HII Secures $65 Million Contract for Joint Warfighting Development Support

HII is Awarded $65 Million Contract to Support Joint Warfighting Development - Huntington Ingalls Indus (NYSE:HII)

MCLEAN, Va., July 23, 2024 (GLOBE NEWSWIRE) -- HII's Mission Technologies division was awarded a $65 million task order to perform high-quality, specialized research and analysis for the Joint Staff J7, Deputy Director, Joint Warfighting Development. HII will support research and analysis in three areas. The first will focus on futures and concepts, to include developing a comprehensive view of the future operating environment. The second will focus on joint experimentation, to include informing and facilitating joint war gaming and integrated learning opportunities. The third will focus on wargaming for the Joint Staff J4 Logistics enterprise. "HII's live, virtual, constructive solutions prepare warfighters for cross-domain battle," said Andy Green, executive vice president of HII and president of HII's Mission Technologies division. "We are thrilled to expand on our existing relationship with the Joint Staff J7 and J4 to further support their mission of achieving overmatch in the changing conditions of war." Brian Teer, acting president of Mission Technologies' LVC Solutions business group, said HII will leverage its ongoing work in the Joint Training Synthetic Environment. "HII will support the government lead in the development, experimentation and socialization of futures, joint concepts that address emerging and future joint operational challenges," Teer said. "We look forward to working with the Joint Staff, combatant commands and military branches to create the advantage for the Joint Force now and in the future." An image accompanying this release is available at: https://hii.com/news/hii-is-awarded-65-million-contract-to-support-joint-warfighting-development/. HII was awarded the task order under the Department of Defense's Information Analysis Center (IAC) Multiple Award Contract (MAC) vehicle. IAC MAC task orders are awarded by the U.S. Air Force's 774th Enterprise Sourcing Squadron to support the development and creation of new knowledge for the enhancement of the Defense Technical Information Center repository and the research and development and science and technology community. About J-7 and J-4 The J-7 supports the Chairman Joint Chiefs of Staff (CJCS) and the joint warfighter through Joint Force Development (JFD) in order to advance the operational effectiveness of the current and future joint force. Joint Staff J-7 performs its duties across the spectrum of joint force development. Its mission is to train, educate, develop, design and adapt the globally integrated, partnered Joint Force to achieve overmatch in the continuum of conflict under conditions of accelerating change in the character of war. Logistics are key to any JFD effort. About HII HII is a global, all-domain defense provider. HII's mission is to deliver the world's most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world. As the nation's largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. Headquartered in Virginia, HII's workforce is 44,000 strong. For more information, visit: HII on the web: https://www.HII.com/HII on Facebook: https://www.facebook.com/TeamHIIHII on X: https://www.x.com/wearehiiHII on Instagram: https://www.instagram.com/WeAreHII The DoD IAC, sponsored by the Defense Technical Information Center, provides technical data management and research support for DoD and federal government users. Established in 1946, the IAC program serves the DoD science and technology and acquisition communities to drive innovation and technological developments by enhancing collaboration through integrated scientific and technical information development and dissemination for the DoD and broader science and technology community. This material is based upon work supported by the DoD Information Analysis Center Program (DoD IAC), sponsored by the Defense Technical Information Center (DTIC) under Contract No. FA807518D0002. Approved for Public Release, Distribution Unlimited. Any opinions, findings and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the DoD. Greg McCarthy (202) 264-7126 [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/891d400f-a340-4082-b2c1-5957fffb1cd6 Market News and Data brought to you by Benzinga APIs

HII is Awarded $65 Million Contract to Support Joint Warfighting Development

MCLEAN, Va., July 23, 2024 (GLOBE NEWSWIRE) -- HII's Mission Technologies division was awarded a $65 million task order to perform high-quality, specialized research and analysis for the Joint Staff J7, Deputy Director, Joint Warfighting Development. HII will support research and analysis in three areas. The first will focus on futures and concepts, to include developing a comprehensive view of the future operating environment. The second will focus on joint experimentation, to include informing and facilitating joint war gaming and integrated learning opportunities. The third will focus on wargaming for the Joint Staff J4 Logistics enterprise. "HII's live, virtual, constructive solutions prepare warfighters for cross-domain battle," said Andy Green, executive vice president of HII and president of HII's Mission Technologies division. "We are thrilled to expand on our existing relationship with the Joint Staff J7 and J4 to further support their mission of achieving overmatch in the changing conditions of war." Brian Teer, acting president of Mission Technologies' LVC Solutions business group, said HII will leverage its ongoing work in the Joint Training Synthetic Environment. "HII will support the government lead in the development, experimentation and socialization of futures, joint concepts that address emerging and future joint operational challenges," Teer said. "We look forward to working with the Joint Staff, combatant commands and military branches to create the advantage for the Joint Force now and in the future." An image accompanying this release is available at: https://hii.com/news/hii-is-awarded-65-million-contract-to-support-joint-warfighting-development/. HII was awarded the task order under the Department of Defense's Information Analysis Center (IAC) Multiple Award Contract (MAC) vehicle. IAC MAC task orders are awarded by the U.S. Air Force's 774th Enterprise Sourcing Squadron to support the development and creation of new knowledge for the enhancement of the Defense Technical Information Center repository and the research and development and science and technology community. About J-7 and J-4 The J-7 supports the Chairman Joint Chiefs of Staff (CJCS) and the joint warfighter through Joint Force Development (JFD) in order to advance the operational effectiveness of the current and future joint force. Joint Staff J-7 performs its duties across the spectrum of joint force development. Its mission is to train, educate, develop, design and adapt the globally integrated, partnered Joint Force to achieve overmatch in the continuum of conflict under conditions of accelerating change in the character of war. Logistics are key to any JFD effort. About HII HII is a global, all-domain defense provider. HII's mission is to deliver the world's most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world. As the nation's largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. Headquartered in Virginia, HII's workforce is 44,000 strong. For more information, visit: The DoD IAC, sponsored by the Defense Technical Information Center, provides technical data management and research support for DoD and federal government users. Established in 1946, the IAC program serves the DoD science and technology and acquisition communities to drive innovation and technological developments by enhancing collaboration through integrated scientific and technical information development and dissemination for the DoD and broader science and technology community. This material is based upon work supported by the DoD Information Analysis Center Program (DoD IAC), sponsored by the Defense Technical Information Center (DTIC) under Contract No. FA807518D0002. Approved for Public Release, Distribution Unlimited. Any opinions, findings and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the DoD. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/891d400f-a340-4082-b2c1-5957fffb1cd6

HII secures $65 million defense research task order By Investing.com

MCLEAN, Va. - HII's Mission Technologies division has secured a $65 million task order to conduct specialized research and analysis for the Joint Staff J7, Deputy Director, Joint Warfighting Development. This task order will support the Joint Staff in three primary areas, including developing insights into the future of warfare, advancing joint war gaming efforts, and enhancing the Joint Staff J4 Logistics enterprise's wargaming capabilities. The company's executive vice president and president of Mission Technologies, Andy Green, expressed enthusiasm about expanding their support for the Joint Staff's mission to maintain a competitive edge in evolving war conditions. Brian Teer, acting president of Mission Technologies' Live, Virtual, Constructive (LVC) Solutions business group, highlighted HII's commitment to leveraging their work in the Joint Training Synthetic Environment to address future joint operational challenges. HII's task order was awarded under the Department of Defense's Information Analysis Center Multiple Award Contract (MAC) vehicle, managed by the U.S. Air Force's 774th Enterprise Sourcing Squadron. The IAC MAC task orders aim to enhance the Defense Technical Information Center repository and support the broader research and development community within the DoD. The J-7 division is dedicated to advancing the operational effectiveness of the current and future joint force, while the J-4 division focuses on the crucial role of logistics in Joint Force Development. HII, a leading defense provider with a workforce of 44,000, is known for its contributions to national security, including shipbuilding and all-domain solutions. This contract aligns with HII's role in delivering capabilities that extend from shipbuilding to cyber, intelligence, surveillance, reconnaissance (ISR), artificial intelligence/machine learning (AI/ML), and synthetic training. The company's efforts are geared towards equipping the U.S. military with the necessary tools to maintain peace and freedom globally. The information reported is based on a press release statement from HII. In other recent news, Huntington Ingalls Industries (NYSE:HII) has been making significant strides. Citi has initiated coverage on the company with a Buy rating, citing robust revenue visibility and potential benefits from the AUKUS initiative. The firm also anticipates improvements in HII's earnings visibility and financial flexibility, with annual free cash flow expected to exceed $800 million in the coming years. Meanwhile, the U.S. Navy's transition to unmanned vessels is facing challenges, despite the Pentagon's Replicator program, aimed at deploying hundreds of air and sea drones. HII's president of unmanned systems, Duane Fotheringham, emphasized the industry's need for long-term funding to meet the Navy's demands. The Navy's contract with HII for the construction of nine small underwater drones as part of the Lionfish program indicates a growing commitment to unmanned technology. HII has also reported a robust first quarter in 2024, with record revenues of $2.8 billion and a healthy backlog. New contracts amounted to $3.1 billion, and Mission Technologies revenue hit $750 million, marking a 20% increase year-over-year. The company plans to buy back $300 million of shares by year-end. As HII continues to secure significant contracts and expand its support for the Department of Defense, the company's financial health and investment potential come into focus. According to InvestingPro data, HII boasts a market capitalization of $10.64 billion, reflecting its substantial presence in the defense sector. The company's commitment to shareholder returns is evident in its impressive track record of raising its dividend for 12 consecutive years, a testament to its financial stability and confidence in future growth. InvestingPro Tips highlight that HII has maintained dividend payments for 13 consecutive years, signaling a robust and reliable income stream for investors. Furthermore, the company is trading at a low P/E ratio relative to near-term earnings growth, with a current P/E ratio of 14.95 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 17.9. This combination of a strong dividend history and an attractive valuation metric suggests that HII may present a compelling opportunity for investors looking for both growth and income. In addition to these insights, InvestingPro users can discover more tips to help guide their investment decisions. With a perfect Piotroski Score of 9, HII demonstrates solid financial health and operational efficiency. However, it's important to note that the company does suffer from weak gross profit margins, which stand at 14.42% for the last twelve months as of Q1 2024. Despite this, analysts predict the company will be profitable this year, with profitability already established over the last twelve months. For those interested in a deeper analysis of HII and its investment prospects, InvestingPro offers additional tips and metrics. To access these valuable insights and make more informed investment decisions, consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. Visit https://www.investing.com/pro/HII for more details and to explore the full range of InvestingPro Tips -- there are currently 6 additional tips available for HII.