RTX said that the contract funds production of conventional take-off and landing, carrier variant, and short take-off and vertical landing F135 engines for the U.S. and international customers.
RTX (RTX) announced on Tuesday its Pratt & Whitney unit was awarded a $2.8 billion undefinitized contract action (UCA) for production of F135 engines, which power all three variants of the F-35 Lightning II 5th generation fighter aircraft.
Retail sentiment on RTX remained unchanged in the ‘neutral’ territory, with message volumes at ‘normal’ levels, according to data from Stocktwits.
RTX said that the contract funds production of conventional take-off and landing, carrier variant, and short take-off and vertical landing F135 engines for the U.S. and international customers. It also includes spare engines, spare modules, program management, tooling, engineering, and production support.
The engines are for the development of Lot 18 jets being produced by Lockheed Martin (LMT), which was awarded $11.8 billion Navy Contract Modification for Lot 18 F-35 Production.
“The combat-proven F135 engine delivers the power, safety, reliability, and low-observability to ensure operators can accomplish their most critical missions. The F135 is ultimately an investment in mission assurance, providing the warfighters of today and tomorrow the technological edge to fight and win,” said Christopher K. Johnson, Pratt & Whitney’s vice president for the F135 program.
RTX said to date, Pratt & Whitney has delivered more than 1,300 F135 production engines to a global enterprise that includes 20 allied nations.
Shares of RTX were up 1% in early trading after the United States Secretary of Commerce Howard Lutnick told CNBC that the Department of Defense is “thinking” about taking equity stakes in defense contractors.
RTX shares were up nearly 37% this year and have jumped over 32% in the last 12 months.
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