StockNews.AI
GD
StockNews.AI
147 days

General Dynamics Electric Boat awarded $1 billion contract modification for long lead time material for Virginia-class submarines

1. General Dynamics Electric Boat secured a $1 billion contract modification. 2. Funding accelerates production of Virginia Class Block VI submarines. 3. The Navy requires high-rate production for its submarine enterprise. 4. Virginia-class submarines meet diverse 21st-century mission requirements. 5. General Dynamics operates with over 110,000 employees and $47.7 billion in revenue.

Mass Contract
+0.76%Current Return
VS
-1.19%S&P 500
$267.5403/25 06:17 PM EDTEvent Start
$269.5803/27 12:38 AM EDTLatest Updated
5m saved
Insight
Article

FAQ

Why Bullish?

The significant contract indicates strong future earnings potential. Historical contracts often boost stock prices.

How important is it?

The contract's size and strategic impact on production enhance GD's valuation significantly.

Why Long Term?

Increased production capacity and stable contracts suggest sustained revenue growth over years.

Related Companies

HIINOCLMT
, /PRNewswire/ -- General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), announced today it has been awarded a $1 billion undefinitized contract modification allowing Electric Boat to purchase long lead time materials for Virginia Class Block VI submarines as detailed in the U.S. Department of Defense contract announcement. Virginia-class submarine "This contract modification drives continuation of the crucial demand signal that the submarine industrial base needs to invest in the capacity and materials required to increase production volume," said Mark Rayha, president of General Dynamics Electric Boat. "Consistent funding for the supply base is essential to achieve the high-rate production the Navy requires of the entire submarine enterprise." Virginia-class submarines are designed from the keel up for the full range of 21st-century mission requirements, including anti-submarine and surface ship warfare and special operations support. General Dynamics Electric Boat is the prime contractor and lead design yard for the Virginia class and constructs them in a teaming arrangement with HII's Newport News Shipbuilding in Virginia. General Dynamics Electric Boat designs, builds, repairs and modernizes nuclear submarines for the U.S. Navy. Headquartered in Groton, Connecticut, it employs more than 24,000 people. More information about General Dynamics Electric Boat is available at www.gdeb.com.Headquartered in Reston, Virginia, 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.SOURCE General Dynamics Electric Boat WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News