Dear HII Teammates,
This morning, we reported first quarter revenues of $3.1 billion and operating income of $155 million. New contract awards during the quarter were $4 billion. Our shipbuilding divisions’ focus on increasing throughput in our shipyards and our broader efforts to rebuild the U.S. maritime industrial base helped drive another strong quarter of shipbuilding sales growth at 18% year over year.
For complete financial results, please read our news release.
These highlights from our business segments are a reflection of your hard work delivering excellent products and services in support of national security:
During the quarter, Ingalls Shipbuilding completed builder’s sea trials for USS Zumwalt (DDG 1000) and authenticated the keel of amphibious transport dock Philadelphia (LPD 32). The division ratified new collective bargaining agreements that extend through 2031.
Mission Technologies was selected to compete on a $25.4 billion Advanced Technology Support Program V (ATSP5) microelectronics multi-award contract. The division announced plans to expand its ROMULUS unmanned surface vessel assembly facility in Louisiana. And it completed the expansion of an unmanned operations facility in the United Kingdom, which significantly enhances and strengthens our presence in the U.K. and increases capacity and support for the U.K. Royal Navy and European partners.
Newport News Shipbuilding completed builder’s sea trials for aircraft carrier John F. Kennedy (CVN 79). Also in the carrier program, Enterprise (CVN 80) continues to take shape and is over 50% erected in the dry dock. Later this year, we expect to lay the keel of Doris Miller (CVN 81). We redelivered Virginia-class submarine USS New Jersey (SSN 796) after its post-shakedown availability and we are on track to deliver Arkansas (SSN 800) later this year.
Our ships, submarines and defense solutions remain vital to U.S. military operations across the globe. By staying focused on delivering high quality platforms, on time and ready for the mission, we strengthen the warfighter and our national security. Thank you for your commitment to this mission.
Respectfully,
Chris
