NEWPORT NEWS, Va., April 03, 2024 (GLOBE NEWSWIRE) -- Through sponsorships, presentations, interactive demonstrations, advertising, and displays, HII (NYSE:HII) will showcase the company's success in delivering the advantage to national and international sea service customers at the annual Navy League Sea-Air-Space Global Maritime Expo 2024. Attendees of the three-day expo will be encouraged to learn about HII's platforms, technologies, and solutions that support HII's growing strength as the nation's large ...

Huntington Ingalls Industries, Inc. (NYSE:HII) Q4 2023 Earnings Conference Call February 1, 2024 9:00 AM ET Company Participants Christie Thomas - VP of IR Christopher Kastner - President and CEO Thomas Stiehle - EVP and CFO Conference Call Participants Myles Walton - Wolf Research Gautam Khanna - TD Cowen Seth Seifman - JPMorgan Scott Deuschle - Deutsche Bank David Strauss - Barclays Pete Skibitski - Alembic Global Ronald Epstein - Bank of America Noah Poponak - Goldman Sachs George Shapiro - Shapiro Resea ...

Cybersecurity Threats - Company faces significant cyber security threats, including advanced nation-state actors and ransomware, which could disrupt operations and compromise sensitive information[137] - As of the report date, no cybersecurity threats have materially affected the company, but the increasing sophistication of cyber threats poses ongoing risks[194] Contract and Cost Recovery - Company's ability to recover costs and realize profits depends on contract types (firm fixed-price, fixed-price incentive, cost-type, or time and material) with U.S. Government customers[110] - Company's procurement practices may be affected by changes in U.S. Government contract terms, including incentive-based fee arrangements and cost mandates, impacting profitability[95] Workforce and Specialized Skills - Company's reliance on qualified personnel with specialized skills, including engineering and cybersecurity, is critical to operational performance[116] - Company's suppliers and subcontractors face challenges due to COVID-19, including workforce issues, material shortages, and higher prices, impacting timely delivery and costs[134] Shipbuilding and Fleet Size - U.S. Navy fleet size reduced from 566 ships in 1989 to 291 ships as of December 31, 2023, leading to workforce reductions and intense competition for future shipbuilding programs[99] - Company's shipbuilding programs are subject to potential adverse effects if U.S. Government-owned shipyards invest in refueling nuclear-powered aircraft carriers[101] - The company's Pascagoula shipyard facilities are located on approximately 800 acres, with a 99-year lease, and are expected to remain in use for at least 43 more years[196] - The Newport News shipyard, one of the largest in the U.S., spans approximately 550 acres and includes extensive manufacturing and training facilities[198] Financial and Market Risks - Company's goodwill and purchased intangible assets accounted for approximately 23% and 8%, respectively, of total assets as of December 31, 2023[144] - Company's pension risk transfer transactions using group annuity contracts (GACs) may require additional contributions or result in noncash settlement charges[128] - The company is highly susceptible to claims and litigation, which could result in material cash payments or charges against operating income, potentially impacting financial position, results of operations, or cash flows[162] - Market volatility and adverse capital market conditions may affect the company's ability to access cost-effective funding and expose it to risks related to supplier and subcontractor financial viability[175] - The company is exposed to market risks, including interest rates and inflation[339] Intellectual Property and Acquisitions - The company relies on third-party intellectual property licenses, and there is a risk of being unable to secure necessary licenses on commercially reasonable terms in the future[167] - The company faces challenges in completing and integrating acquisitions, which could lead to unanticipated costs, liabilities, and adverse effects on business and results of operations[178] Climate Change and Compliance Costs - Company's operations and compliance costs may increase due to climate change regulations, including greenhouse gas emissions and energy taxes[154] Business Segments and Operations - As of December 31, 2023, the company's major operations are spread across multiple locations in the U.S., supporting various business segments including C5ISR, CEW&S, LVC, Fleet sustainment, Unmanned Systems, and Nuclear and Environmental Services[200]

1 Non-GAAP measure. See appendix for definition and reconciliation. Shipbuilding operating margin is defined as the combined segment operating income of our Newport News Shipbuilding segment and Ingalls Shipbuilding segment as a percentage of shipbuilding revenue. Mission Technologies EBITDA is defined as Mission Technologies segment operating income before interest expense, income taxes, depreciation and amortization. Shipbuilding revenue is defined as the combined sales and service revenues from our Newpo ...

Huntington Ingalls Industries, Inc. (NYSE:HII) Q3 2023 Earnings Call November 2, 2023 9:00 AM ET Company Participants Christie Thomas - Vice President of Investor Relations Christopher D. Kastner - President and Chief Executive Officer Thomas E. Stiehle - Executive Vice President and Chief Financial Officer Conference Call Participants Scott Deuschle - Deutsche Bank Josh Corn - Barclays Doug Harned - Bernstein Jordan Lyonnais - Bank of America George Shapiro - Shapiro Research Seth Seifman - JP Morgan Gauta ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________ FORM 10-Q ______________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from ________ to ________ ...

Cautionary Statement Regarding Forward-looking Statements Statements in this presentation, other than statements of historical fact, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," and similar words or phrases or the negative of these words ...

HII Q2 2023 Earnings August 3, 2023 Tom Stiehle Executive Vice President and Chief Financial Officer Statements in this presentation, other than statements of historical fact, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," and similar word ...

Financial Data and Key Metrics Changes - The company reported a revenue of $2.8 billion for Q2 2023, representing a 4.7% increase from Q2 2022 [38] - Diluted earnings per share decreased to $3.27 from $4.44 in the same quarter last year [44] - Operating income for the quarter was $156 million, down 18% from the previous year [44] Business Line Data and Key Metrics Changes - At Newport News, revenues increased by 5.3% to $1.5 billion, driven by growth in aircraft carrier and submarine construction [46] - Mission Technologies achieved record revenue of $645 million, a 7.5% increase year-over-year, but operating income decreased to $9 million from $25 million due to non-recurring income in the previous year [40][47] Market Data and Key Metrics Changes - The backlog at the end of the quarter was approximately $47 billion, with $24 billion currently funded [38] - New contract awards during the quarter were approximately $2.6 billion [38] Company Strategy and Development Direction - The company is focused on executing its shipbuilding backlog and expanding Mission Technologies, which is seen as a foundation for future growth [43] - There is strong bipartisan support for shipbuilding programs in Congress, which is expected to benefit the company [41] Management's Comments on Operating Environment and Future Outlook - Management highlighted labor as the greatest risk to meeting operational targets, despite hiring over 3,200 craftsmen in the first half of the year [66] - The company expects shipbuilding revenue to be approximately $2.1 billion in Q3, with an operating margin consistent with Q2 results [50] Other Important Information - The company reaffirmed its free cash flow guidance for 2023, expecting $400 million to $450 million [49] - Cash from operations was $82 million in the quarter, down from $267 million in Q2 2022 [48] Q&A Session Summary Question: What are the risks associated with the VCS program? - Management indicated that labor is the largest obstacle, but they are ahead of hiring plans [55] Question: How does the relationship with Electric Boat affect operations? - Management stated that there is no significant difference in operations between the Virginia class and Columbia class programs [79] Question: Can you provide insights on hiring and retention? - Management noted that while hiring is improving, retention remains a challenge, particularly with walk-in applicants [154] Question: What is the impact of the Kennedy contract modification? - Management expressed confidence in the Kennedy project, stating that the modification has integrated well into the baseline schedule [102] Question: How is the company addressing the challenges in Mission Technologies? - Management acknowledged that the majority of contracts are cost-plus, but they are pursuing fixed-price opportunities to improve margins [92]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________ FORM 10-Q ______________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of principal executive offices and zip code) ☐ (75 ...