BAE Systems (BAESY) was awarded a $155.89M firm-fixed-price contract action for maintenance, modernization and repair of USS Somerset fiscal 2025 Docking Selected Restricted Availability. The scope of this acquisition includes all labor, supervision, equipment, production, testing, facilities, and quality assurance necessary to prepare for and accomplish the Chief of Naval Operations Availability for critical modernization, maintenance, and repair programs. This contract includes options, which, if exercised, would bring the cumulative value of this contract to $178.36M. Work is expected to be completed by January 2027. This contract was competitively solicited using full and open competition via the System for Award Management website, with one offer received. Naval Sea Systems Command is the contracting activity.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BAESY:
- BAE Systems upgraded to Buy from Underperform at BofA
- Defense tech startup Anduril raises $2.5B in new funding round, TechCrunch says
- BAE Systems awarded $1.2B contract from U.S. Space Systems Command
- BAE Systems awarded $30M from U.S. Navy for AN/APX-123A Common Transponder
- BAE Systems price target raised to 2,100 GBp from 1,850 GBp at JPMorgan
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue