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.
On November 13, Huntington Ingalls Industries (NYSE: HII) held its second annual Global Day of Caring, with employees participating in 26 community service projects across nine U.S. states, Romania, and South Korea. This initiative emphasizes the company's commitment to community involvement as part of its corporate culture. Technical Solutions President Andy Green highlighted the event's dual benefit for employees and communities. The company also supports the U.S. Marine Corps Reserve’s 2021 Toys for Tots program, showcasing its dedication to social responsibility.
Huntington Ingalls Industries (NYSE: HII) christened the pre-commissioning unit New Jersey (SSN 796) at its Newport News Shipbuilding division on November 13, 2021. The ceremony celebrated the dedication of shipbuilders and honored over 1,800 guests, including government officials and Navy personnel. New Jersey is the 23rd Virginia-class submarine, 82% complete, and scheduled for delivery in late 2022. The ship incorporates modifications for gender integration and symbolizes a strong national defense.
Huntington Ingalls Industries (NYSE: HII) recognized four employees at the 2021 Society of Asian Scientists and Engineers National Conference. Matthew Burris received the Career Achievement award, while Dennis Seran, Reby Vanta, and Khoa Nguyen were honored with Promising Professional awards. Additionally, two Newport News Shipbuilding employees, Emily Frantz and Teresa Mullen, won STEP Ahead awards for their contributions to manufacturing. Demetria Petty-Manes received the Prism Award for her leadership in engineering. HII continues to emphasize diversity and excellence within its workforce.
Huntington Ingalls Industries (NYSE:HII) appointed Grant Hagen as president of its Technical Solutions division Cyber and Electronic Warfare group, replacing Terri Walker-Spoonhour. Hagen, previously senior vice president of business operations, is credited with strategic acquisitions and developing the Unmanned Systems Center of Excellence. Andy Green, HII's president of Technical Solutions, expressed confidence in Hagen's leadership to enhance national security solutions. HII remains the largest military shipbuilding company in the U.S., employing over 44,000 people.
Huntington Ingalls Industries (HII) reported third-quarter 2021 revenues of $2.3 billion, a 1% increase year-over-year. Operating income fell to $118 million with an operating margin of 5.0%, down from 9.6% in Q3 2020. Net earnings decreased to $147 million and diluted EPS was $3.65, compared to $5.45 a year earlier. The acquisition of Alion Science and Technology closed on Aug. 19, contributing approximately $163 million in revenue. New contract awards totaled $600 million, raising total backlog to $50.1 billion.
Huntington Ingalls Industries (NYSE:HII) has announced a quarterly cash dividend of $1.18 per share, reflecting a $0.04 increase from the previous dividend of $1.14. The dividend will be paid on December 10, 2021, to shareholders of record as of the close of business on November 26, 2021.
As the largest military shipbuilding company in America, HII continues to demonstrate its commitment to returning value to shareholders while maintaining its leadership in national security solutions.
On October 28, 2021, Huntington Ingalls Industries CEO Mike Petters addressed 1,000 U.S. Coast Guard Academy cadets at the Admiral Thomas Wetmore Annual Ethics Forum. He emphasized the importance of leadership by example and motivating teams to excel beyond mere compliance. Petters inspired cadets to cultivate ethical habits and understand the impact of their actions. Huntington Ingalls, a leading military shipbuilding company, is responsible for building advanced national security cutters for the U.S. Coast Guard, enhancing maritime capabilities for national security and law enforcement.
Huntington Ingalls Industries (NYSE: HII) successfully completed the first round of sea trials for the San Antonio-class amphibious transport dock Fort Lauderdale (LPD 28). This achievement is a collaborative effort between Ingalls Shipbuilding and the Navy, with an emphasis on teamwork. The Fort Lauderdale is part of the Navy’s modern amphibious assault fleet. Ingalls has delivered 11 San Antonio-class ships and has three, including LPD 28, currently under construction. The contract for LPD 31 worth $1.5 billion was secured in 2020.
Huntington Ingalls Industries (NYSE: HII) celebrated the achievements of 12 employees at the 26th annual Women of Color STEM Conference held virtually from October 7-9, 2021. Among the honorees, three employees received Technology All-Star awards for significant accomplishments in their careers, while seven were recognized as Technology Rising Stars. Additionally, Lakela Lofton earned the Managerial Leadership Award, and Stacia Cooper received the Top Women in Finance Award, highlighting HII's commitment to diversity and excellence in leadership across various sectors.
Huntington Ingalls Industries (NYSE:HII) is set to release its third quarter 2021 financial results on November 4, 2021, at 9 a.m. Eastern Time. The earnings conference call will be accessible via a live webcast on the company’s website. Key executives including CEO Mike Petters and CFO Tom Stiehle will present and discuss the results. Established as the largest military shipbuilding company in America, HII has significant operations in Virginia and Mississippi, employing approximately 44,000 individuals globally. For further details, visit HII’s website.