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Amentum secures $105 million Navy contract

Published 12/09/2024, 08:24 AM
AMTM
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CHANTILLY, Va. - Amentum, a $5.6 billion market cap company specializing in engineering and technology solutions, has secured a $105 million contract to enhance the U.S. Navy's Airborne Electronic Attack Systems and Intelligence, Surveillance, and Reconnaissance (ISR) capabilities. According to InvestingPro data, the company maintains strong financial health with annual revenue exceeding $5.6 billion. The contract, awarded by the Naval Surface Warfare Center Crane (NSWC Crane), focuses on replacing outdated components with advanced technology to bolster national security measures.

The contract involves research, development, test, and evaluation (RDT&E) engineering to improve the lifecycle management of surveillance systems, including integration with various platforms and vehicles, sensor integration, and supply chain security. Amentum will also address obsolescence analysis and anti-tamper technologies.

Mark Walter, President of Amentum Engineering & Technology group, highlighted the company's use of its digital engineering ecosystem and model-based system engineering expertise to reinforce EW/ISR capabilities and provide essential protection for warfighters.

The contract was awarded through the Department of Defense Information Analysis Center's (DoDIAC) multiple-award contract vehicle, managed by the U.S. Air Force's 774th Enterprise Sourcing Squadron. The task order has a 60-month term and operates on a cost-plus/fixed-fee basis. The primary place of performance for the contract is Crane, Indiana.

The DoDIAC program, sponsored by the Defense Technical Information Center, has been supporting the Department of Defense and federal government since 1946 by providing technical data management and research support.

Amentum, headquartered in Chantilly, Virginia, employs over 53,000 people across approximately 80 countries. The company is recognized for addressing significant challenges in science, security, and sustainability for the United States and its allies.

This contract is part of Amentum's ongoing efforts to maintain technological superiority in the face of emerging and evolving threats. With analysts projecting continued growth and setting price targets above current levels, the company appears well-positioned in its sector. For detailed financial analysis and additional insights, including more than 8 exclusive ProTips, visit InvestingPro. The information provided is based on a press release statement from Amentum and InvestingPro data.

In other recent news, Amentum, a global engineering and technology solutions provider, has secured a $3 billion contract from the Department of Energy for the cleanup of the West Valley Demonstration Project in New York state. The company also recently won a $490 million contract from the U.S. Navy for the T-54A Multi Engine Training System and a contract with NASA valued at up to $256 million. These recent contracts highlight Amentum's commitment to providing advanced engineering and technology solutions.

In corporate developments, Amentum has appointed Darren Burton as its new Chief People Officer and Stephen A. Arnette as the new Chief Operating Officer. The company has also implemented a new Severance Plan for Key Employees and finalized employment contracts for top executives.

Truist Securities initiated coverage on Amentum's shares with a Buy rating, citing potential value creation following Amentum's merger with Jacobs CMS/C&I businesses. The firm believes that Amentum's current enterprise value to EBITDA discount could narrow in the next two years.

These are recent developments that may influence investment decisions. As always, investors are advised to rely on factual information and analyst prognostications when making their investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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