Graham Corp Wins Over $65M in Defense and Space Contracts
Portfolio Pulse from Benzinga Newsdesk
Graham Corporation (NYSE:GHM) has secured over $65 million in defense and space contracts, including support for the MK48 Mod 7 Heavyweight Torpedo program, the MK19 air turbine pump for Columbia-class submarines, and a cryogenic recirculation pump for space launch vehicles. Revenue from these contracts will be recognized over the next three to eight years.
August 05, 2024 | 10:57 am
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Graham Corporation has secured over $65 million in new contracts in the defense and space sectors. These contracts include support for the MK48 Mod 7 Heavyweight Torpedo program, the MK19 air turbine pump for Columbia-class submarines, and a cryogenic recirculation pump for space launch vehicles. Revenue from these contracts will be recognized over the next three to eight years.
The new contracts significantly enhance Graham Corporation's revenue outlook and market position in the defense and space sectors. The long-term nature of the revenue recognition (3-8 years) provides a stable financial outlook, likely leading to positive investor sentiment and a potential short-term stock price increase.
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