huntington ingalls industrie (HII) Key Developments
Huntington Ingalls Industries Announces Executive Changes
Nov 12 14
Huntington Ingalls Industries announced that Ray Bagley has been appointed vice president of trades operations at the company's Newport News Shipbuilding division. Most recently, he served as production director for in-service aircraft carriers. In his new position, Bagley will be responsible for production labor resources and processes, plant engineering and maintenance, waterfront support services, training, instructional design, and The Apprentice School. Bagley will assume his new position on Dec. 8, 2014 and transition into the job with the help of Danny Hunley, who will retire from the position on Dec. 31 after more than 40 years with the shipyard.
Huntington Ingalls Industries, Inc. Presents at Goldman Sachs Global Industrials Conference, Nov-13-2014 10:00 AM
Nov 8 14
Huntington Ingalls Industries, Inc. Presents at Goldman Sachs Global Industrials Conference, Nov-13-2014 10:00 AM. Venue: InterContinental, 510 Atlantic Ave., Boston, Massachusetts, United States. Speakers: Barbara A. Niland, Chief Financial Officer and Corporate Vice President of Business Management, C. Michael Petters, Chief Executive Officer, President and Director.
Huntington Ingalls Industries Announces Promotion of Glenn Morgan as Vice President
Nov 6 14
Huntington Ingalls Industries announced that Glenn Morgan has been promoted to vice president of nuclear materials operations for Savannah River Nuclear Solutions. Morgan previously served as director of reactor services engineering at Newport News Shipbuilding. In his new position, he is responsible for nuclear materials operations for the Savannah River Nuclear Solutions' management and operations contract, including plutonium oxide production, spent and unspent nuclear fuel processing, and disposition operations. He also serves as deputy for all Savannah River Nuclear Solutions' environmental management operations.
Huntington Ingalls Industries, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year 2014
Nov 6 14
Huntington Ingalls Industries, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total sales and service revenues were $1,717 million against $1,637 million a year ago. Operating income was $171 million against $127 million a year ago. The increase in operating income was primarily attributable to performance improvement and risk retirement at Ingalls Shipbuilding on the LPD-17 San Antonio class and a favorable FAS/CAS Adjustment, partially offset by the net favorable impact in the prior year of hurricane insurance recoveries and the closure of the Gulfport Composite Center of Excellence. Earnings before income taxes were $144 million against $99 million a year ago. Net earnings were $96 million against $69 million a year ago. Diluted earnings per share were $1.96 against $1.36 a year ago. Adjusted sales and service revenues were $1,717 million against $1,665 million a year ago. Adjusted operating income was $171 million against $98 million a year ago. Adjusted net earnings were $82 million against $59 million a year ago. Adjusted diluted earnings per share were $1.67 against $1.17 a year ago. Capital expenditures in the quarter were $40 million compared to $30 million in the same period last year.
For the nine months, the company reported total sales and service revenues were $5,030 million against $4,882 million a year ago. Operating income was $511 million against $338 million a year ago. Earnings before income taxes were $428 million against $251 million a year ago. Net earnings were $286 million against $170 million a year ago. Diluted earnings per share were $5.80 against $3.37 a year ago. Net cash provided by operating activities was $314 million against net cash used in operating activities of $56 million a year ago. Additions to property, plant, and equipment were $91 million against $85 million a year ago.
For the full year 2014, the company expects, capital expenditures are to be between 2% and 2.5% of sales, and effective tax rate to be between 33% and 34%.
Huntington Ingalls Industries, Inc. Announces Resignation of Artur Davis from the Board, Effective January 1, 2015
Nov 5 14
Huntington Ingalls Industries, Inc. announced that on November 2, 2014, Artur Davis, a director of the company, notified that he is resigning from the Board of Directors of the company, effective January 1, 2015.