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Aerojet Rocketdyne Holdings, Inc (AJRD)

  • Mon, Nov. 23, 6:41 PM
    • Aerojet Rocketdyne (NYSE:AJRD) +4.6% AH after saying it landed two contracts related to manned space travel worth nearly $1.4B.
    • AJRD was awarded a $1.16B contract by NASA to restart production of the RS-25 main engine for the space shuttle, which will be used as a launch motor for deep space missions to Mars; the Mars launches will use four RS-25 motors in a single launch, with an unprecedented lift capacity of up to 130 metric tons.
    • Separately, AJRD signed a contract with Boeing (NYSE:BA) valued at nearly $200M for a propulsion system for the Starliner crew module for getting U.S. astronauts to the International Space Station.
    | Mon, Nov. 23, 6:41 PM | 1 Comment
  • Wed, Oct. 14, 10:22 AM
    • The recent $50M legal settlement over Antares rocket disaster last fall has cost Aerojet Rocketdyne (AJRD -0.9%) its earnings so far this year and more.
    • Yesterday's results show the company lost $23.6M through the first nine months of its fiscal year, including the $50M spent on the settlement. In the third quarter alone, Aerojet recorded a loss of $38.1M.
    • Previously: Aerojet Rocketdyne EPS of -$0.63 (Oct. 13 2015)
    • Previously: Aerojet settles Antares rocket accident for $50M (Sep. 25 2015)
    | Wed, Oct. 14, 10:22 AM | Comment!
  • Tue, Oct. 13, 4:15 PM
    • Aerojet Rocketdyne (NYSE:AJRD): Q3 EPS of -$0.63 may not be comparable to consensus of $0.17.
    • Revenue of $440.5M (+4.6% Y/Y) misses by $2.75M.
    • Press Release
    | Tue, Oct. 13, 4:15 PM | Comment!
  • Mon, Oct. 12, 8:03 AM
    • Aerojet Rocketdyne (NYSE:AJRD) has completed its critical design review for the jettison motor and the crew module reaction control system on the Orion spacecraft.
    • The two subsystems, built for Lockheed Martin and NASA, are still on track for a 2018 launch.
    | Mon, Oct. 12, 8:03 AM | 1 Comment
  • Fri, Sep. 25, 10:58 AM
    • Aerojet Rocketdyne (AJRD -1.5%) is considering raising its $2B offer for United Launch Alliance, a rocket launch venture of Boeing (BA +0.4%) and Lockheed Martin (LMT -0.3%), but faces big hurdles after a rejection of the bid last week, Reuters reports.
    • AJRD faces an uphill climb given growing tensions between the two companies over the past few years, according to the report; earlier this week, ULA dumped AJRD as its solid rocket motor supplier and signed a long-term deal with its rival Orbital ATK (OA -0.5%).
    • An AJRD takeover of ULA also would require Russia to give its regulatory approval and transfer a technology license for use of the Russian RD-180 engine that powers ULA's Atlas V rocket, the report says.
    • Analysts have questioned how AJRD could raise the money for the deal, and even whether is worth $2B given the changing space market.
    | Fri, Sep. 25, 10:58 AM | 1 Comment
  • Fri, Sep. 25, 7:35 AM
    • Aerojet Rocketdyne (NYSE:AJRD) will pay Orbital-ATK (NYSE:OA) $50M to settle a dispute stemming from the Antares rocket launch accident last year that destroyed a load of cargo bound for the ISS.
    • The company also said it would take title to 10 AJ-26 rocket engines previously earmarked for Orbital. The settlement formally ends Aerojet's involvement in the Antares rocket program.
    • Previously: Orbital Sciences unmanned rocket blows up on liftoff (Oct. 28 2014)
    | Fri, Sep. 25, 7:35 AM | Comment!
  • Tue, Sep. 22, 7:55 PM
    • United Launch Alliance -- the joint rocket venture of Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA) -- has chosen Orbital ATK (NYSE:OA) to provide solid rocket motors for the Atlas V and Vulcan vehicles, in a "long-term strategic partnership" starting in 2019.
    • That's a setback for Aerojet Rocketdyne (NYSE:AJRD), who's supplying those motors for the Atlas rocket currently.
    • "We remain committed to our solid rocket business which provides very competitive and reliable products to the marketplace," says Aerojet's Glenn Mahone, who added the company would keep supplying to ULA until 2019 and pursue an Air Force ICBM contract as well as commercial orders.
    • If Aerojet loses more orders, it would need to re-evaluate the large Sacramento facility where it builds the motors.
    • Boeing this week also rejected Aerojet's $2B bid for ULA.
    | Tue, Sep. 22, 7:55 PM | 2 Comments
  • Wed, Sep. 16, 11:42 AM
    • Boeing (BA +0.2%) says it rejects Aerojet Rocketdyne's (AJRD -0.1%) unsolicited $2B bid for United Launch Alliance, the 50-50 rocket launch venture of Boeing and Lockheed Martin.
    • Boeing says it remained committed "to ULA and its business, and to continued leadership in all aspects of space, as evidenced by the agreement announced last week with Blue Origin," the Jeff Bezos-owned company designing the engine for a new rocket being designed by ULA.
    | Wed, Sep. 16, 11:42 AM | 5 Comments
  • Wed, Sep. 16, 9:47 AM
    • Aerojet Rocketdyne (AJRD +0.1%) expects to complete its new AR-1 rocket engine by 2019 to replace soon-to-be banned Russian engines, but the date could slip if it does not receive enough U.S. government funding.
    • Aerojet Vice President Julie Van Kleeck said the company was now testing hardware for the engine, which is being designed with 3D-printed parts to fit into both ULA's Atlas 5 rocket.
    | Wed, Sep. 16, 9:47 AM | Comment!
  • Thu, Sep. 10, 9:55 PM
    • A reported $2B bid for the U.S. military’s primary rocket maker is running into complications, as Boeing (NYSE:BA) is less inclined to sell its 50% stake than JV partner Lockheed Martin (NYSE:LMT), according to WSJ.
    • Aerojet Rocketdyne Holdings' (NYSE:AJRD) bid for United Launch Alliance reportedly is favored by LMT, which is more interested in a sale as part of a broader, company-wide portfolio restructuring, while Boeing’s leadership seems to prefer hanging on to its stake.
    • Boeing said today that it remains "committed to [United Launch] and its business,” which it called "the most reliable and effective way to ensure access to space for a wide range of government customers."
    • At the same time, United Launch made a surprising step closer to selecting a new engine for the Vulcan family of rocket boosters from space startup Blue Origin, run by Amazon's Jeff Bezos, signing a deal “to expand production capabilities” for the BE-4 engine; AJRD proposed a competing main engine months ago.
    | Thu, Sep. 10, 9:55 PM | 5 Comments
  • Tue, Sep. 8, 6:53 PM
    • Aerojet Rocketdyne Holdings (NYSE:AJRD) has submitted a $2B offer to buy United Launch Alliance, a 50-50 joint venture of Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA), Dow Jones reports.
    • The two sides are in advanced talks about a deal, and an announcement could come as early as the first part of next week, according to the report.
    • The two companies might welcome the bid, according to a source cited in the report, given increased competition from SpaceX which is likely to cut into ULA's revenues and earnings in coming years.
    | Tue, Sep. 8, 6:53 PM | 3 Comments
  • Fri, Jul. 10, 5:56 PM
    • Aerojet Rocketdyne (NYSE:AJRD): FQ2 EPS of $0.26 may not be comparable to consensus of $0.13.
    • Revenue of $456.9M (+13.0% Y/Y, Inc. $42M related to sale of land)
    • Press Release
    | Fri, Jul. 10, 5:56 PM | Comment!
  • Mon, Jun. 15, 8:59 AM
    • In her first interview since becoming Aerojet Rocketdyne (NYSE:AJRD) CEO on June 1, Eileen Drake vowed to keep a "huge focus" on cutting overhead costs in coming years, including a 10% workforce reduction and possible facility closings.
    • "We have to be sure that we really work as one company," Drake said, citing what she called opportunities to eliminate redundant organizations across the company.
    | Mon, Jun. 15, 8:59 AM | Comment!
  • Mon, Jun. 8, 8:16 AM
    • The U.S. and Japan announce the success of the first live-fire test of Raytheon's (NYSE:RTN) new SM-3 Block IIA missile which is being jointly developed by the two countries for several billion dollars.
    • The SM-3 IIA is a 21-inch variant of the SM-3 missile that works with the Aegis combat system to destroy incoming ballistic missile threats.
    • Aerojet Rocketdyne's (NYSE:AJRD) MK 72 booster provided the first-stage propulsion on the missile.
    | Mon, Jun. 8, 8:16 AM | 2 Comments
  • Wed, Jun. 3, 8:26 AM
    • The U.S. Air Force has formally kicked off a competition for the development of a new prototype rocket propulsion system in order to end U.S. reliance on Russian engines used in current military satellites launches.
    • The program will require bidders to use their own funds to cover a third of the cost of the prototypes. Initial proposals are due by June 23.
    • United Launch Alliance, a joint venture of Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA), is expected to compete against SpaceX, which was certified last week to compete for military and spy satellite launches.
    • Other companies, including Aerojet Rocketdyne (NYSE:AJRD), are also studying their options.
    | Wed, Jun. 3, 8:26 AM | 8 Comments
  • Tue, Jun. 2, 7:46 AM
    • Aerojet Rocketdyne (NYSE:AJRD) Chief Executive Scott Seymour has announced his retirement, effective immediately.
    • Seymour's departure is due to health reasons and not related to the other high-profile departures in recent months, the company said in a statement.
    • The firm's chief operating officer, Eileen Drake, will assume both roles.
    | Tue, Jun. 2, 7:46 AM | Comment!
Company Description
Aerojet Rocketdyne Holdings Inc is an aerospace & defense company. It is engaged in providing propulsion and energetics to its space, missile defense, strategic, tactical missile and armaments customers throughout domestic and international markets.