Look Who's Upgrading America's Nuclear Forces Now
RTX just won an $8 billion nuclear contract. How big a deal is that for RTX stock?
Raytheon, the company behind RTX (RTX +1.82%), has secured an $8 billion contract from the U.S. Air Force to modernize nuclear weapons systems. The Air Force Nuclear Weapons Center (AFNWC) in New Mexico is responsible for managing America's strategic nuclear deterrent, and this contract will see RTX restart production of modernized Strategic Communications Terminals.
The contract, awarded on October 13, 2023, has an initial award of $800,000 and a potential value of $8 billion over 10 years. Although this represents only a small fraction of RTX's $96 billion in annual revenue, the contract could potentially add around $90 million in annual operating profit.
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