MCLEAN, Va., June 22, 2026 (GLOBE NEWSWIRE) -- HII (NYSE: HII), America's largest military shipbuild...


MCLEAN, Va., June  22, 2026  (GLOBE NEWSWIRE) -- HII (NYSE: HII), America’s largest military shipbuilder, has been awarded a $418 million contract to repair and maintain shipboard-based elevators on U.S. Navy aircraft carriers and amphibious ships, supporting the fleet’s operational readiness.  Under the five-year, indefinite delivery/indefinite quantity (IDIQ) contract awarded by Naval Sea Systems Command (NAVSEA), HII’s Mission Technologies division will provide engineering, maintenance and technical repair support for the elevators, cargo handling equipment and associated systems installed on the ships.  “Ensuring that essential operational systems — including shipboard elevators — run reliably is central to meeting the readiness needs of our U.S. sailors and Marines,” said Michael Lempke, president of Mission Technologies’ Global Security group. “We look forward to applying four decades of Elevator Support Unit experience to safeguard the performance of these systems and ensure they are reliable, resilient and fully capable of supporting the fleet.”  HII’s Mission Technologies will also conduct sailor training to promote self-sufficiency at sea and provide rapid response fly-away teams that deploy globally to ensure complex maintenance and repairs are completed safely and effectively.    A photo accompanying this release is available at: https://www.hii.com/news/hii-awarded-418-million-contract-to-continue-supporting-fleet-operational-readiness-for-the-us-navy.  Building on more than 40 years of Elevator Support Unit experience, the team will apply lessons learned to ensure consistent high-quality, rapid-response and affordable sustainment services for the U.S. Navy’s fleet.  Work will be performed within the continental United States, outside the continental United States and at forward-deployed locations around the world.  HII currently maintains and modernizes the vast majority of the U.S. Navy’s fleet. The team employs a holistic approach to life-cycle maritime defense systems, from small watercraft to submarines, surface combatants and aircraft carriers, to ensure a high state of readiness.  About HII  HII is America’s largest shipbuilder, delivering the world’s most powerful ships and all-domain mission technologies, including unmanned systems, to U.S. and allied defense customers. HII is the largest producer of unmanned underwater vehicles for the U.S. Navy and the world.  With a more than 140-year history of advancing U.S. national security, HII builds and integrates defense capabilities extending from the core fleet to C6ISR, AI/ML, EW and synthetic training. Headquartered in Virginia, HII’s workforce is 44,000 strong. For more information, visit:  HII on the web: https://www.HII.com/HII on Facebook: https://www.facebook.com/TeamHIIHII on X: https://www.twitter.com/WeAreHIIHII on Instagram: https://www.instagram.com/WeAreHIIHII on LinkedIn: https://www.linkedin.com/company/wearehii  Contact:Greg McCarthy(202) 264-7126gregory.j.mccarthy@hii-co.com  A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6006a2f1-709b-4f25-9cda-c354870a7b54  
            

HII Awarded $418 Million Contract to Continue Supporting Fleet Operational Readiness for the U.S. Navy

HII Secures $418M Navy Elevator Contract; Signals Recurring Revenue

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>MCLEAN, Va., June 22, 2026 (GLOBE NEWSWIRE) -- HII (NYSE: HII), America&#039;s largest military shipbuild...</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>HII&#039;s Mission Technologies unit won a five-year, $418 million NAVSEA IDIQ to repair and maintain shipboard elevators and cargo handling systems on Navy carriers and amphibious ships. The deal includes sailor training and rapid-response teams, expanding HII&#039;s service backlog and reinforcing fleet readiness with global deployment. Work will be conducted in the U.S., overseas, and at forward-deployed locations.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>HII wins a $418 million NAVSEA contract to repair shipboard elevators.</li><li>Five-year IDIQ includes engineering, maintenance, and repair of elevators and cargo handling.</li><li>Training for sailors and rapid-response teams to support global deployments.</li><li>Work spans continental US, overseas, and forward-deployed locations; strengthens backlog.</li><li>HII leverages 40+ years Elevator Support Unit experience; reinforces fleet readiness.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>HII (HII)</strong>: Primary beneficiary; contract reinforces backlog and multi-year service revenue.</li><li><strong>Naval Sea Systems Command (NAVSEA)</strong>: Awarding agency; government contract validates Navy maintenance spend with HII as key provider.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. This contract win demonstrates continued government defense spending relevance and expands HII&#039;s service backlog, signaling durable revenue potential beyond new-build work.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Adds a sizable, multi-year backlog via a five-year IDIQ contract.</li><li>Strengthens HII’s elevator maintenance footprint and recurring revenue base.</li><li>Global deployment and training components expand service uptake and cross-sell opportunities.</li><li>No immediate cash-flow timing disclosed; market reaction may be modest near-term.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Contract value: $418 million.</li><li>Contract duration: five-year (IDIQ).</li><li>Awarding agency: Naval Sea Systems Command (NAVSEA).</li><li>Experience: Elevator Support Unit extends 40+ years.</li><li>Scope: repair/maintenance of elevators and related cargo handling systems on Navy carriers and amphibious ships.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over 6–12 months as secured, multi-year maintenance revenue augments backlog and visibility.</p>
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<article>
  <section>
    <h2>HII Secures $418 Million NAVSEA Contract to Support Fleet Readiness</h2>
    <p>On <strong>June 22, 2026</strong>, <strong>HII</strong> (NYSE: <strong>HII</strong>), America’s largest military shipbuilder, was awarded a <strong>$418 million</strong> contract to repair and maintain shipboard-based elevators on U.S. Navy aircraft carriers and amphibious ships, reinforcing the fleet’s operational readiness. The five-year, <strong>IDIQ</strong> contract from Naval Sea Systems Command (<strong>NAVSEA</strong>) calls for HII’s <strong>Mission Technologies</strong> division to provide engineering, maintenance and technical repair support for the elevators, cargo handling equipment and related systems installed on the ships.</p>
  </section>

  <section>
    <h2>Contract Details and Scope</h2>
    <p>Under the five-year, <strong>IDIQ</strong> contract awarded by <strong>NAVSEA</strong>, <strong>HII</strong>’s <strong>Mission Technologies</strong> division will provide engineering, maintenance and technical repair support for the elevators, cargo handling equipment and associated systems installed on the ships.</p>
    <p>“Ensuring that essential operational systems — including shipboard elevators — run reliably is central to meeting the readiness needs of our U.S. sailors and Marines,” said Michael Lempke, president of Mission Technologies’ Global Security group. “<strong>We look forward to applying four decades of Elevator Support Unit experience</strong> to safeguard the performance of these systems and ensure they are reliable, resilient and fully capable of supporting the fleet.”</p>
    <p><strong>HII</strong>’s Mission Technologies will also conduct sailor training to promote self-sufficiency at sea and provide <em>rapid response fly-away teams</em> that deploy globally to ensure complex maintenance and repairs are completed safely and effectively.</p>
    <p>A photo accompanying this release is available at: <a href="https://www.hii.com/news/hii-awarded-418-million-contract-to-continue-supporting-fleet-operational-readiness-for-the-us-navy">https://www.hii.com/news/hii-awarded-418-million-contract-to-continue-supporting-fleet-operational-readiness-for-the-us-navy</a>.</p>
    <p>Building on more than <strong>40 years</strong> of Elevator Support Unit experience, the team will apply lessons learned to ensure consistent high-quality, rapid-response and affordable sustainment services for the U.S. Navy’s fleet.</p>
    <p>Work will be performed within the continental United States, outside the continental United States and at forward-deployed locations around the world. <strong>HII</strong> currently maintains and modernizes the vast majority of the U.S. Navy’s fleet. The team employs a holistic approach to life-cycle maritime defense systems, from small watercraft to submarines, surface combatants and aircraft carriers, to ensure a high state of readiness.</p>
  </section>

  <section>
    <h2>Operational Impact and Fleet Readiness</h2>
    <p>This contract reinforces <strong>HII</strong>’s role as a key defender of U.S. naval readiness, with the Elevator Support Unit experience guiding reliable operation of critical shipboard systems. By coupling engineering and hands-on maintenance with sailor training and rapid-response capabilities, the agreement aims to minimize downtime and maximize mission availability for the Navy’s carriers and amphibious ships.</p>
  </section>

  <section>
    <h2>About HII</h2>
    <p><strong>HII</strong> is America’s largest shipbuilder, delivering the world’s most powerful ships and all-domain mission technologies, including unmanned systems, to U.S. and allied defense customers. <strong>HII</strong> is the largest producer of unmanned underwater vehicles for the U.S. Navy and the world. With a more than <strong>140-year</strong> history of advancing U.S. national security, <strong>HII</strong> builds and integrates defense capabilities extending from the core fleet to C6ISR, AI/ML, EW and synthetic training. Headquartered in Virginia, <strong>HII</strong>’s workforce is <strong>44,000</strong> strong.</p>
    <p>For more information, visit: <a href="https://www.HII.com/">HII on the web</a>, <a href="https://www.facebook.com/TeamHII">HII on Facebook</a>, <a href="https://www.twitter.com/WeAreHII">HII on X</a>, <a href="https://www.instagram.com/WeAreHII">HII on Instagram</a>, <a href="https://www.linkedin.com/company/wearehii">HII on LinkedIn</a>.</p>
  </section>

  <section>
    <h2>Press Contact</h2>
    <p><strong>Contact:</strong> Greg McCarthy (202) 264-7126 <a href="mailto:gregory.j.mccarthy@hii-co.com">gregory.j.mccarthy@hii-co.com</a></p>
  </section>
</article>

HII's Mission Technologies unit won a five-year, $418 million NAVSEA IDIQ to repair and maintain shipboard elevators and cargo handling systems on Navy carriers and amphibious ships. The deal includes sailor training and rapid-response teams, expanding HII's service backlog and reinforcing fleet readiness with global deployment. Work will be conducted in the U.S., overseas, and at forward-deployed locations.

HII Awarded $418 Million Contract to Continue Supporting Fleet Operational Readiness for the U.S. Navy

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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