Pratt & Whitney Secures $6.6 Billion F135 Engine Contract for Lots 18-19
RTX sits 68% above its 52-week low of $112.27.
Summary
RTX's Pratt & Whitney division has been awarded a significant $6.6 billion contract to definitize F135 engine production Lots 18-19. This award follows a $3.81 billion contract extension for F135 production reported yesterday, which is likely the $3.8 billion modification mentioned in the article body. The $6.6 billion figure represents the comprehensive value for the finalization of these production lots, providing a more complete picture of the contract's scope. This substantial contract significantly enhances RTX's already robust backlog, which stood at $268 billion as of its last 10-K, and provides strong revenue visibility for its defense segment. It underscores Pratt & Whitney's critical role as a key supplier for the F-35 program.
At the time of this announcement, RTX was trading at $189.05 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $251.2B. The 52-week trading range was $112.27 to $214.50. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.