National Presto Industries, Inc. has announced its Defense segment's significant achievement, as Spectra Technologies, LLC, a subsidiary of Presto's Defense Division Holding Company, received awards from Boeing for the production of warheads for their Small Diameter Bomb program. The total value of these awards amounts to $126.4 million, with deliveries scheduled to commence in the first quarter of 2025 and continue through the fourth quarter of 2026.
The company operates in three business segments, and the Defense segment manufactures various products, including medium caliber training and tactical ammunition, energetic ordnance items, fuzes, cartridge cases, and metal parts.
In the preceding period, the company reported an increase in its Defense segment's revenue, with the total value of the awards received from Boeing standing at $126.4 million. This marks a significant uptick in the segment's performance compared to the previous period.
Furthermore, the company's Housewares/Small Appliance segment is recognized for its innovative products, and the Safety segment offers a range of detectors and early warning systems.
The press release contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These statements are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. The market has reacted to these announcements by moving the company's shares -0.6% to a price of $97.99. For the full picture, make sure to review National Presto Industries's 8-K report.
