HII Lands $355M Modification on Navy Submarine Overhaul Contract

Huntington Ingalls Industries (NYSE: HII) has been awarded a potential $355M contract modification to help the U.S. Navy prepare for an engineered overhaul of the USS Boise submarine.

HII's Newport News Shipbuilding division will support early production efforts such as advance planning and execution services, the Department of Defense said Monday.

The branch initially awarded the military shipbuilder a $385.7M contract in October 2017 and moved the Los Angeles-class underwater vessel from Naval Station Norfolk in Virginia to the shipyard in early May to begin overhaul preparations.

DoD noted the branch will obligate $351.8M at the time of award and expects work to be finished in May 2023.

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