Curtiss-Wright (CW) Secures $24M Contract for FTI Equipment
Curtiss-Wright Corporation CW recently announced that it has been awarded a $24 million contract from Nellis Air Force Base. Per the contract, CW will provide Flight Test Instrumentation (FTI) equipment in support of the F-35 Technology Refresh 3 (TR-3) program. This TR-3 program includes a series of upgrades to the hardware and software of the F-35 to support future modernization capabilities.
To define and architect the Distributed Flight Test Instrumentation (DFTI) system that enables the test and evaluation of F-35 TR-3 configured aircraft, Curtiss-Wright has collaborated over the past three years with U.S. Flight Test Ranges, including Nellis AFB and the Naval Air Warfare Centre Aircraft Division.
Curtiss-Wright’s FTI is part of the DFTI system where the products and services collect, collate, process, record, transmit, analyze and display the flight test data. To improve test accuracy, data from the system is delivered reliably using flexible systems, and it also allows quick reconfigurations to meet changing demands.
Since 1998, Curtiss-Wright has provided FTI systems that successfully service Nellis AFB and adhere to the strictest standards. Receiving this contract is a testament to CW's cutting-edge and dependable high-speed flight test instrumentation systems as well as to their long-standing relationships and ongoing collaboration with the F-35 Joint Programme Office and the U.S. Flight Test Range engineers and staff.
Deals in Aerospace Defence Market
Some other prominent players with expanding operations in the aerospace defense market are Raytheon Technologies Corp. RTX, Kratos Defense and Security Solutions Inc. KTOS and Astronics Corp. ATRO.
Raytheon Technologies, an aerospace and defense company, provides advanced systems and services for commercial, military and government customers worldwide. It recently signed a deal with the LATAM Airlines Group of South America to supply GTF engines.
The Zacks Consensus Estimate for RTX’s 2023 earnings per share (EPS) indicates year-over-year growth of 5.7%. In the last four quarters, it delivered an average earnings surprise of 6.2%.
Kratos is a technology company that develops products and solutions for the United States National Security. It recently received an $8.6 million contract from the Naval Surface Warfare Center Dahlgren Division to provide the necessary means for thermo-mechanical and aerothermal ground testing of thermal protection system materials.
The Zacks Consensus Estimate for KTOS’ 2023 earnings per share indicates year-over-year growth of 12.9%. In the last four quarters, it delivered an average earnings surprise of 76.9%.
Astronics has recently received commitment from multiple airlines to install the EmPower UltraLite G2 Power System in their cabins.
The Zacks Consensus Estimate for ATRO’s 2023 sales indicates year-over-year growth of 23.9%. The Zacks Consensus Estimate for the bottom line indicates year-over-year growth of 92.8%.
Price Performance
In the past year, shares of Curtiss-Wright have gained 32.3% compared with the industry’s 10.2% increase.
Image Source: Zacks Investment Research
Zacks Rank
Curtiss-Wright currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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
Astronics Corporation (ATRO) : Free Stock Analysis Report
Curtiss-Wright Corporation (CW) : Free Stock Analysis Report
Kratos Defense & Security Solutions, Inc. (KTOS) : Free Stock Analysis Report
Raytheon Technologies Corporation (RTX) : Free Stock Analysis Report
