GE Aerospace Wins Deal From U.S. Air Force to Supply F110 Engines

GE Aerospace GE recently secured an Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Air Force to deliver F110-GE-129 engines for the latter’s F-15 and F-16 aircraft that are managed by allied nations across the globe. The deal is valued at $5 billion.GE’s F110 engine is a well-known and proven platform for its performance and reliability in military applications. The engine has lodged more than 11 million flight hours and holds the record for the highest thrust in its class. It also marked a milestone of 40 years of uninterrupted production and improvement.Per the latest deal, GE will supply engines and spare parts to the U.S. Air Force. The company will also be responsible for providing associated services. The latest order is a testimony to the long-standing collaboration between GE Aerospace and the U.S. Air Force.Lately, GE has received a series of deals, which are likely to drive its growth. In January, the company secured a contract from the Polish Armed Forces to deliver 210 T700 engines for the latter’s 96 Boeing AH-64E Apache Guardian helicopters.Also, in June 2024, GE Aerospace received an IDIQ contract from the U.S. Army for the continued manufacturing of up to 950 T700 engines. This will support the requirements of the Air Force, Army, Navy, Marines, Coast Guard and Foreign Military Sales programs through 2029.GE’s Zacks Rank & Price PerformanceThe company currently sports a Zacks Rank #1 (Strong Buy). GE Aerospace is benefiting from a growing installed base and higher utilization of engine platforms, driven by strong momentum and growth across commercial and defense sectors. Rising U.S. & international defense budgets, geopolitical tensions, positive airline and airframer dynamics, and robust demand for commercial air travel augur well for the company.In the past three months, the company’s shares have gained 22.6% against the industry’s 4.3% decline.Image Source: Zacks Investment ResearchOther Stocks to ConsiderOther top-ranked companies are discussed below.Frontier Group Holdings, Inc. ULCC currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.Frontier delivered a trailing four-quarter average earnings surprise of 1.1%. In the past 60 days, the Zacks Consensus Estimate for ULCC’s 2025 earnings has increased 43.1%.SkyWest, Inc. SKYW presently sports a Zacks Rank of 1. The company delivered a trailing four-quarter average earnings surprise of 17.6%.In the past 60 days, the Zacks Consensus Estimate for SKYW’s 2025 earnings has increased 7.7%.Ryanair Holdings plc RYAAY currently carries a Zacks Rank #2 (Buy). RYAAY delivered a trailing four-quarter average earnings surprise of 44.5%.In the past 60 days, the consensus estimate for Ryanair’s fiscal 2025 earnings has increased 4.4%.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report GE Aerospace (GE): Free Stock Analysis Report SkyWest, Inc. (SKYW): Free Stock Analysis Report Frontier Group Holdings, Inc. (ULCC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks