Dear HII Teammates,
Today we reported third quarter revenue of $2.7 billion, down 2.4% from the third quarter of 2023, and backlog of $49.4 billion. For complete financial results, please read our news release.
Key operational highlights in the third quarter and early October included the following:
Ingalls Shipbuilding was awarded a $9.6 billion multi-ship procurement contract for the construction of San Antonio-class amphibious transport docks LPD 33, 34 and 35 and America-class amphibious ship Helmand Province (LHA 10). Ingalls also launched Harrisburg (LPD 30), loaded out three of four hypersonic missile tubes into Zumwalt (DDG 1000) and completed light-off of the Aegis combat system on Arleigh Burke-class Flight III guided missile destroyer Ted Stevens (DDG 128).
Mission Technologies won several awards during the quarter — totaling $11 billion in potential value — including a $6.7 billion contract to provide electronic warfare engineering and technical services support for the U.S. Air Force; a $3 billion federal government contract to deliver logistics services, ISR operations and next-gen; a $458 million contract to modernize communications and information technology networks for the U.S. government; and a $209 million contract to support U.S. Air Force weapons systems development and sustainment. The team also delivered advanced REMUS 620 unmanned underwater vehicles to NOAA, less than 24 months after unveiling.
Newport News Shipbuilding shipped the final module of Virginia-class submarine Utah (SSN 801). NNS is also making significant progress on Ford-class aircraft carrier John F. Kennedy (CVN 79), having turned over 92% of compartments to the U.S. Navy and all 19 combat systems to the government test team.
As many of you know, we continue discussions with our Navy partner on contract terms for Virginia-class Block V and Block VI and Columbia-class submarines. We are also very focused on shipbuilding performance. We have thousands of highly skilled and committed shipbuilders, and their example and mentorship are invaluable as we develop a new generation of manufacturing talent to execute on our backlog and the future demand ahead of us.
By focusing on the fundamentals, and remaining true to our mission and our values, we can do great things.
Chris Kastner
President and CEO
