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General Dynamics Bath Iron Works Awarded Contract for Additional DDG 51 Destroyer

1. U.S. Navy adds DDG 51 destroyer to GD's multi-year contract. 2. GD's Bath Iron Works praises team improvements for faster ship delivery. 3. Fiscal Year 2025 Defense Bill includes additional ship funding. 4. Current projects involve multiple Arleigh Burke-class destroyers. 5. GD generated $47.7 billion revenue in 2024.

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FAQ

Why Bullish?

The contract addition can enhance GD's revenue and strengthen its competitive position, similar to prior defense contracts that positively affected stock performance.

How important is it?

The contract's significance to national defense aligns with GD's core strengths, likely improving fiscal outlook.

Why Short Term?

Immediate revenue recognition from the contract can boost investor confidence, leading to short-term price appreciation.

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, /PRNewswire/ -- General Dynamics Bath Iron Works, a business unit of General Dynamics (NYSE:GD), announced today that the U.S. Navy has exercised an option to add an additional DDG 51 destroyer to the multi-year contract awarded in 2023. DDG 124 returning from Sea Trials last week. "We are proud to be selected to build this ship for the U.S. Navy and to continue our legacy of contributing to the nation's defense," said Charles F. Krugh, president of Bath Iron Works. "I appreciate the efforts of our team to improve the construction process and build to the plan. We are clawing back schedule so we can deliver more Bath-built ships to our Navy. I would also like to acknowledge and thank our Congressional delegation who added this ship to the Fiscal Year 2025 Defense Appropriations Bill." Bath Iron Works currently has under construction the Flight IIA Arleigh Burke-class destroyers Harvey C. Barnum Jr. (DDG 124) and Patrick Gallagher (DDG 127) as well as the Flight III configuration destroyers Louis H. Wilson Jr. (DDG 126), William Charette (DDG 130), Quentin Walsh (DDG 132), John E. Kilmer (DDG 134) and Richard G. Lugar (DDG 136). General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 110,000 people worldwide and generated $47.7 billion in revenue in 2024. More information is available at www.gd.com. More information about General Dynamics Bath Iron Works is available at www.gdbiw.com.SOURCE General Dynamics WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In Also from this source

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