Why Maxar Technologies Stock Is Surging Today

Maxar Technologies Inc MAXR shares are trading higher Wednesday after the company announced it was awarded an Electro-Optical Commercial Layer contract by the U.S. National Reconnaissance Office.

The contract will transition the imagery acquisition requirements currently addressed by the EnhancedView Follow-On and its predecessor contracts, which have been held by Maxar for over two decades.

The new deal is made up of a five-year base contract with five additional years of options through 2032.

Maxar also updated its full-year guidance. The company expects full-year revenue to be between $1.805 billion and $1.855 billion versus the estimate of $1.82 billion. Adjusted EBITDA is expected to be between $455 million and $505 million.

Maxar is a provider of comprehensive space solutions and secure, precise, geospatial intelligence.

See Also: Why BlackSky Technology Shares Are Soaring Today

MAXR Price Action: Maxar has traded between $22.92 and $42.59 over a 52-week period.

The stock was up 15.9% at $28.38 at press time.

Photo: David Mark from Pixabay.