Huntington Ingalls Industries (HII) announced several significant developments, including: a leadership reshuffle for Newport News Shipbuilding, where
Kari Wilkinson was appointed its head. The company also struck a deal in supporting the production of
Lionfish SUUV. Furthermore, HII is engaged in a defense industry supply chain uplift program and is under scrutiny regarding a fraud investigation by the Schall Law Firm. Meanwhile, the company continues its expansion and innovation efforts, as demonstrated by strategic leadership appointments in Australia aligned with
AUKUS objectives, acquiring a South Carolina metal fabricator's assets, and opening an additional site in Norfolk. However, financial performance reports indicate missed earnings estimates and a reduction in the 2024 revenue outlook due to a Navy deal, labor issues and Q3 earnings decline Y/Y. Despite this, HII reportedly commands a sizeable backlog in shipbuilding defense projects, suggesting potential growth. Several law firms have announced investigations into HII on behalf of its investors. Huntington Ingalls has also been subject to brokerage downgrades and faces challenges in terms of quality issues related to bad welding.
Huntington Ingalls Industries HII News Analytics from Sun, 03 Apr 2022 16:12:15 GMT to Thu, 26 Dec 2024 12:49:00 GMT -
Rating -4
- Innovation 3
- Information 5
- Rumor -2
