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Huntington Ingalls Industries Inc   (HII)
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    Sector  Capital Goods    Industry Ship & Boat Building

Huntington Ingalls Industries Inc 's

Competitiveness


 

HII Sales vs. its Competitors Q4 2023



Comparing the current results to its competitors, Huntington Ingalls Industries Inc reported Revenue increase in the 4 quarter 2023 by 12.98 % year on year.
The sales growth was above Huntington Ingalls Industries Inc 's competitors' average revenue growth of 7.54 %, achieved in the same quarter.

List of HII Competitors

With a net margin of 8.62 % Huntington Ingalls Industries Inc achieved higher profitability than its competitors.

More on HII Profitability Comparisons



Revenue Growth Comparisons




Net Income Comparison


Huntington Ingalls Industries Inc Net Income in the 4 quarter 2023 grew year on year by 122.76%, while most of its competitors have experienced a contraction in net income by -76.71 %.

<<  HII Stock Performance Comparisons


Huntington Ingalls Industries Inc 's Comment on Competitors and Industry Peers


In our primary business of designing, building, overhauling, and repairing military ships, we primarily compete with General Dynamics and, to a lesser extent, smaller shipyards, one or more of which could team with a large defense contractor. Intense competition related to programs, resources and funding, and long operating cycles are key characteristics of both our business and the shipbuilding defense industry in general. It is common industry practice to share work on major programs among a number of companies. A company competing to be a prime contractor may, upon ultimate award of the contract to another party, become a subcontractor for the prime contracting party. It is not uncommon to compete for a contract award with a peer company and, simultaneously, perform as a supplier to or a customer of such competitor on other contracts. The nature of major defense programs, conducted under binding contracts, allows companies that perform well to benefit from a level of program continuity not common in many industries.

We believe we are well-positioned in the market. Because we are the only company currently capable of building, refueling and defueling the U.S. Navys nuclear-powered aircraft carriers, we believe we are in a strong competitive position to be awarded each contract to perform such activities. Even so, the government periodically revisits whether refueling of nuclear-powered aircraft carriers should be performed in private or public facilities. In this regard, the National Defense Authorization Act for Fiscal Year 2012 ("2012 Act") required DoD to develop a core depot level maintenance capability to refuel nuclear aircraft carriers. The National Defense Authorization Act for Fiscal Year 2013 ("2013 Act") modified the 2012 Act by restoring an exception for the nuclear refueling of an aircraft level maintenance. The 2013 Act also amended and clarified the exception to cover the concurrent refueling and overhaul of an aircraft carrier, as well as the defueling of an aircraft carrier. Similarly, the 2013 Act restored an exclusion for nuclear aircraft carrier programs from the definition of core logistics capabilities that was found in previous law.

We are currently the only builder of large deck amphibious assault and expeditionary warfare ships for the U.S. Navy, including LHAs and LPDs, and are positioned to be awarded future contracts for these types of vessels. We are also the sole supplier of NSCs for the U.S. Coast Guard, and are positioned to be awarded future contracts for these types of vessels. We are one of only two companies currently designing and building nuclear-powered submarines for the U.S. Navy, and we are party to a long-term teaming agreement with the other company for the production of such vessels. We are one of only two companies that builds the U.S. Navys current fleet of DDG-51 Arleigh Burke-class destroyers and are positioned to be awarded future contracts for these types of ships as well.

Our success in the shipbuilding defense industry depends upon our ability to develop, market and produce our products and services at a cost consistent with the U.S. Navys budget, as well as our ability to provide the workforce, technologies, facilities, equipment and financial capacity needed to deliver those products and services with maximum efficiency.

We compete with a variety of companies in the provision of engineering services in the energy and oil and gas markets.





  

Overall company Market Share Q4 2023

Huntington Ingalls Industries Inc achieved revenue growth of 12.98 % in Overall company, and improved market share, to approximately 12.47 %.


<<  More on HII Market Share.
 
*Market share is calculated based on total revenue.

  News about Huntington Ingalls Industries Inc Contracts

Huntington Ingalls Industries (HII) Thrives in Shipbuilding and Data Solutions, Launches Virginia-class Submarine Massachusetts and Achieves Authority to Operate Status

Huntington Ingalls Industries (HII) Making Waves in Shipbuilding and Data SolutionsHuntington Ingalls Industries (HII), one of the largest shipbuilding companies in the United States, has recently achieved significant milestones in both its shipbuilding operations and its data solutions subsidiary. With the successful launch of the Virginia-class submarine Massachusetts (SSN 798) at its Newport News Shipbuilding (NNS) division, HII proves its commitment to cutting-edge advancements in naval technology. Additionally, the company's Enlighten subsidiary played a crucial role in the U.S. Coast Guard's Integrated Data Environment, achieving the prestigious Authority to Operate status. These achievements demonstra...

Huntington Ingalls Industries Inc Completes Successful Builders Sea Trials for Richard M. McCool Jr.

Huntington Ingalls Industries Inc's Ingalls Shipbuilding division has recently concluded the builders sea trials for its amphibious transport dock ship, Richard M. McCool Jr. (LPD 29). The vessel underwent comprehensive testing of all systems in the Gulf of Mexico, marking a significant milestone in its journey towards final delivery in the upcoming spring. This achievement comes amidst financial reports indicating the company's revenue growth slightly below its competitors but a higher profitability margin.Builders Sea Trials for Richard M. McCool Jr.:On February 1, 2024, Huntington Ingalls Industries Inc's Ingalls Shipbuilding division announced the successful completion of builders sea trials for the amph...

Huntington Ingalls Industries (HII) Secures Advanced Planning Contract for USS Harry S. Truman Overhaul, Demonstrating Growth and Market Resilience

Huntington Ingalls Industries (HII) Awarded Advanced Planning Contract for USS Harry S. Truman Refueling and OverhaulNEWPORT NEWS, Va., Jan. 26, 2024 - In a significant development for Huntington Ingalls Industries (HII), its Newport News Shipbuilding (NNS) division has been awarded an advanced planning contract for the refueling and complex overhaul (RCOH) of the renowned nuclear-powered aircraft carrier USS Harry S. Truman (CVN 75). This contract reflects HII's leading position in the shipbuilding industry and its ongoing commitment to maintaining the highest standards of excellence in naval engineering.The refueling and overhaul of the USS Harry S. Truman is a complex and crucial process that ensures the ...

Huntington Ingalls Industries Inc. Hosts Assistant Secretary of the Navy and Sustains Strong Growth Amidst Competitors

HII Hosts Assistant Secretary of the Navy at Newport News ShipbuildingNEWPORT NEWS, Va., Jan. 25, 2024 ?? Huntington Ingalls Industries Inc. (HII) recently welcomed Assistant Secretary of the Navy for Research, Development, and Acquisition, Nickolas Guertin, to its Newport News Shipbuilding division. In a testament to their ongoing commitment to excellence, this visit signifies the esteemed reputation that HII holds within the naval industry.Comparing the current results to its competitors, HII boasted a remarkable 7.24% year-on-year increase in revenue during the third quarter of 2023. While this growth marginally falls short of the average revenue growth of HII's competitors, standing at 7.34% for the same...

HII Solidifies Community Presence Amid Positive Q3 Financial Outlook, Contrary to Rival Trends


Huntington Ingalls Industries (NYSE: HII) is not just de...

Huntington Ingalls Industries' Expansion and Steady Growth Highlight Positive Outlook



In recent news, Huntington Ingalls Industries (HII) has made significant strides towards more effective and efficient shipbuilding by opening a new production site in Norfolk. Concurrently, HII has reported a commendable revenue increase in Q3 2023, although slightly below the average growth of its competitors. In terms of net income, the company has exhibited a positive performance, bucking the trend seen among its industry rivals. This article will delve into these developments and assess their impact on HII's growth trajectory.

HII's Newport News Shipbuilding division, a dominant player in the shipbuilding industry, has made an exciting move by establishing an additional campus in Norfo...

Newport News Shipbuilding Sets Sail Towards Success: Transforming Communities and Surpassing Competitors



In an era where skilled labor is in high demand, HIIs (NYSE: HII) Newport News Shipbuilding division has successfully addressed this challenge by accelerating its workforce development initiatives. Through proactive community engagement and dynamic on-site hiring events, Newport News Shipbuilding continues to meet the growing demand for skilled trades positions. This article delves into the company's progress in tackling the labor shortage and highlights their recent achievements against competitors, such as Huntington Ingalls Industries Inc.
Addressing the Skilled Labor Shortage:
With the rising demand for skilled trades positions, Newport News Shipbuilding has recognized the pressing need...





Who are Huntington Ingalls Industries Inc 's Competitors?




General Dynamics Corporation
Share Performance



-0.18%
Over The Past 5 Days



General Dynamics Corporation
Profile

General Dynamics Corporation's business model revolves around being a leading global aerospace and defense company. It focuses on providing technologically advanced products, services, and solutions to customers in the defense, government, and commercial sectors. The company's business model includes various segments such as aviation, land systems, shipbuilding, and mission systems, with a strong emphasis on innovation and customer satisfaction.

More about General Dynamics Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 75,359.713 mill. $ 42,272.000 mill. $ 3,315.000 mill.


Gulf Island Fabrication Inc
Share Performance



+17.58%
This Quarter



Gulf Island Fabrication Inc
Profile

Gulf Island Fabrication Inc's business model focuses on providing fabrication, maintenance, and construction services to the energy industry, particularly the offshore oil and gas sector.

More about Gulf Island Fabrication Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 80.644 mill. $ 142.909 mill. $ -30.943 mill.


The Manitowoc Company Inc
Share Performance



-17.12%
30 Days



The Manitowoc Company Inc
Profile

The Manitowoc Company Inc operates in the manufacturing industry, specializing in heavy machinery and equipment.

More about The Manitowoc Company Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 498.881 mill. $ 2,252.700 mill. $ -97.000 mill.


Northrop Grumman Corp
Share Performance



-2.23%
This Quarter



Northrop Grumman Corp
Profile

Northrop Grumman Corp is a global aerospace and defense company that operates through multiple segments, including Aerospace Systems, Mission Systems, and Technology Services. The company focuses on designing, developing, and delivering a wide range of innovative technologies and solutions to customers in the defense, intelligence, and commercial sectors. Through collaboration and expertise in advanced technologies, Northrop Grumman aims to provide cutting-edge capabilities for a safer and more secure world.

More about Northrop Grumman Corp's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 70,055.959 mill. $ 39,290.000 mill. $ 2,056.000 mill.



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