Leidos awarded $22.9 million Navy contract for combat systems

Investing.com -- Leidos Inc. (NYSE: LDOS) has received a $22.9 million contract modification from the U.S. Navy to install AN/SQQ-89 surface ship undersea warfare combat systems.

The cost-plus-fixed-fee and cost-only modification exercises options on a previously awarded contract (N00024-22-C-5231) to the Reston, Virginia-based company.

Work will be carried out across multiple locations, with 51% performed in Chesapeake, Virginia and 37% in San Diego, California. Additional work will take place in Yokosuka, Japan (3%), Bath, Maine (3%), Pascagoula, Mississippi (3%), Mayport, Florida (2%), and Seattle, Washington (1%).

The project is scheduled for completion by May 2026.

The Navy will fund the contract through various sources, with fiscal 2025 other procurement funding accounting for $5.6 million (50%) of the total. Additional funding comes from shipbuilding and conversion allocations from fiscal years 2020 through 2024, along with other procurement and operations and maintenance funds.

Of the $11.1 million being obligated at the time of award, approximately $1.4 million will expire at the end of the current fiscal year.

Naval Sea Systems Command in Washington, D.C. is overseeing the contract.

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