Huntington Ingalls Inds Inc Stock Price, News & Analysis

HII's Newport News Shipbuilding (NNS) division is strengthening its partnership with Old Dominion University (ODU) by opening an onsite NNS office in ODU's Engineering Systems building. The collaboration focuses on engineering, business, technology, modeling and simulation, student engagement, and the future of shipbuilding.

This initiative builds upon NNS's role as the lead industry sponsor of the Monarch Accelerator Program to Engineering (MAP-to-E), which aims to increase engineering and engineering technology majors and degrees, particularly from underrepresented communities in Hampton Roads.

The new office allows ODU students to connect directly with NNS for internships, co-ops, full-time employment, professional development, and mentoring opportunities. Currently, over 22% of NNS's engineering workforce are ODU graduates. NNS also sponsors the NNS Scholars program, providing academic scholarships to qualified students in engineering, business, or computer science.

HII (NYSE: HII) hosted Gen. Charles Q. Brown Jr., chairman of the Joint Chiefs of Staff, at its Newport News Shipbuilding division. Brown emphasized the importance of maintaining warfighting skills and praised the collaboration between the Navy's shipbuilding team and defense industry partners. During his visit, Brown toured the John F. Kennedy (CVN 79), observed construction progress on Virginia- and Columbia-class submarine modules, and met with shipyard leadership.

Accompanied by Adm. William Houston and Vice Adm. Jim Downey, Brown's visit highlighted the critical role of nuclear-powered aircraft carriers and submarines in national security. NNS President Jennifer Boykin expressed gratitude for Brown's visit and reaffirmed the shipbuilders' commitment to supporting the Department of Defense. NNS is the sole designer, builder, and refueler of nuclear-powered aircraft carriers in the U.S. and one of only two shipyards capable of designing and building nuclear-powered submarines.

HII (NYSE: HII) announced that its Mission Technologies division has been awarded a task order to conduct research for enhancing navigation and autonomy technologies for the U.S. Air Force and broader Department of Defense. The research will be conducted at Wright-Patterson Air Force Base in Dayton, Ohio, focusing on three main areas:

• Autonomous and cooperative systems
• Non-GPS precision navigation
• Robust global navigation satellite system navigation/navigation warfare

The research findings will help identify and solve challenging problems in these areas and lay the groundwork for future technological advancements. Grant Hagen, president of Mission Technologies' Cyber, Electronic Warfare and Space business group, emphasized the vital importance of this work for the future of defense and its significant impact on future navigation methods.

HII (NYSE: HII) has announced that it will release its third quarter 2024 financial results on Thursday, Oct. 31. The company will host an earnings conference call at 9 a.m. Eastern time on the same day. The call will be webcast live on HII's website, and participants will include Chris Kastner, president and CEO, and Tom Stiehle, executive vice president and CFO.

Their remarks will be supplemented by a series of slides available on the company website. Listeners are encouraged to view these materials during the call. Replays of the call will be available on the website for a time.

HII's Mission Technologies division has opened a new Advanced Materials and Coatings Lab (AMCL) in Willowbrook, Illinois. This state-of-the-art facility is dedicated to developing and manufacturing cutting-edge thermal space coatings for the aerospace industry, government and commercial space programs, and satellite providers. The AMCL builds upon HII's six-decade legacy of innovation in supporting NASA, the U.S. Department of Defense, and other space sector partners.

The new 13,250-square-foot facility replaces the previous AMCL in Chicago and is equipped with advanced chemical laboratory technology. It will enable HII's team to expand their specialty coating research and manufacturing into other DOD applications. The lab's expertise has contributed to various space missions, including NASA's Orbiter, Apollo missions, and missions to Jupiter and Mars.

HII's Mission Technologies division has been awarded a $458 million contract to modernize communications and IT networks for the U.S. government. The task order aims to enhance system hardening against cyber threats, introduce new capabilities, and enable cloud migration. These improvements will support U.S. Department of Defense service components and the U.S. Special Operations Command with IT services and solutions for warfighters.

The project will utilize model-based systems engineering to focus on communication hardware prototyping, waveform development, mobile ad-hoc network aerial relay solutions, payloads, and deployable communication kits. HII will also support spectrum and bandwidth management and develop capabilities to modernize communications and data analytics at the tactical edge. The task order has a five-year term and was awarded under the Department of Defense's Information Analysis Center Multiple Award Contract (MAC) vehicle.

HII's Ingalls Shipbuilding division has been awarded a $9.6 billion multi-ship procurement contract for the construction of three San Antonio-class (LPD 17) amphibious ships and a contract modification for the next America-class (LHA 6) large-deck amphibious ship. This combined procurement, a first for amphibious ships, covers the construction of LPDs 33, 34, 35, and LHA 10 for the U.S. Navy.

Ingalls President Kari Wilkinson emphasized the stability this award provides to shipbuilders and surrounding communities. The contract supports the Navy and Marine Corps' goal of meeting the minimum 31-amphibious-ship requirement. Approximately half of Ingalls shipbuilders work on amphibious ships, with 650 supplier partners across 39 states contributing components.

To date, Ingalls has delivered 13 San Antonio-class ships and 15 large-deck amphibious ships to the U.S. Navy. The company is currently constructing several other amphibious ships, including Bougainville (LHA 8), Fallujah (LHA 9), Harrisburg (LPD 30), and Pittsburgh (LPD 31).

HII (NYSE: HII), a global all-domain defense provider, has announced that Steve Powell will become the company's next corporate vice president and treasurer, effective Jan. 1, 2025. Powell, currently HII's assistant treasurer for banking and capital markets, will succeed D.R. "Rick" Wyatt, who is retiring after over 40 years of service. In his new role, Powell will be responsible for various financial aspects of the company, including banking, corporate finance, cash management, insurance, and pension trust asset management.

Powell has been with HII's Treasury Department since 2011 and previously worked at Lockheed Martin and Martin Marietta. He holds a bachelor's degree in chemistry with concentrations in finance, business & economics from St. Lawrence University and an MBA from Virginia Tech. Powell will report directly to Executive Vice President and CFO Tom Stiehle.

HII's Mission Technologies division has delivered two REMUS 620 uncrewed underwater vehicles (UUVs) to the National Oceanic and Atmospheric Administration (NOAA) for enhanced ocean floor mapping. The delivery comes less than 24 months after the REMUS 620's unveiling in November 2022. These medium-class UUVs are designed for long-distance operations with above- and below-water capabilities.

The NOAA REMUS 620 vehicles feature customized enhancements including a synthetic aperture sonar module, additional energy module, and auxiliary equipment. NOAA plans to use them for high-resolution mapping in the Gulf of Mexico, focusing on restoring seafloor habitats damaged by the 2010 Deepwater Horizon oil spill.

HII reports strong market interest in the REMUS 620, with over 600 REMUS UUVs sold globally across 30+ countries. Notably, 90% of vehicles delivered in the past 23 years remain operational, showcasing the platform's durability and upgradability.