Courtney bristles at proposed cut in U.S. submarine production [Yahoo! Finance]
Huntington Ingalls Industries, Inc. (HII)
Last huntington ingalls industries, inc. earnings: 2/13 07:15 am
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Source: Yahoo! Finance
The administration's $895 million defense budget for fiscal 2025, released Monday, includes $850 million for the Department of Defense, about 1% more than the current budget. It eliminates funding for one of two Virginia-class submarines contained in previous budgets. The submarines are built by Electric Boat in Groton and Huntington Ingalls Industries at Newport News Shipbuilding in Virginia. "At a time when the pace of all of Navy shipbuilding ? manned and unmanned, including carriers, submarines, destroyers, and frigates ? is recovering from the impact of the COVID pandemic and supply chain disruptions, the Navy's plan to cut a submarine that has already been partially paid for and built makes little or no sense," Courtney said in a statement. "If such a cut is actually enacted," Courtney said, "it will remove one more attack submarine from a fleet that is already 17 submarines below the Navy's long stated requirement of 66." He said Electric Boat officials have indicated
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HII
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- 4/3/24 - Form 4
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- 4/3/24 - Form 4
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