HII Awarded $418 Million Contract to Continue Supporting Fleet Operational Readiness for the U.S. Navy
HII (NYSE:HII) received a $418 million, five-year IDIQ contract from Naval Sea Systems Command to support U.S. Navy fleet operational readiness.
Rhea-AI Summary
HII (NYSE:HII) received a $418 million, five-year IDIQ contract from Naval Sea Systems Command to support U.S. Navy fleet operational readiness. HII’s Mission Technologies division will repair and maintain shipboard elevators, cargo handling equipment and related systems on aircraft carriers and amphibious ships worldwide.
Positive
- $418 million five-year IDIQ contract from U.S. Navy NAVSEA
- Mission Technologies to provide engineering, maintenance and technical repair support
- Contract covers elevators, cargo handling equipment and associated shipboard systems
- Includes sailor training and rapid-response fly-away maintenance teams
- Leverages more than 40 years of Elevator Support Unit experience
- Work spans U.S., overseas and forward-deployed Navy locations
Negative
- None.
Details
News Market Reaction – HII
In the Jun 22 session, HII declined 2.54%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Contract value
- $418 million
- U.S. Navy elevator repair and maintenance IDIQ award
- Contract term
- 5 years
- Duration of Navy IDIQ support contract
- Elevator experience
- 40+ years
- Elevator Support Unit experience cited in contract announcement
- Price change
- -3.86%
- Move prior to/around contract news publication
- 52-week range
- $228.6901–$460
- HII 52-week low and high before this news
- Market cap
- $11,247,091,997
- Equity value before contract announcement
- RSRs held
- 3,990.210 RSRs
- Total RSRs held by CFO Thomas E. Stiehle after June 15 award
- Insider sale
- 3,500 shares at $319.581
- Sale by Ex VP & Chief HR Officer on May 28, 2026
Historical Context
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Delivery of first REMUS 130 unmanned underwater vehicle to a U.S. ally.
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DefenseTech LIVE 2026 event showcasing defense tech demos and innovation focus.
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Partner launched new manufacturing line to accelerate ROMULUS USV production.
-
WAVES program bringing high school graduates into shipbuilding careers.
-
Ingalls Shipbuilding honored 2026 Master Shipbuilders for 40 years of service.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
indefinite delivery/indefinite quantity (idiq) financial
life-cycle maritime defense systems technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, Va., June 22, 2026 (GLOBE NEWSWIRE) -- HII (NYSE: HII), America’s largest military shipbuilder, has been awarded a
Under the five-year, indefinite delivery/indefinite quantity (IDIQ) contract awarded by Naval Sea Systems Command (NAVSEA), HII’s Mission Technologies division will provide engineering, maintenance and technical repair support for the elevators, cargo handling equipment and associated systems installed on the ships.
“Ensuring that essential operational systems — including shipboard elevators — run reliably is central to meeting the readiness needs of our U.S. sailors and Marines,” said Michael Lempke, president of Mission Technologies’ Global Security group. “We look forward to applying four decades of Elevator Support Unit experience to safeguard the performance of these systems and ensure they are reliable, resilient and fully capable of supporting the fleet.”
HII’s Mission Technologies will also conduct sailor training to promote self-sufficiency at sea and provide rapid response fly-away teams that deploy globally to ensure complex maintenance and repairs are completed safely and effectively.
A photo accompanying this release is available at: https://www.hii.com/news/hii-awarded-418-million-contract-to-continue-supporting-fleet-operational-readiness-for-the-us-navy.
Building on more than 40 years of Elevator Support Unit experience, the team will apply lessons learned to ensure consistent high-quality, rapid-response and affordable sustainment services for the U.S. Navy’s fleet.
Work will be performed within the continental United States, outside the continental United States and at forward-deployed locations around the world.
HII currently maintains and modernizes the vast majority of the U.S. Navy’s fleet. The team employs a holistic approach to life-cycle maritime defense systems, from small watercraft to submarines, surface combatants and aircraft carriers, to ensure a high state of readiness.
About HII
HII is America’s largest shipbuilder, delivering the world’s most powerful ships and all-domain mission technologies, including unmanned systems, to U.S. and allied defense customers. HII is the largest producer of unmanned underwater vehicles for the U.S. Navy and the world.
With a more than 140-year history of advancing U.S. national security, HII builds and integrates defense capabilities extending from the core fleet to C6ISR, AI/ML, EW and synthetic training. Headquartered in Virginia, HII’s workforce is 44,000 strong. For more information, visit:
- HII on the web: https://www.HII.com/
- HII on Facebook: https://www.facebook.com/TeamHII
- HII on X: https://www.twitter.com/WeAreHII
- HII on Instagram: https://www.instagram.com/WeAreHII
- HII on LinkedIn: https://www.linkedin.com/company/wearehii
Contact:
Greg McCarthy
(202) 264-7126
gregory.j.mccarthy@hii-co.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6006a2f1-709b-4f25-9cda-c354870a7b54
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.