Leonardo DRS Wins $39.6M Navy Contract for JTT-X Communications
DRS is trading near its 52-week low of $32.43 (11% above the low).
Summary
Leonardo DRS secured a $39.6 million contract from NAVAIR to produce and deliver Joint Tactical Terminal Transceiver (JTT-X) units for the EA-18G Growler. The award includes non-recurring engineering, production, integration, and qualification work. This follows a $96 million MK 41 electronics contract announced four days ago, reinforcing a steady stream of defense orders. The JTT-X is a critical upgrade to the Navy's layered communications architecture, supporting resilient SATCOM and threat awareness in contested environments. The contract is modest relative to the company's $9.6 billion market cap but adds to backlog and demonstrates continued Navy confidence.
At the time of this announcement, DRS was trading at $36.00 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $9.6B. The 52-week trading range was $32.43 to $50.59. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.