HII Wins $418M Navy Elevator Support Contract, Beats Q1 Estimates
HII•HII reported Q1 2026 revenue of $3.1B with EPS of $3.79, beating consensus, and Newport News segment revenue rose 19% to $1.665B. The company also secured a $418M five-year IDIQ contract to maintain shipboard elevators on U.S. Navy carriers and amphibious ships through 2031.
1. Q1 2026 Earnings Beat
HII delivered Q1 revenue of $3.1 billion and EPS of $3.79, both above consensus estimates. The Newport News segment saw a 19% revenue increase to $1.665 billion driven by higher volumes in naval nuclear support, aircraft carrier construction and submarine programs.
2. $418M Navy Elevator Support Contract
HII’s Mission Technologies division secured a five-year, indefinite delivery/indefinite quantity contract valued at $418 million to engineer, maintain and repair shipboard elevators and cargo handling systems on U.S. Navy aircraft carriers and amphibious ships through June 2031, including sailor training and rapid-response teams.
3. Backlog and Outlook
This award bolsters HII’s service backlog and underpins future free cash flow generation as the company continues life-cycle support for over 40 years of fleet maintenance expertise. With a 44,000-strong workforce and global deployment capabilities, HII is positioned to sustain high readiness levels for the U.S. fleet.
