PAE - PAE STOCK NEWS

PAE (NASDAQ: PAE, PAEWW) has been awarded a position on a seven-year, $800 million contract by the U.S. Agency for International Development (USAID) for Global Architect-Engineer Services III. The contract will enable PAE to provide essential infrastructure services including planning, engineering design, and construction supervision. PAE aims to support USAID’s initiatives with technical expertise across various sectors such as water, transportation, and energy. This opportunity positions PAE among seven large contractors set to compete for task orders in global infrastructure projects.

PAE (NASDAQ: PAE, PAEWW) announced a significant contract award from Naval Facilities Engineering Systems Command Far East for base operating support services at Marine Corps Air Station Iwakuni, Japan. Valued at up to ¥8.18 billion (approximately $74.2 million), the contract includes a 12-month base period with potential extensions to June 2026. PAE aims to leverage its expertise and established presence in Japan to support Marine Corps missions effectively. This award aligns with PAE's strategy to enhance service delivery in the Asia Pacific region.

PAE will host a webcast and conference call at 8 a.m. ET on August 5, 2021, to discuss its Q2 2021 financial results. A press release will precede the call, and an archive of the webcast will be available on the PAE Investor Relations website. Due to increased call volumes from the COVID-19 pandemic, PAE recommends joining via the webcast. Participants can also dial in to listen.

PAE (NASDAQ: PAE, PAEWW) has secured a task order valued at up to $30 million for aviation maintenance and logistics supporting the U.S. Army's 1106^th Theater Aviation Sustainment Maintenance Group in Fresno, California. This contract is crucial for the company's operational growth and emphasizes its nearly four decades of experience with U.S. government aviation needs. The task order has a base period until June 2022, with potential extensions up to June 2024, ensuring ongoing support for U.S. Army aircraft maintenance and logistics.

PAE (NASDAQ: PAE, PAEWW) has been awarded a significant contract by the U.S. Air Force, valued at up to $950 million over 13 years, as one of 22 contractors on an indefinite delivery, indefinite quantity contract for foreign military sales. The contract covers services such as engineering assessments, hardware procurement, and logistics support for foreign military fleets. Interim President and CEO Charlie Peiffer highlighted PAE's custom solutions and expertise for Air Force objectives. Work will be conducted at various locations and involves a 10-year ordering period followed by three years of performance.

PAE (NASDAQ: PAE, PAEWW) has been awarded a five-year, $12.8 million contract by USAID to enhance agricultural infrastructure in Bangladesh. This initiative aims to modernize rural infrastructure, including roads, irrigation systems, and market centers, to boost farmers' livelihoods and access to markets. PAE's expertise will focus on strengthening local government capacity to plan and maintain these infrastructure improvements, contributing to sustainable agricultural practices.

PAE Incorporated reported robust first-quarter 2021 results, with revenues of $748.6 million, marking a 21.3% increase year-over-year. The operating income was $26.2 million and net income stood at $13.4 million, equating to $0.14 per diluted share. Notably, adjusted EBITDA was $47.0 million with a margin of 6.3%. Cash flows from operations reached $55.4 million. The company maintains its 2021 financial guidance, projecting revenues between $3,050 million and $3,150 million.

FALLS CHURCH, Va., April 29, 2021 – PAE (NASDAQ: PAE, PAEWW) will host a webcast and conference call at 8 a.m. ET on May 6, 2021, to discuss its Q1 2021 financial results. A press release will be issued before the call, and an archived webcast will be available on the PAE Investor Relations website for a year. Participants can join via the website or call in using the provided numbers. PAE has over 20,000 employees globally, providing critical operational support services to the U.S. government and allies for over 65 years.

PAE Announces New Board Appointments

On April 15, 2021, PAE (NASDAQ: PAE, PAEWW) appointed Mary M. Jackson and Delara Zarrabi to its Board of Directors. Jackson, a retired Vice Admiral with over 30 years in the U.S. Navy, brings extensive experience in customer relations and strategic guidance. Zarrabi is a managing director at Platinum Equity, enhancing the Board's expertise in corporate finance and mergers & acquisitions. This move is part of PAE's commitment to board diversity and aims to support its strategy for growth, particularly in high-margin contracts.