HII) is approximately $10.3B.