Dear HII Teammates,
This morning we reported second quarter revenues of $3.1 billion and operating income of $163 million. New contract awards during the quarter were $11.9 billion, driving our backlog to $56.9 billion as of June 30. For complete financial results, please read our news release.
Here are some highlights from our business segments:
During the quarter, Ingalls Shipbuilding christened guided missile destroyer Jeremiah Denton (DDG 129) and completed the main engine light off on Ted Stevens (DDG 128). We continued to make progress in the amphib program, having completed the fuel load on Harrisburg (LPD 30) and generator light off on Bougainville (LHA 8).
Mission Technologies delivered the initial Lionfish small uncrewed undersea vehicles (UUVs) to the U.S. Navy under a multi-year program, and announced the order of more than a dozen REMUS UUVs by Hitachi in Japan, reflecting further commercial and international expansion. In an important validation of hybrid teaming capabilities called Yellow Moray, the team achieved alongside the U.S. Navy customer a successful forward-deployed launch and recovery of a REMUS UUV from the NNS-built Virginia-class submarine USS Delaware (SSN 791). The division was also awarded a multi-year contract to provide live training solutions to the U.S. Army’s Program Executive Office for Simulation, Training and Instrumentation.
Newport News Shipbuilding received a contract modification to construct two additional Block V Virginia-class submarines. The team also launched Virginia-class submarine Arkansas (SSN 800) and celebrated the first meal aboard Virginia-class submarine Massachusetts (SSN 798). We are on track to deliver Massachusetts later this year.
We also announced several significant partnerships during the quarter. We signed a memorandum of understanding with HD Hyundai Heavy Industries to explore opportunities to collaborate on broad initiatives related to ship construction. We also announced a technology partnership with C3 AI to expand our use of digital technologies and apply artificial intelligence to accelerate shipbuilding throughput.
Thank you for your continued dedication as we are called to meet the needs of our defense customers.
Respectfully,
Chris Kastner
President and CEO
