Huntington Ingalls Industries, Inc.NYSE
Fri, Sep. 30, 7:46 AM
- The contract will include repairs for nuclear-powered submarines, special mission submersibles, moored training ships and submarine support facilities, the Pentagon said in a statement.
Thu, Sep. 29, 9:07 PM
- The U.S. Department of Defense will start a review next month of the U.S. Navy’s costliest warship - the aircraft carrier USS Gerald R. Ford, being built by Huntington Ingalls (NYSE:HII) - after resolving Navy objections to the inquiry aimed at determining why the ship has faced years of delay.
- The under secretary of defense for acquisition ordered the review in part to see what lessons can be learned for production of the two other ships to follow in the ship's class, but agreed to delay the review’s start by a month to settle a dispute with Navy officials who said the timing would be too disruptive.
- Separately, the DoD awards a $400M contract to HII to perform repairs for nuclear-powered submarines, special mission submersibles, moored training ships and submarine support facilities.
Thu, Aug. 4, 8:03 AM
- Net earnings of $133M, or $2.80 per diluted share vs. $156M, or $3.20 per diluted share in the same period a year ago.
- Revenue by segment: Ingalls Shipbuilding +7.1%; Newport News Shipbuilding -6.5%; Other -22.9%.
- New business awards for the quarter were approximately $900M, bringing total backlog to $20.5B as of June 30, 2016.
- Q2 results
Thu, Aug. 4, 7:21 AM
Wed, Aug. 3, 5:30 PM
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Wed, Jul. 27, 10:19 AM
Tue, Jul. 12, 2:32 PM
- The USS Gerald R. Ford, the new Navy aircraft carrier built by Huntington Ingalls (HII -0.4%) and the costliest U.S. warship at $12.9B, will not be delivered until at least November, more than two years late.
- "During the ongoing testing of developmental systems" on the carrier, “first-of-class issues are continuing to be resolved,” according to a Navy statement reported by Bloomberg.
- The Navy does not elaborate on the unresolved issues causing the delay except to say that testing is continuing for “the propulsion plant steam and electric systems,” which are powered by the carrier’s nuclear reactor.
- HII is performing well as the shipbuilder, the Navy says, as many of the technologies installed on the first-of-class carrier are produced by other companies.
Tue, May 24, 2:28 PM
- Huntington Ingalls (HII -2%) is lower after Stifel downgrades shares to Sell from Hold with a $135 price target, as the firm sees a disconnect between bulls who like HII because of its valuation gap with peers on a P/E basis and what free cash flow says shares are worth.
- Stifel says HII trades at a P/E discount because of lower margins vs. peers, flat sales and a less compelling outlook for EPS growth, and lower free cash flow conversion.
- The firm says it is unwarranted for HII shares to currently trade at a 15% premium to peers on a price to free cash flow basis.
Mon, May 23, 3:21 AM
- President Obama kicked off his three-day visit to Vietnam with an announcement declaring the end of a U.S. arms embargo on the country, a ban that had been in place for decades.
- "We've come here as a symbol of the renewed ties....and the comprehensive partnership we have created over the course of my presidency," Obama said at a press conference.
- The trip will also see the nations discuss the Trans-Pacific Partnership, which is expected to usher in a new period of growth for export-oriented Vietnam.
- Related tickers: GD BA, NOC, LMT, RTN, OA, HII, HON, UTX, OTCPK:EADSF, ITT, TXT, LLL, OTCPK:BAESY, OTCPK:FINMY, COL
- ETFs: VNM
Thu, May 5, 9:20 AM
- Net earnings of $136M, or $2.87 per diluted share vs. $87M, or $1.79 per diluted share in the same period a year ago.
- Revenue by segment: Ingalls Shipbuilding +24.9%; Newport News Shipbuilding +8.7%; Other -40%.
- New business awards for the quarter were approximately $1B, bringing total backlog to $21.3B as of March 31, 2016.
- Q1 results
Thu, May 5, 7:18 AM
- Huntington Ingalls (NYSE:HII): Q1 EPS of $2.87 beats by $0.74.
- Revenue of $1.76B (+12.1% Y/Y) beats by $170M.
Wed, May 4, 5:30 PM
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Fri, Apr. 29, 11:23 AM
- Huntington Ingalls (NYSE:HII) declares $0.50/share quarterly dividend, in line with previous.
- Forward yield 1.38%
- Payable June 10; for shareholders of record May 27; ex-div May 25.
Wed, Apr. 6, 7:15 PM
- The U.S. Navy will seek $81.4B to buy 38 warships, submarines and support vessels in the next five years, Bloomberg reports.
- The new plan provides some reassurance for the likes of Huntington Ingalls (NYSE:HII), General Dynamics (NYSE:GD) and Lockheed Martin (NYSE:LMT), as well as investors and analysts who follow shipbuilding companies and their subcontractors such as Raytheon (NYSE:RTN), which specializes in maritime combat electronic systems and self-defense systems.
- The plan proposes bankrolling one new frigate each in FY 2019 and 2020 and two in 2021, for a total of $3B; The Navy plans to hold a competition for the frigate program, selecting between LMT and Austal (OTCPK:AUTLF), which both currently build versions of the Littoral Combat Ship.
- The plan also updates funds earmarked to start work on replacing the Ohio-class nuclear missile submarine, forecasting $9.25B in spending through FY 2021; the Navy last week named GD as the prime contractor, with HII the subcontractor.
Wed, Mar. 30, 8:14 AM
- Huntington Ingalls (NYSE:HII) CEO Mike Petters is pushing the U.S. Navy to accelerate its new LX((NYSE:R)) dock landing ship program to fiscal 2018 from 2020 to avoid significant costs associated with restarting a production line.
- The gap would occur when building of the LPD-28 warship ends about two years before the LX(R) is due to start.
Tue, Mar. 29, 8:00 AM
- The plan calls for General Dynamics (NYSE:GD) to be the prime contractor and lead design and delivery of 12 new Ohio-class replacement submarines that will carry nuclear ballistic missiles.
- Huntington Ingalls (NYSE:HII) will be a major supplier under the contract, working on design and construction of major assemblies and modules.