LONDON, UK / ACCESSWIRE / February 21, 2018 / Active-Investors.com has just released a free research report on Huntington Ingalls Industries, Inc. (NYSE: HII) ("HII"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HII as the Company's latest news hit the wire. On February 16, 2018, the Company, which is America's largest military shipbuilding Company and a provider of professional services to partners in government and industry, declared that its Ingalls Shipbuilding division was given a $1.43 billion, fixed-price incentive contract for the detail design and construction of LPD 29, the 13th of the San Antonio-class of ships. Register today and get access to over 1000 Free Research Reports by joining our site below:
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The San Antonio-Class of Ships
The San Antonio-class of ships form a major part of the Navy's 21st century amphibious assault force. They are about 684-foot-long and 105-foot-wide. They are widely used to embark and land marines and their equipment and supplies, with air cushion or conventional landing craft and amphibious assault vehicles. They can even accommodate helicopters, or vertical takeoff, and landing aircraft such as the MV-22 Osprey.
These ships have helped the Marine Air Ground Task Force with a wide range of operations, such as conducting amphibious and expeditionary missions of sea control and power projection to humanitarian assistance and disaster relief missions during the first half of the 21st century.
LPD, the 13th San Antonio-Class Ship
- Up till now, HII has built and delivered 11 San Antonio-class ships.
- The 11th, Portland (or LPD 27), will be commissioned on April 21, 2018, in Portland, Oregon, whereas the 12th, Fort Lauderdale, is under construction. HII expects Fort Lauderdale to launch in the first quarter of 2020.
- LPD is the 13th San Antonio-class amphibious transport dock. The preliminary work on LPD 29 has already begun and the fabrication is expected to start in the latter half of 2018. The Company intends to complete the work on the design and construction of LPD 29 by July 2023.
Contract Builds on LPD team's Remarkable Work
Brian Cuccias, the President at Ingalls Shipbuilding, believes that this contract highlights the confidence that the Navy/Marine Corps team has in the outstanding work done by HII's shipbuilders in the LPD program. Their credibility is further validated by the Company's hot production line, which is keeping the work going in the shipyard, and through its nationwide network of suppliers. HII is pleased to build this additional ship, and to offer sailors and Marines with the best amphibious ships in the world.
HII Reported Fourth Quarter and Full Year 2017 Results
HII reported its fourth quarter (Q4 FY17) and full fiscal year 2017 operating results on February 15, 2018.
For the fourth quarter 2017, HII had net revenues of $2.0 billion, with an operating margin of 11.4%. HII's diluted earnings per share (EPS) were $1.41 in Q4 FY17, a decrease of 66.43% from $4.20 in the same period of 2016. The reported numbers included a one-time expense related to the early extinguishment of debt, the tax expense for the revaluation of net deferred tax assets resulting from the enactment of the Tax Reform Act, and the tax expense associated with a $214 million acceleration of discretionary pension contributions in 2018. The adjusted diluted EPS, excluding these special items, were $3.11 in Q4 FY17.
For the full fiscal year 2017, HII generated revenues of $7.4 billion, which is an increase of 5.3% y-o-y. The Company's operating income was $865 million, with an operating margin of 11.6% for FY17 compared to an operating income of $858 million, and an operating margin of 12.1% in FY16. The diluted EPS were $10.46 for FY17, a decrease of 13.84% from $12.14 in FY16. The reported numbers also included the special items mentioned previously. Excluding these non-recurring items, HII's adjusted diluted EPS were $12.14 for FY17.
Stock Performance Snapshot
February 20, 2018 - At Tuesday's closing bell, Huntington Ingalls Industries' stock marginally climbed 0.15%, ending the trading session at $266.11.
Volume traded for the day: 782.42 thousand shares, which was above the 3-month average volume of 569.11 thousand shares.
Stock performance in the last month – up 9.91%; previous three-month period – up 12.84%; past twelve-month period – up 25.58%; and year-to-date - up 12.90%
After yesterday's close, Huntington Ingalls Industries' market cap was at $12.08 billion.
Price to Earnings (P/E) ratio was at 22.77.
The stock has a dividend yield of 1.08%.
The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry.
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