HII is Awarded Contract Modification for Construction of Two Additional Block V Virginia-class Submarines
Rhea-AI Summary
HII and its Newport News Shipbuilding division, along with partner General Dynamics Electric Boat, have secured a contract modification for building two additional Block V Virginia-class submarines. These vessels represent the 11th and 12th fast-attack submarines under the Block V contract.
The announcement reinforces the ongoing collaboration between Newport News Shipbuilding (NNS) and General Dynamics Electric Boat (GDEB) in strengthening national security assets. To date, the partnership has successfully delivered 24 Virginia-class submarines to the fleet.
Jason Ward, NNS vice president of submarine construction, emphasized the strategic importance of these submarines and highlighted the shipbuilders' commitment to delivering these vessels to enhance naval capabilities.
Positive
- Secured new contract modification for construction of two additional Block V Virginia-class submarines
- Strong partnership with General Dynamics Electric Boat continues
- Proven track record with 24 Virginia-class submarines already delivered
- Contract supports long-term revenue visibility in naval defense sector
Negative
- Contract value not disclosed, limiting financial impact assessment
- Long production cycles may impact near-term cash flows
News Market Reaction 1 Alert
On the day this news was published, HII declined 1.24%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEWPORT NEWS, Va., April 30, 2025 (GLOBE NEWSWIRE) -- HII (NYSE: HII) announced today that the Virginia-class shipbuilding team, which includes the company’s Newport News Shipbuilding (NNS) division, has been awarded a contract modification in support of construction of two fiscal year 2024 Block V submarines.
The contract modification, to NNS and teaming partner General Dynamics Electric Boat, authorizes construction of the 11th and 12th fast-attack submarines of the Block V contract.
“We appreciate the teamwork that resulted in these critical national security assets being put under contract,” said Jason Ward, NNS vice president of submarine construction. “We understand the advantage Virginia-class submarines bring to the sailors who operate them, and our shipbuilders are working with diligence to deliver them to the fleet.”
NNS and GDEB have built and delivered 24 Virginia-class submarines to date.
A photo accompanying this release is available at: https://hii.com/newsroom.
About HII
HII is a global, all-domain defense provider. HII’s mission is to deliver the world’s most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world.
As the nation’s largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML 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
Contact:
Todd Corillo
Todd.T.Corillo@hii-co.com
(757) 688-3220
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6f821f2a-7bf3-484b-a12a-42e01c2d68d4
FAQ
What is the value of HII's new Virginia-class submarine contract in 2024?
How many Virginia-class submarines has HII delivered to date?
What is the total number of Block V submarines HII will build under this contract?
Where will HII build the new Virginia-class submarines?
When will HII deliver the two new Block V Virginia-class submarines?
