Teledyne Bags $31M Contract To Provide Cerberus XL Counter-Drone Surveillance Platform For Ukraine

Teledyne Technologies Inc's TDY subsidiary Teledyne FLIR Defense inked a deal with Kongsberg Defence & Aerospace, Norway, worth around $31 million.

Under the contract, the company will offer its Cerberus XL mobile counter-unmanned aerial system (UAS) as part of a total C-UAS solution for Ukraine. 

The deal includes delivery of the surveillance platforms, software, spares, support, and training. 

"Teledyne FLIR is proud to partner with Kongsberg in delivering our next-generation Cerberus XL as part of a complete and robust system to protect Ukraine's warfighters. We have a long history of providing state-of-the-art imaging solutions to Kongsberg, and this important joint effort only strengthens our relationship," said Dr. JihFen Lei, executive vice president and general manager.

In July, Teledyne FLIR Defense won a five-year Indefinite Delivery, Indefinite Quantity contract worth up to $93.9 million.

TDY reported Q2 FY23 sales growth of 5.1% Y/Y to $1.425 billion, beating the consensus of $1.410 billion. Adjusted EPS was $4.67, above the consensus of $4.64.

Price Action: TDY shares are trading lower by 0.10% at $415.72 on the last check Tuesday.