V2X Wins Up to $500M Air Force Contract for C-12 Fleet

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โดย Insider Monkey·US·Read original
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V2X Inc. announced on August 4 that it has been awarded an indefinite-delivery/indefinite-quantity contract worth up to $500 million from the US Air Force to continue servicing the C-12 Huron fleet through June 2031. The award follows the company's second-quarter results, which showed revenue of $1.26 billion, up 17% year over year, and adjusted diluted earnings per share of $1.64, up 23%. Management raised its full-year 2026 outlook on revenue, adjusted EBITDA, and adjusted EPS, while net debt fell to $876.1 million, an improvement of $71.4 million from a year earlier. Total backlog stood at $12.7 billion as of July 3, 2026, with $2.5 billion funded. However, the company's adjusted EBITDA margin was only 7.1%, and book-to-bill for the quarter was about 0.5x, though the trailing twelve-month figure was roughly 1.4x. The C-12 contract is a firm fixed price agreement, meaning V2X absorbs cost overruns over its six-year term. The stock trades at a forward P/E of 11.51 as of September 2, with short interest at 8.09% of float.

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Wins up to $500M Air Force contract for C-12 fleet, boosting backlog and revenue outlook.

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