Aerojet Rocketdyne Holdings, IncNYSE
Tue, Nov. 1, 5:08 PM
Tue, Oct. 25, 10:28 AM
Thu, Sep. 1, 10:48 AM
- A motor that will help the Orion Mars mission get into space has been tested successfully at Aerojet Rocketdyne's (AJRD -0.8%) Rancho Cordova campus.
- "Orion is not just a paper plan. A lot of hardware is being made across the country to make this happen," said Howard Hu, deputy manager of NASA's Orion vehicle integration office.
- The jettison motor is part of the crew abort system to be used if there is a failure at launch or in early stages, and if the launch is successful, this system pulls the crew capsule away from the second-stage rocket motor.
Thu, Aug. 11, 8:48 AM
Tue, Aug. 9, 4:56 PM
Wed, Aug. 3, 10:36 AM
- Aerojet Rocketdyne (AJRD -0.8%) has won a contract to design and deliver electrical power systems for the NASA Dream Chaser spacecraft, which will carry cargo to the International Space Station.
- The system will regulate power generated from the solar arrays and distribute it to the reusable spacecraft's avionics, thermal and propulsion systems, as well as payloads that require electrical power.
Mon, Jul. 11, 4:19 AM
- The Farnborough Airshow takes off today with executives from the aviation industry flying in to complete deals and unveil their latest technology.
- Brexit uncertainty could cloud demand for big jets, as Airbus (OTCPK:EADSY) and Boeing (NYSE:BA) look to snap up some scarce orders from the big carriers.
- Among the exhibitors: AJRD, AME, CAE, ERJ, FLIR, GD, HRS, LLL, LMT, RTN, SNA, SPR, TXT, UTX
Tue, Jun. 7, 9:15 AM
- Raytheon (NYSE:RTN) and Aerojet Rocketdyne (NYSE:AJRD) have entered into a new Strategic Sourcing Agreement.
- Under the deal, Aerojet will act as a principal and long-term supplier of its legacy portfolio of propulsion systems and energetics products for key weapons programs.
- The two companies will also jointly pursue affordability initiatives through 2019 as part of the agreement.
Tue, May 10, 4:58 PM
- Aerojet Rocketdyne (NYSE:AJRD): Q1 EPS of $0.08 beats by $0.05.
- Revenue of $356.9M (+12.0% Y/Y) beats by $17.46M.
Sun, Apr. 17, 8:46 AM
- Shares of Aerojet Rocketdyne (NYSE:AJRD) closed at $16.53 on Friday, down from $22.77 last September. The drop was propelled by the disclosure that United Launch Alliance (a JV of Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA) that conducts the U.S. government's main launch service for deep-space missions) was moving its $100M/year business to AJRD competitor Orbital ATK (NYSE:OA).
- Barron's is bullish on the stock, noting the following:
- Aerojet has until 2019 to make up the loss (6% of its revenue); to wit, revenue grew 7% in the past year.
- Shares are cheap: 6x Ebitda vs. 10x for its peers, according to large hedge-fund owner Jeremy Briendel of Royal Capital Management. He notes management's poor investor-expectation-management skills, and says the current price offers newcomers the chance to pick up an "elite collection of
assets at historic low valuations."
- Breindel has a $35/share valuation for Aerojet: With revenue of $1B last year, its defense unit generates cash flow of $132M. Defense companies generally trade at a multiple of 12x cash flow, so that alone gives Aerojet a valuation of $21/share. Until the contract with ULA ends in 2019, all of Aerojet's current work for the launch partnership generates about $46M in annual cash flow. Applying a 10x multiple to that figure adds about $6 a share. The rest of Aerojet's space business kicks in $62M n annual cash flow, or $8/share. He estimates its real estate at $4 a share, and $3/share in cash, for a total of $42, which will drop by a few dollars once the ULA contract ends. Deducting $553M in debt means ($7/share) brings us back to $35, or implied upside of more than 100%.
- Now read Aerojet Rocketdyne's Restatements No Cause For Concern »
Wed, Mar. 2, 8:12 AM
- Aerojet Rocketdyne (NYSE:AJRD) wants its own rocket engine to oust one being developed by Blue Origin as the first choice for launching Pentagon satellites.
- United Launch Alliance is due to choose later this year between rival devices being developed by Aerojet and Blue Origin, a closely held firm launched by Jeff Bezos.
- Aerojet has also dropped plans to buy out United Technologies' stake in RD Amross, a controversial JV that imports the Russian-made engines and has been lambasted by U.S. lawmakers for its close ties to the Kremlin.
- Previously: Air Force awards rocket engine development contracts (Mar. 01 2016)
Tue, Mar. 1, 8:00 AM
- The U.S. Air Force has awarded contracts to two separate firms involved in the development of new rocket engines to help end U.S. reliance on Russian-made rocket motors for national space launches.
- A $115M contract went to Aerojet Rocketdyne (NYSE:AJRD) for development of its AR1 rocket propulsion system prototype; Another $46.6M contract was granted to a partnership of United Launch Alliance and Blue Origin.
Tue, Feb. 16, 5:48 PM
- Aerojet Rocketdyne (NYSE:AJRD): Q4 EPS of $0.12 may not be comparable to consensus of $0.26.
- Revenue of $486.5M (+9.7% Y/Y) beats by $22.31M.
Wed, Jan. 13, 8:08 AM
- Aerojet Rocketdyne (NYSE:AJRD) expects to boost revenues this year after reaching a record backlog of $3B in 2015, and buoyed by continued demand for the company's missile motors.
- "The defense business is extremely healthy and we have a large market share in this sector, the financials are very strong, and we see growth year over year," CEO Eileen Drake declared.
- She also said the company was doing well despite "some "hiccups" in 2015, including a surprise decision by ULA to switch to Orbital ATK rocket boosters after 2018 and a $50M settlement.
Wed, Jan. 6, 8:49 AM
- Aerojet Rocketdyne (NYSE:AJRD) has won a $6M contract from the U.S. Air Force to define the standards that will be used to qualify components made using 3D printing for use in liquid-fueled rocket engine applications.
- The award is part of a larger drive by the U.S. military to end its reliance on Russian-built RD-180 rocket engines now used on Atlas 5 rockets built by United Launch Alliance.
- The Air Force plans to award additional, larger contracts for U.S.-developed propulsion systems later this year.
Dec. 8, 2015, 9:59 AM
- Aerojet Rocketdyne (AJRD -1.3%) is in talks with the U.S. Air Force about government funding for the AR-1 rocket engine that it is developing as an alternative to a banned Russian engine.
- The discussions began two weeks ago and could stretch for several months before the Air Force awards a contract for initial work on a new U.S. rocket engine to replace the RD-180 engine.
- Previously: AR-1 timetable could slip (Sep. 16 2015)
- Previously: Contest to replace Russian rocket engines begins (Jun. 03 2015)