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Huntington Ingalls Industries. Huntington Ingalls Industries, Inc. ( HII) is the largest military shipbuilding company in the United States as well as a provider of professional services to partners in government and industry. HII, ranked No. 375 on the Fortune 500, was formed on 31 March 2011, as a divestiture from Northrop Grumman. [5] [6]
Huntington Ingalls' (HII) Q1 results are likely to reflect lower amphibious assault ships program volumes. However, growth from submarine programs must have boosted growth.
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Huntington Ingalls' (HII) second-quarter earnings and revenues are better than expected. Courtesy of strong order flow, the company continues to exit each quarter with a strong backlog.
Career. Petters assumed his role as president and CEO on March 31, 2011. He is also a member of the Huntington Ingalls Industries board of directors. From 2008 until his appointment in 2011, he was the president of Northrop Grumman Shipbuilding. Prior to this position, he was the president of Northrop Grumman's Newport News sector.
In the 1950s, Ingalls started bidding on Navy work, winning a contract in 1957 to build 12 nuclear-powered attack submarines. Litton Industries acquired Ingalls in 1961, and in 1968, expanded its facilities to the other side of the river. Ingalls reached a high point of employment in 1977, with 27,280 workers.
Huntington Ingalls (HII) Q1 total revenues of $2,576 million surpass the Zacks Consensus Estimate by 1.7% and also increase 13.1%.
Huntington Ingalls' (HII) top line grows 8.8% year over year in the first quarter, driven primarily by higher volumes at its Newport News and Ingalls shipbuilding divisions.