Leonardo DRS Awarded $417M Contract By U.S. Navy For Electronic Combat Control And Sonar Systems On Submarines
Portfolio Pulse from Benzinga Newsdesk
Leonardo DRS has been awarded a $417 million contract by the U.S. Navy to provide electronic combat control and sonar systems for submarines.
July 31, 2024 | 8:35 pm
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Leonardo DRS has secured a significant $417 million contract with the U.S. Navy to supply electronic combat control and sonar systems for submarines. This contract is likely to boost the company's revenues and strengthen its position in the defense sector.
The $417 million contract with the U.S. Navy is a substantial deal for Leonardo DRS, likely to enhance its revenue stream and solidify its standing in the defense industry. The contract's size and the strategic importance of the systems involved suggest a positive short-term impact on the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100