Dear HII Teammates,
This morning, we reported second quarter revenues of $3.4 billion and operating income of $210 million. New contract awards during the quarter were $6.7 billion. These results reflect our continued focus and progress on increasing throughput, and delivering ships and mission solutions to the nation’s sailors, Marines and warfighters.
For complete financial results, please read our news release.
These highlights reflect our ability to capture new contracts while delivering on our commitments to our customers:
During the quarter, Ingalls Shipbuilding was awarded a lead yard support contract to procure long lead time material, execute design work and begin pre-construction activities for the first FF(X)-class frigate. The shipyard also began fabrication of guided missile destroyer John F. Lehman (DDG 137), the seventh Flight III destroyer that will be built at Ingalls. Currently, Ingalls has 13 ships in production and expects to deliver three ships in the next 12 months.
Mission Technologies was awarded a $418 million contract to repair and maintain shipboard-based elevators on U.S. Navy aircraft carriers and amphibious ships, supporting the fleet’s operational readiness. Mission Technologies also announced plans to produce four additional ROMULUS 151 unmanned surface vessels, bringing our total to five USVs in that family of ships. The U.S. Navy selected ROMULUS to advance to the evaluation phase of its Medium Unmanned Surface Vessel program. During the quarter, Mission Technologies delivered the first REMUS 130 unmanned underwater vehicle to the U.S. Department of War. As the third generation of the highly successful REMUS 100 series, REMUS 130 combines the reliability, simplicity and mission effectiveness that have defined the REMUS capability set.
Newport News Shipbuilding redelivered Virginia-class submarine USS New Jersey (SSN 796) to the U.S. Navy following completion of its post-shakedown availability. We continue to work toward delivering Virginia-class submarine Arkansas (SSN 800) later this year. Aircraft carrier John F. Kennedy (CVN 79) successfully completed builder’s trials, and we expect to achieve preliminary acceptance later this year with final ship delivery in 2027. We continue to make progress on CVN 80 and expect to lay the keel of CVN 81 later this year.
Importantly, we recently reached agreement on Virginia-class submarine Block VI and Columbia-class submarine contracts. These awards are just the latest evidence that the products and services you deliver in support of our national defense remain in high demand. Thank you for your commitment to that mission; let’s build on our momentum and finish 2026 even stronger than it started.
Respectfully,
Chris
