Huntington Ingalls Inds Inc Stock Price, News & Analysis

HII (NYSE: HII) has completed the acquisition of an advanced manufacturing facility in South Carolina, establishing the Newport News Shipbuilding (NNS) - Charleston Operations. The facility will support the construction of nuclear-powered submarine modules and aircraft carrier units for U.S. Navy programs. Over 99% of the existing workforce has accepted offers to continue working at the site.

The acquisition includes 480,000 square feet of manufacturing space on 45 acres, featuring state-of-the-art equipment and infrastructure. The facility offers access to barge and rail transportation, along with proximity to Charleston's growing shipbuilding ecosystem. HII plans to create hundreds of additional jobs to support increased demand and growth at the Charleston facility.

The expansion aims to increase shipbuilding capacity and throughput for national security customers, particularly supporting Navy and AUKUS requirements. The strategic location provides access to a skilled maritime trades workforce with potential for further expansion.

HII (NYSE: HII) has announced it will release its fourth quarter 2024 financial results on Thursday, February 6, 2025, followed by an earnings conference call at 9 a.m. Eastern time. The event will feature presentations from Chris Kastner, president and CEO, and Tom Stiehle, executive vice president and CFO. The conference call will be accompanied by a slide presentation and will be webcast live on the company's website. A replay of the call will be available on HII's website for a time.

HII christened the San Antonio-class amphibious transport dock Harrisburg (LPD 30) at its Ingalls Shipbuilding division. The ship, named after Pennsylvania's capital city, is the first Flight II vessel in its class and the U.S. Navy's 14th San Antonio-class amphibious transport dock ship. The vessel was co-sponsored by Alexandra Curry and Jennifer Díaz, who performed the traditional bottle-breaking ceremony.

Harrisburg will support expeditionary warfare, humanitarian assistance, and disaster relief missions. Notably, Ingalls Shipbuilding is the sole provider of LPD 17 San Antonio-class ships and has delivered LPDs 17-29. The company currently has two Flight II LPDs under construction (Harrisburg and Pittsburgh), with pre-construction activities ongoing for Philadelphia (LPD 32). In September 2024, the Navy awarded Ingalls a contract for three additional San Antonio-class amphibious ships (LPDs 33-35).

HII has announced the appointment of Jennifer Childs as the new vice president of quality and engineering at its Ingalls Shipbuilding division, effective January 6, 2025. Childs, who has 17 years of experience at Ingalls and previously served as director of technical & design engineering, will succeed Brian Blanchette, who is becoming vice president of HII and president of Ingalls Shipbuilding.

In her new role, Childs will oversee quality programs, ship design, engineering, integrated logistics support, and planning yard engineering. As the current director of technical & design engineering, she has led teams responsible for designing, constructing, and testing advanced military ships for the Navy and the Coast Guard's national security cutter program.

HII's Ingalls Shipbuilding division and the U.S. Department of Labor's Job Corps program hosted a successful two-day recruiting event that resulted in 68 job offers to students. Over 120 students from 20 states interviewed for positions in welding, electrical, and machining trades. The event began at the Mississippi Job Corps Center in Crystal Springs, followed by onboarding activities and shipyard tours at Ingalls for successful candidates.

The partnership leverages Job Corps' nationwide network of over 120 centers and 43 training pathways to develop talent pipelines for the shipbuilding industry. This collaboration aims to address the country's shipyard workforce needs while providing direct career opportunities for Job Corps students.

HII christened the Virginia-class submarine Arkansas (SSN 800) at Newport News Shipbuilding division. The submarine's sponsors are six women from the historic Little Rock Nine, who were the first African American students to attend the previously all-white Central High School in Little Rock, Arkansas during desegregation in 1957.

Sponsor Carlotta Walls LaNier performed the traditional bottle-breaking ceremony. Secretary of the Navy Carlos Del Toro delivered the keynote address, emphasizing Arkansas's submarine force capabilities and its connection to its namesake's proud legacy.

Arkansas is the 27th Virginia-class submarine and the 13th to be delivered by Newport News Shipbuilding. The vessel features advanced capabilities including enhanced firepower, maneuverability, and stealth, contributing to the U.S. Navy's submarine force.

HII's Ingalls Shipbuilding division has successfully undocked the USS Zumwalt (DDG 1000), marking a significant milestone in the ship's modernization process. The lead ship of the Navy's Zumwalt-class guided missile destroyers underwent substantial upgrades since August 2023, including the integration of the Conventional Prompt Strike (CPS) weapon system and replacement of its original twin 155mm Advanced Gun Systems with new missile tubes.

The Zumwalt-class destroyers are equipped with advanced features including an electric propulsion system, wave-piercing tumblehome hull, stealth design, and cutting-edge warfighting technology. These vessels are designed to perform various missions including deterrence, power projection, sea control, and command and control operations.

HII (NYSE: HII) has secured a significant $6.7 billion contract to provide electronic warfare engineering and technical services support for the U.S. Air Force. This indefinite delivery/indefinite quantity contract marks the largest ever awarded to HII's Mission Technologies division. The contract, which was initially announced during HII's third quarter earnings call on October 31, 2024, will focus on electromagnetic spectrum and electronic warfare support services.

HII (NYSE: HII) has announced a definitive agreement to acquire the assets of W International, a South Carolina-based complex metal fabricator specializing in shipbuilding structures. The Goose Creek facility will operate under HII's Newport News Shipbuilding division, supporting the construction of nuclear-powered submarine and aircraft carrier modules for U.S. Navy programs.

The acquisition includes advanced production facilities with state-of-the-art equipment on a 45-acre site featuring over 480,000 square feet of manufacturing space, with barge and rail access. The facility will be renamed Newport News Shipbuilding - Charleston Operations, with Matt Needy appointed as general manager. The transaction is expected to close in Q4 2024, subject to regulatory approvals and contractual modifications.