General Dynamics (GD) was awarded a not-to-exceed $1.85B undefinitized contract action modification to a previously awarded contract for long lead time material and preliminary construction efforts associated with Virginia-class Block VI submarines. Work is expected to be completed by September 2035. Fiscal 2025 shipbuilding and conversion funds in the amount of $1.68B will be obligated at the time of award and will not expire at the end of the current fiscal year. Naval Sea Systems 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 GD:
- General Dynamics Information Technology awarded $580M task order
- Trump Trade: Fannie, Freddie ordered to explore crypto as federal mortgage asset
- Trump looks to buy more missiles, drones in budget request, Reuters says
- NATO Allies commit to invest 5% of GDP annually on core defense requirements
- General Dynamics price target raised to $300 from $290 at TD Cowen