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MarketScreener Homepage  >  Equities  >  Nyse  >  Huntington Ingalls Industries, Inc.    HII

HUNTINGTON INGALLS INDUSTRIES, INC.

(HII)
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Huntington Ingalls Industries : Awarded Contract for Construction of First Two Columbia-Class Submarine Modules

11/23/2020 | 06:00pm EST

NEWPORT NEWS, Va., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that its Newport News Shipbuilding division has been awarded a contract modification from General Dynamics Electric Boat in support of construction on the first two Columbia-class ballistic missile submarines  

The contract modification, valued at approximately $2.2 billion, provides continued design support efforts, as well as the construction and delivery of six module sections for each of the first two Columbia-class submarines.

As part of the contract, Newport News will deliver the completed modules to Electric Boat for final assembly. The contracted module delivery dates are scheduled to start in November 2022 with the last module delivery taking place by January 2028.

“We are pleased to be a crucial design and manufacturing contributor to the Columbia-class program,” said Charles Southall, Newport News’ vice president of Columbia-class Submarine Construction. “This contract continues NNS’ longstanding and strong commitment to the Navy’s undersea enterprise through the design and construction of major modules and assemblies necessary to achieve program objectives.”

Newport News is a major contractor and shipbuilding partner in the Columbia-class program, and in May 2019 began advance construction activities on the lead ballistic missile submarine under contract to Electric Boat.

The Columbia class will replace the fleet of Ohio-class ballistic missile submarines. The lead ship is scheduled to be delivered to the Navy in 2027.

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

Contact:

Duane Bourne

Duane.A.Bourne@hii-co.com

(757) 380-3581

 


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Source: Huntington Ingalls Industries, Inc.

2020 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2020 9 018 M - -
Net income 2020 632 M - -
Net Debt 2020 1 328 M - -
P/E ratio 2020 10,8x
Yield 2020 2,49%
Capitalization 6 821 M 6 821 M -
EV / Sales 2020 0,90x
EV / Sales 2021 0,90x
Nbr of Employees 42 000
Free-Float 74,1%
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Technical analysis trends HUNTINGTON INGALLS INDUSTRIES, INC.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 180,82 $
Last Close Price 168,46 $
Spread / Highest target 21,7%
Spread / Average Target 7,34%
Spread / Lowest Target -11,6%
EPS Revisions
Managers and Directors
NameTitle
C. Michael Petters President, Chief Executive Officer & Director
Kirkland H. Donald Chairman
Christopher D. Kastner CFO & Executive VP-Business Management
Ron A. Davis Chief Information Systems Officer
Edgar A. Green President-Technical Solutions & Executive VP
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