$1B Engine Overhaul Deal Awarded to RTX Unit by V2X
VVX sits 66% above its 52-week low of $46.27.
Summary
V2X awarded a $1 billion, nine-year contract to RTX's Pratt & Whitney Canada to overhaul more than 750 PT6A-68 engines for the U.S. Joint Primary Aircraft Training System's T-6 trainer fleet. The deal solidifies V2X's role as the maintenance and supply manager for the military's trainer plane fleet, adding a major, long-duration revenue stream. This follows strong Q1 results and recent contract wins, reinforcing the company's growth trajectory in defense logistics. The work will be performed at Pratt & Whitney's West Virginia plant, leveraging over 40 years of engine maintenance experience.
At the time of this announcement, VVX was trading at $76.74 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.4B. The 52-week trading range was $46.27 to $91.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.