Curtiss-Wright Wins $40M Leidos Contract for Army Air Defense System
CW sits 28% above its 52-week low of $465.51.
Summary
Curtiss-Wright secured $40 million in contracts from Leidos to supply electromechanical actuation and mission computers for the U.S. Army's IFPC Inc 2 air defense system. The work spans its Aerospace & Industrial and Defense Electronics segments and supports Indo-Pacific operations, including Guam defense. This award adds to a $4.5 billion backlog and follows strong Q2 results with raised guidance. The contract is modest relative to the company's $22 billion market cap but reinforces its position in high-growth defense programs.
At the time of this announcement, CW was trading at $596.37 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $22B. The 52-week trading range was $465.51 to $808.16. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.