The Boeing Co. (BA - Free Report) has won a modification contract, worth $100.4 million, from the U.S. Navy to provide support services for the production of Lot 8 P-8A Multi-mission Maritime Aircraft. Contracting activity is the Naval Air Systems Command, Patuxent River, MA.
Per the contract, Boeing will supply long-lead parts and efforts related to the manufacture of four full-rate production P-8A aircraft. Note that the U.S. Department of Defense (DoD) has a cooperative engagement agreement with the government of Australia for the aircraft.
Work is scheduled to be complete by Jun 2017. The company will carry out the majority of the work in Seattle, WA, while the rest will be performed in Baltimore, MA; Greenlawn, NY; North Amityville, NY; and Cambridge, UK. The contract will use Cooperative engagement agreement funds.
Boeing’s P-8A Multi-mission Maritime aircraft, also known as Poseidon, is a long-range anti-submarine warfare, anti-surface warfare, intelligence, surveillance and reconnaissance aircraft developed specifically for the U.S. Navy. It is also capable of executing broad-area maritime and littoral operations.
We note that Boeing witnesses a steady flow of contracts from the DoD. It is one of the major players in the defense business. Its defense business stands out among its peers by virtue of its broadly diversified programs, strong order bookings and solid backlog.
Internationally, the company is witnessing strong demand for its defense products. Amid a volatile budget environment, an increase in FMS contracts is more than welcome. In 2015, non-U.S. customers accounted for approximately 59% of Boeing’s revenues.
Boeing currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the aerospace and defense industry include Lockheed Martin Corp. (LMT - Free Report) , Northrop Grumman Corp. (NOC - Free Report) and General Dynamics Corp. (GD - Free Report) , each carrying a Zacks Rank #2 (Buy).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The Boeing Co. (BA - Free Report) has won a modification contract, worth $100.4 million, from the U.S. Navy to provide support services for the production of Lot 8 P-8A Multi-mission Maritime Aircraft. Contracting activity is the Naval Air Systems Command, Patuxent River, MA.
Per the contract, Boeing will supply long-lead parts and efforts related to the manufacture of four full-rate production P-8A aircraft. Note that the U.S. Department of Defense (DoD) has a cooperative engagement agreement with the government of Australia for the aircraft.
Work is scheduled to be complete by Jun 2017. The company will carry out the majority of the work in Seattle, WA, while the rest will be performed in Baltimore, MA; Greenlawn, NY; North Amityville, NY; and Cambridge, UK. The contract will use Cooperative engagement agreement funds.
Boeing’s P-8A Multi-mission Maritime aircraft, also known as Poseidon, is a long-range anti-submarine warfare, anti-surface warfare, intelligence, surveillance and reconnaissance aircraft developed specifically for the U.S. Navy. It is also capable of executing broad-area maritime and littoral operations.
We note that Boeing witnesses a steady flow of contracts from the DoD. It is one of the major players in the defense business. Its defense business stands out among its peers by virtue of its broadly diversified programs, strong order bookings and solid backlog.
Internationally, the company is witnessing strong demand for its defense products. Amid a volatile budget environment, an increase in FMS contracts is more than welcome. In 2015, non-U.S. customers accounted for approximately 59% of Boeing’s revenues.
Boeing currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the aerospace and defense industry include Lockheed Martin Corp. (LMT - Free Report) , Northrop Grumman Corp. (NOC - Free Report) and General Dynamics Corp. (GD - Free Report) , each carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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