9/103 sources · 3 publishersUpdated Oct 8, 13:24 UTC
RTX receives Navy radar production modification worth $511.5M
RTX's Raytheon business received a U.S. Navy contract modification for AN/SPY-6(V) radar equipment and spare parts. The $511.5M award is expected to support work through November 2031, with option exercises affecting the duration.
Why it matters
The modification adds Navy radar production and spares work to RTX's defense business, with performance expected to extend into 2031.
Key facts
- 1The U.S. Navy awarded RTX a $511.5M modification for AN/SPY-6(V) radar hardware production and spares. seekingalpha.com
- 2Work under the award is expected to continue through November 2031. seekingalpha.com
- 3RTX's Raytheon unit received the award from Naval Sea Systems Command in Washington, D.C. theglobeandmail.com
- 4The contract duration depends on the exercise of options. gurufocus.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.