Yahoo Finance Maxar (MAXR) Secures Contract Renewal for Satellite Imagery
Maxar Technologies Inc. MAXR recently secured an Option Year 2 contract renewal from the U.S. National Geospatial-Intelligence Agency (“NGA”) for the Global Enhanced GEOINT Delivery (“G-EGD”) program.
Headquartered in Westminster, CO, Maxar is a partner and innovator in Earth Intelligence and Space Infrastructure. The contract, which is valued at $44 million, commenced on Sep 1. This is the second of three option years for the contract, which has a total value of up to $176 million.
The NGA offers geospatial intelligence that provides an advantage to policymakers, warfighters, intelligence professionals and first responders. Maxar will continue to provide more than 400,000 U.S. government users with on-demand access to high-resolution commercial imagery.
Maxar’s shares have gained 9.4% in the past year compared with the industry’s rally of 39.2%.
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The G-EGD platform provides U.S. and allied users with access to geospatial intelligence from several industry providers located globally. Since 2011, the G-EGD program has enabled warfighters, first responders, intelligence analysts and civil government users to tap into Maxar’s imagery for mission-critical operations.
There is significant potential for growth among three key components of Maxar’s addressable market — the U.S. government, other governments and commercial customers. For both the United States and other governments, key growth drivers include global security threats, defense budgets, demand for high-quality imagery and value-added services, and a focus on space as an investment.
The company continues to align its products and services with the U.S. Department of Defense’s National Defense Strategy needs, and growing international defense and intelligence demand.
For civil customers, particularly NASA, growth is being supported by space exploration programs such as Artemis and Earth science projects. For commercial customers, key catalysts include strong demand for imagery on account of new use cases enabled by artificial intelligence, machine learning and space-based remote sensing.
Maxar continues to make progress toward achieving its long-term targets, including efforts to drive sustainable growth in both the Earth Intelligence and Space Infrastructure segments.
The stock currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader industry are Arista Networks, Inc. ANET, Ooma, Inc. OOMA and SeaChange International, Inc. SEAC, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Arista has a trailing four-quarter earnings surprise of 6%, on average.
Ooma pulled off a trailing four-quarter earnings surprise of 55.2%, on average.
SeaChange has a trailing four-quarter earnings surprise of 28.9%, on average.
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