Boeing Wins Pentagon Contracts Worth Close to $100 Million

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Boeing (NYSE: BA  ) won (pieces of) two contracts awarded by the Department of Defense Thursday, contracts that could produce close to $99.7 million in combined revenue for the company and its partners.

The larger of the two awards, won by the Boeing-Textron (NYSE: TXT  ) joint venture Bell-Boeing Joint Project Office, takes the form of a $60.2 million modification to a previously awarded contract to produce production lots 17 to 21 of the V-22 Osprey tiltrotor aircraft for the U.S. Navy. Specifically, the modification orders Boeing to deliver one extra MV-22 Osprey to the U.S. Marine Corps by November 2016, in accordance with a "Variation in Quantity" clause in the original contract.

The smaller award, worth $39.5 million to Boeing (and not shared with anyone), likewise modifies a preexisting contract. Here, Boeing is asked to supply the Air Force with 1,601 tailkits -- used to turn "dumb bombs" into smart bombs -- for affixing to Joint Direct Attack Munitions (JDAM). This modification increases the total value of Boeing's Lot 17 production of the JDAM tailkits to $141.9 million. Delivery of the additional tailkits is expected by March 31, 2015.

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9/29/2016 4:00 PM
BA $131.03 Down -1.20 -0.91%
Boeing CAPS Rating: ****
TXT $39.50 Down -0.68 -1.69%
Textron CAPS Rating: ****