NEWPORT NEWS, Va. - HII (NYSE:HII) announced Wednesday that its Newport News Shipbuilding division has completed builder's sea trials of the John F. Kennedy (CVN 79), the second Gerald R. Ford-class nuclear-powered aircraft carrier. The defense contractor, currently trading at $413.64 with a market capitalization of $16.28 billion, has seen its stock deliver impressive returns of over 124% in the past year.
The vessel returned to Newport News Shipbuilding after conducting its first at-sea testing of critical ship systems and components. The trials brought together shipbuilders, Kennedy sailors and Navy personnel to evaluate ship operations.
"Taking Kennedy to sea is a testament to the grit and determination of the world's finest shipbuilders," said Derek Murphy, Newport News Shipbuilding vice president of new construction aircraft carrier programs.
The Ford-class carriers represent the next generation of U.S. Navy aircraft carriers, featuring design enhancements aimed at increasing operational efficiency and reducing manning requirements compared to previous carrier classes. The vessels include a new nuclear power plant and increased electrical power-generation capacity.
The John F. Kennedy continues the development of the Ford-class platform, which will form the backbone of the U.S. Navy's carrier fleet. The completion of sea trials marks a significant milestone as the vessel moves closer to joining active naval service.
HII, headquartered in Virginia with a workforce of 44,000, is America's largest shipbuilder and produces naval vessels and defense technologies for U.S. and allied defense customers, according to the company's press release statement.
In other recent news, HII's Mission Technologies division secured a significant contract with a ceiling of $151 billion for the Missile Defense Agency's SHIELD program. This indefinite-delivery/indefinite-quantity contract aims to enhance capabilities for warfighters. Additionally, the division has been selected as one of 12 companies to participate in a $25.4 billion Advanced Technology Support Program V (ATSP5) contract, which focuses on providing engineering solutions for electronics and software challenges. In corporate developments, HII announced the appointment of Fatina Brave as vice president of infrastructure and sustainability at Ingalls Shipbuilding, succeeding Eric Crooker. Daniel Marks has also been named vice president of contracts and pricing at the same division, taking over from Stephen Fitts. Furthermore, HII declared a quarterly dividend of $1.38 per share, payable in March 2026. These recent developments reflect HII's ongoing efforts to strengthen its leadership team and expand its contract portfolio in the defense sector.