Photo Release — Huntington Ingalls Industries Awarded $2.9 Billion Contract To Execute USS John C. Stennis (CVN 74) Refueli...
February 19 2021 - 5:55PM
Huntington Ingalls Industries (NYSE:HII) announced today that its
Newport News Shipbuilding division has been awarded a $2.9 billion
contract for the refueling and complex overhaul (RCOH) of the
nuclear-powered aircraft carrier USS John C. Stennis (CVN 74).
“We are pleased to be awarded the contract to execute this
extensive construction and engineering project,” said Todd West,
Newport News’ vice president, in-service aircraft carrier programs.
“Our teams have spent three years preparing and planning for each
step of the process along the way, and we look forward to
continuing our work with our suppliers and Navy partners in
anticipation of the ship’s arrival at Newport News.”
The RCOH represents 35% of all maintenance and modernization in
an aircraft carrier's 50-year service life. Stennis’ RCOH will
include the refueling of the ship’s reactors, as well as extensive
modernization work to more than 2,300 compartments, hundreds of
tanks and systems. In addition, major upgrades will be made in the
propulsion plant, to the flight deck, catapults, combat systems and
the island.
A photo accompanying this release is available at:
https://newsroom.huntingtoningalls.com/file/stennis-rcoh.
Built at Newport News, Stennis was christened in 1993 and
delivered to the Navy in 1995. The ship is the seventh Nimitz-class
carrier to undergo this major life-cycle milestone. More than 4,000
Newport News employees will support the execution effort, which
will continue through late 2025.
Huntington Ingalls Industries is America’s largest military
shipbuilding company and a provider of professional services to
partners in government and industry. For more than a century, HII’s
Newport News and Ingalls shipbuilding divisions in Virginia and
Mississippi have built more ships in more ship classes than any
other U.S. naval shipbuilder. HII’s Technical Solutions division
supports national security missions around the globe with unmanned
systems, defense and federal solutions, and nuclear and
environmental services. Headquartered in Newport News, Virginia,
HII employs more than 42,000 people operating both domestically and
internationally. For more information, visit:
• HII on the web: www.huntingtoningalls.com• HII on
Facebook: www.facebook.com/HuntingtonIngallsIndustries• HII on
Twitter: www.twitter.com/hiindustries • HII on YouTube:
www.youtube.com/huntingtoningalls • HII on Instagram:
www.instagram.com/huntingtoningalls
Statements in this release, other than statements of historical
fact, constitute “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve risks and uncertainties that
could cause our actual results to differ materially from those
expressed in these statements. Factors that may cause such
differences include: changes in government and customer priorities
and requirements (including government budgetary constraints,
shifts in defense spending, and changes in customer short-range and
long-range plans); our ability to estimate our future contract
costs and perform our contracts effectively; changes in procurement
processes and government regulations and our ability to comply with
such requirements; our ability to deliver our products and services
at an affordable life cycle cost and compete within our markets;
natural and environmental disasters and political instability; our
ability to execute our strategic plan, including with respect to
share repurchases, dividends, capital expenditures and strategic
acquisitions; adverse economic conditions in the United States and
globally; health epidemics, pandemics and similar outbreaks,
including the COVID-19 pandemic; changes in key estimates and
assumptions regarding our pension and retiree health care costs;
security threats, including cyber security threats, and related
disruptions; and other risk factors discussed in our filings with
the U.S. Securities and Exchange Commission. There may be other
risks and uncertainties that we are unable to predict at this time
or that we currently do not expect to have a material adverse
effect on our business, and we undertake no obligation to update
any forward-looking statements. You should not place undue reliance
on any forward-looking statements that we may make. This release
also contains non-GAAP financial measures and includes a GAAP
reconciliation of these financial measures. Non-GAAP financial
measures should not be construed as being more important than
comparable GAAP measures.
Contact: Duane BourneDuane.A.Bourne@hii-co.com (757)
380-3581
Huntington Ingalls Indus... (NYSE:HII)
Historical Stock Chart
From Mar 2024 to Apr 2024
Huntington Ingalls Indus... (NYSE:HII)
Historical Stock Chart
From Apr 2023 to Apr 2024