This modification adds modest revenue visibility through 2028 for RTX's missile defense business. Monitor future task order obligations under the extended ceiling to gauge pace of revenue recognition. The sole-source nature and existing relationship with MDA reduce execution risk.
Price Chart
Executive Summary
Raytheon Co., a subsidiary of RTX Corp, received a $394M contract modification from the Missile Defense Agency to extend support for AN/TPY-2 radar systems by two years. The modification increases the contract ceiling by $394M and includes $112.3M in immediate obligated funds, representing a routine but notable addition to RTX's defense backlog.
Key Financial Metrics
Key Facts
- Contract modification (P00038) under IDIQ contract HQ0147-18-D-0001
- Award value: $394,000,000 (ceiling increase from $2.605B to $2.999B)
- Immediate obligated funding: $112,309,403
- Two-year extension through Oct 31, 2028
- Sole-source acquisition, non-competitive
- Work supports AN/TPY-2 radar systems for Missile Defense Agency
- RTX reported Q3 2026 revenue of $24.965B; annualized revenue ~$99.86B
- Award represents ~0.39% of annualized revenue
Financial Impact
$394M contract ceiling increase; $112.3M immediately obligated; ~0.39% of annualized revenue
Risk Factors
- Funding subject to annual appropriations; fiscal 2027 funds are obligated but future years depend on budget
- Cost-plus contract elements may limit margin upside relative to fixed-price work
- Modification is incremental to existing program, not a new competitive win
Investment Themes
Documents Analyzed
This report is based on 1 federal contract record from official U.S. government contract data.
| Document | Accession Number |
|---|---|
| GOVT-CONTRACT Data (Synthetic) | contract-HQ014718D0001 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 6d ago | GOVT-CONTRACT | $191.01 | awaiting T+5 | — | $194.60 (+1.88%) |
Oct 21, 2026 7d ago | GOVT-CONTRACT | $194.71 | awaiting T+5 | — | $194.60 (−0.06%) |
Oct 20, 2026 7d ago | 8-K | $193.34 $196.76 | ▲ +1.77% | ▲ +1.74% | $194.60 (+0.65%) |
Oct 20, 2026 7d ago | Press Release | $193.34 $194.60 | ▲ +0.65% | ▲ +0.57% | $194.60 (+0.65%) |
Oct 16, 2026 11d ago | Institutional Cluster | $192.11 $197.48 | ▲ +2.80% | ▲ +2.94% | $194.60 (+1.30%) |
Oct 13, 2026 15d ago | GOVT-CONTRACT | $186.47 $191.60 | ▲ +2.75% | ▲ +2.30% | $194.60 (+4.36%) |
Oct 12, 2026 15d ago | Press Release | $186.66 $192.11 | ▲ +2.92% | ▲ +4.41% | $194.60 (+4.25%) |
Oct 1, 2026 26d ago | Press Release | $184.68 $185.97 | ▲ +0.70% | ▼ −0.46% | $194.60 (+5.37%) |
Sep 28, 2026 29d ago | Press Release | $186.94 $183.29 | ▼ −1.95% | ▼ −3.90% | $194.60 (+4.10%) |
Sep 28, 2026 4w ago | Court Ruling | $186.94 $183.29 | ▼ −1.95% | ▼ −3.90% | $194.60 (+4.10%) |
US Market Status
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