HII's Ingalls Shipbuilding Secures $283M Frigate Lead Yard Support Contract
HII sits 68% above its 52-week low of $215.045.
Summary
HII's Ingalls Shipbuilding division has been awarded a $283 million contract by the U.S. Navy for FF(X) class frigate lead yard support activities. This contract enables Ingalls to procure long lead time materials, execute design work, and commence pre-construction for the new frigate class. This development follows the Navy's selection of Ingalls in December 2025 to design and build the FF(X), leveraging the proven Legend-class national security cutter design. The award reinforces HII's critical role as a defense shipbuilder and provides concrete funding for the initial phases of a significant new program, contributing positively to future revenue and backlog. Traders should monitor further contract phases and funding announcements for the FF(X) program.
At the time of this announcement, HII was trading at $361.40 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $14.2B. The 52-week trading range was $215.05 to $460.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.