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Boeing Lands $106.2 Million in New Pentagon Contracts

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On Friday, the Department of Defense awarded Boeing (NYSE: BA  ) two contracts worth a combined $106.2 million.

The first, and by far the larger, contract awards Boeing $99 million in the form of a "firm-fixed-price, cost-plus-fixed-fee and indefinite-quantity/indefinite-delivery contract" to supply the Air Force with Joint Direct Attack Munitions. As an IDIQ contract, these munitions (actually, guidance kits affixed to bombs) will be ordered on an as-needed basis, with Boeing getting paid as specific orders are fulfilled between now and the contract's expiration on Jan. 31, 2016.

The second, and smaller, contract, for $7.2 million, is a firm-fixed-price modification of an existing contract for the provision of logistics support for Apache Block III attack helicopters. Work on this contract is due to be completed Nov. 30, 2014.

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9/27/2016 9:42 AM
BA $130.79 Up +0.22 +0.17%
Boeing CAPS Rating: ****