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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BAE Systems plc    BA.   GB0002634946

BAE SYSTEMS PLC

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BAE : U.S. Navy awards $76.3 million contract for USS Stout's maintenance

11/19/2020 | 07:59am EST

The docking selected restricted availability (DSRA) contract for the Norfolk-based destroyer includes options that, if exercised, would bring the cumulative value to $100.5 million.

BAE Systems' Norfolk shipyard
will begin working aboard the 510-foot-long ship in January 2021. Under the awarded DSRA contract, BAE Systems will drydock the ship; perform hull, tank and mechanical work; install upgraded electronic and electrical systems; and make other shipboard improvements.

'Our team of employees, subcontractors and Navy personnel are working hard to sustain the workhorse of the fleet - the Arleigh Burke class destroyer,' said Mark Whitney, deputy general manager of BAE Systems Ship Repair and general manager of Norfolk Ship Repair. 'We look forward to applying our vast experience to modernize the USS Stout, so that its crew members can do their jobs in defense of our nation for many years to come.'

The USS Stout is named in honor of U.S. Navy Rear Admiral Herald F. Stout (1903-1987). During World War II, then-Commander Stout commanded a destroyer that was assigned to the Little Beaver squadron under then-Commodore Arleigh Burke. He earned two Navy Cross medals for command of the ship. The Stout became the fifth ship of the Arleigh Burke class of guided-missile destroyers, which now numbers 68 ships.

BAE Systems is a leading provider of ship repair, maintenance, modernization, conversion, and overhaul services for the Navy, other government agencies, and select commercial customers. The company operates four full-service shipyards in California, Florida, Hawaii, and Virginia, and offers a highly skilled, experienced workforce, seven dry-docks/railways, and significant pier space and ship support services. The company's Norfolk shipyard has approximately 1,250 employees and works with the Navy and several subcontractor companies to accomplish its sustainment work.

128/2020

Disclaimer

BAE Systems plc published this content on 18 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 12:58:09 UTC


© Publicnow 2020
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Financials
Sales 2020 20 350 M 27 943 M 27 943 M
Net income 2020 1 226 M 1 683 M 1 683 M
Net Debt 2020 3 755 M 5 155 M 5 155 M
P/E ratio 2020 12,7x
Yield 2020 4,89%
Capitalization 15 431 M 21 184 M 21 189 M
EV / Sales 2020 0,94x
EV / Sales 2021 0,88x
Nbr of Employees 88 400
Free-Float 92,3%
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 598,82 GBX
Last Close Price 479,90 GBX
Spread / Highest target 62,7%
Spread / Average Target 24,8%
Spread / Lowest Target -15,9%
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Managers and Directors
NameTitle
Charles Nicolas Woodburn Group Chief Executive Officer & Director
Roger M. Carr Chairman
Brad Greve Group Finance Director & Director
Steve N. Millward Chief Information Officer
Benjamin Hudson Chief Technology Officer
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