GD - GD Electric Boat lands $1.08B contract modification for submarines from U.S. Navy

May, 24 2023 10:03 AM General Dynamics Corporation

2023-05-24 10:03:32 ET

General Dynamics ( NYSE: GD ) said Wednesday its Electric Boat unit received a $1.076 billion contract modification from the U.S. Navy.
As per the contract modification, the unit will provide long-lead-time material and advanced construction for Virginia-class fast-attack submarines.
The contract modification will enable the unit to purchase materials and major components for hulls 812 and 813.
The Electric Boat unit is presently under contract for the construction of submarines in Block V of the class.
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Company Name:	General Dynamics Corporation
Stock Symbol:	GD
Market:	NYSE