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Joby Aviation (JOBY) to Deliver Additional Jets to the Air Force
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Joby Aviation (JOBY - Free Report) has revealed plans to deliver two aircraft to MacDill Air Force Base (“AFB”) in 2025, as part of its AFWERX Agility Prime contract with the U.S. Air Force (USAF).
MacDill AFB, situated in Tampa, FL, houses significant military units, including the U.S. Special Operations Command, U.S. Central Command and units from the Air Mobility Command. Personnel at MacDill will engage in testing and training activities with the Joby aircraft, both on base and in the surrounding region.
Joby has already delivered one aircraft to Edwards AFB in California in September 2023, with another scheduled for placement this year. Collaboration at Edwards involves close coordination with the 412th Test Wing for testing and experimentation, crucial for informing future operational testing at MacDill AFB.
Under the Agility Prime contract, Joby is set to provide up to nine aircraft to the USAF and other federal agencies. The company achieved a milestone in 2020 by becoming the first eVTOL developer to secure military airworthiness approval for its pre-production prototype aircraft.
JoeBen Bevirt, founder and CEO of Joby Aviation, emphasized the importance of the USAF's early investment and vision in advancing this critical technology. He expressed gratitude to the Department of Defense (DoD) for their ongoing support and leadership in adopting eVTOL technology.
Joby's electric air taxi, designed to accommodate a pilot and four passengers at speeds of up to 200 mph, offers high-speed mobility with minimal noise and zero operating emissions.
The longstanding partnership between Joby and the DoD, dating back to 2016, has been instrumental in the company's development efforts. Joby's engagement with the Defense Innovation Unit and participation in the AFWERX Agility Prime program underscore its commitment to advancing military and commercial applications of electric aircraft technology.
GATX has an encouraging track with respect to its earnings surprise, having surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one), the average beat being 16.47%.
The Zacks Consensus Estimate for 2024 earnings has been revised 9% upward over the past 90 days. The company has an expected earnings growth rate of 6.5% for 2024. GATX shares have rallied 23% in the past year.
SkyWest's fleet modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s 2024 earnings has improved 26% over the past 90 days. SkyWest shares have surged 250% in the past year.
SKYW has an expected earnings growth rate of more than 100% for 2024. The company delivered a trailing four-quarter earnings surprise of 128.02%, on average.
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Joby Aviation (JOBY) to Deliver Additional Jets to the Air Force
Joby Aviation (JOBY - Free Report) has revealed plans to deliver two aircraft to MacDill Air Force Base (“AFB”) in 2025, as part of its AFWERX Agility Prime contract with the U.S. Air Force (USAF).
MacDill AFB, situated in Tampa, FL, houses significant military units, including the U.S. Special Operations Command, U.S. Central Command and units from the Air Mobility Command. Personnel at MacDill will engage in testing and training activities with the Joby aircraft, both on base and in the surrounding region.
Joby has already delivered one aircraft to Edwards AFB in California in September 2023, with another scheduled for placement this year. Collaboration at Edwards involves close coordination with the 412th Test Wing for testing and experimentation, crucial for informing future operational testing at MacDill AFB.
Under the Agility Prime contract, Joby is set to provide up to nine aircraft to the USAF and other federal agencies. The company achieved a milestone in 2020 by becoming the first eVTOL developer to secure military airworthiness approval for its pre-production prototype aircraft.
JoeBen Bevirt, founder and CEO of Joby Aviation, emphasized the importance of the USAF's early investment and vision in advancing this critical technology. He expressed gratitude to the Department of Defense (DoD) for their ongoing support and leadership in adopting eVTOL technology.
Joby's electric air taxi, designed to accommodate a pilot and four passengers at speeds of up to 200 mph, offers high-speed mobility with minimal noise and zero operating emissions.
The longstanding partnership between Joby and the DoD, dating back to 2016, has been instrumental in the company's development efforts. Joby's engagement with the Defense Innovation Unit and participation in the AFWERX Agility Prime program underscore its commitment to advancing military and commercial applications of electric aircraft technology.
Zacks Rank & Key Picks
Joby Aviation currently carries a Zacks Rank #3 (Hold). Investors interested in the broader Transportation sector may consider stocks like GATX Corporation (GATX - Free Report) and SkyWest (SKYW - Free Report) . SKYW currently sports a Zacks Rank #1 (Strong Buy) and GATX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GATX has an encouraging track with respect to its earnings surprise, having surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one), the average beat being 16.47%.
The Zacks Consensus Estimate for 2024 earnings has been revised 9% upward over the past 90 days. The company has an expected earnings growth rate of 6.5% for 2024. GATX shares have rallied 23% in the past year.
SkyWest's fleet modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s 2024 earnings has improved 26% over the past 90 days. SkyWest shares have surged 250% in the past year.
SKYW has an expected earnings growth rate of more than 100% for 2024. The company delivered a trailing four-quarter earnings surprise of 128.02%, on average.