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HII is Awarded Task Order for Approximately $296 Million to Support Global Air and Space Operations

1. HII secures a $296M task order for USAFE-AFAFRICA air operations. 2. Contract supports global air and space operations for five years. 3. HII to enhance U.S. defense security in Europe and Africa. 4. The deal builds on HII's existing PMRO contract scope. 5. HII has a history of advancing U.S. national security.

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Why Bullish?

The $296 million award indicates strong demand for HII's services, possibly driving stock price up. Similar past contracts have positively influenced HII's stock value.

How important is it?

This sizable contract underscores HII's role in defense, enhancing its market position. The significance of defense spending highlights direct relevance to HII's future earnings.

Why Long Term?

The five-year duration of the contract allows for sustained revenue growth, impacting HII's long-term outlook. Previous long-term contracts have generally led to stable stock performance.

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MCLEAN, Va., Jan. 28, 2025 (GLOBE NEWSWIRE) -- HII (NYSE: HII) announced today that its Mission Technologies division was awarded a task order valued at approximately $296 million to support U.S. Air Forces in Europe-Air Forces in Africa’s (USAFE-AFAFRICA) air and space operations around the globe. Under the five-year Consolidated Mission Support task order, awarded by the Air Force Installation Contracting Center’s 764 Enterprise Sourcing Squadron, HII will provide technical and analytical services to assist USAFE-AFAFRICA in the planning, integration and execution of command and control; integrated air and missile defense; and intelligence, surveillance and reconnaissance (ISR). The task order is a follow-on to work that HII does under the Persistent Multi-Role Operations (PMRO) contract with added scope. “Through our continued partnership with USAFE-AFAFRICA, our team looks forward to applying our diverse skills and multi-national operations expertise to enhance the U.S. defense security posture in Europe and Africa and support the U.S. Department of Defense’s Combined Joint All-Domain Command and Control strategy,” said Todd Gentry, president of Mission Technologies’ All Domain Operations group. A photo accompanying this release is available at: https://hii.com/news/hii-is-awarded-task-order-for-approximately-296-million-to-support-global-air-and-space-operations/. USAFE-AFAFRICA, headquartered at Ramstein Air Base in Germany, executes Air Force, United States European Command and United States Africa Command missions with forward-based airpower and infrastructure to conduct and enable theater and global operations. HII designs, develops, integrates and manages the sensors, systems and other assets to support ISR operations and accelerated decision making for the U.S. Department of Defense (DOD), the combatant commands and the intelligence community. HII employees are proudly supporting U.S. DOD commands and allied nations across 74 countries, united by a shared mission to strengthen U.S. national defense and deliver the strategic advantages that safeguard global peace and freedom. About HII HII is a global, all-domain defense provider. HII’s mission is to deliver the world’s most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world. As the nation’s largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML 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/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/24fbdbb2-0259-41d5-a13a-286bb397fdd4

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