Aerojet Rocketdyne Holdings, IncNYSE
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  • Tue, Nov. 1, 5:08 PM
    • Aerojet Rocketdyne (NYSE:AJRD): Q3 EPS of -$0.17 may not be comparable to consensus of $0.33.
    • Revenue of $463.8M (+5.3% Y/Y) beats by $5.81M.
    • Press Release
    | Tue, Nov. 1, 5:08 PM | 1 Comment
  • Tue, Oct. 25, 10:28 AM
    • Aerojet Rocketdyne (AJRD +2%) has announced that Paul Lundstrom will join the company as CFO on November 7.
    • Lundstrom previously spent 19 years with United Technologies, most recently serving as VP of Investor Relations.
    | 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, Sep. 1, 10:48 AM
  • Thu, Aug. 11, 8:48 AM
    • Aerojet Rocketdyne (NYSE:AJRD) is partnering with Sierra Nevada Corp. to conduct a deep-space architectural design study.
    • It will explore a habitation system that would enable NASA astronauts to live for long durations beyond low-Earth orbit.
    | Thu, Aug. 11, 8:48 AM
  • Tue, Aug. 9, 4:56 PM
    • Aerojet Rocketdyne (NYSE:AJRD): Q2 EPS of $0.09 may not be comparable to consensus of $0.24.
    • Revenue of $408.4M (-10.8% Y/Y) misses by $27.75M.
    • Press Release
    | Tue, Aug. 9, 4:56 PM | 3 Comments
  • 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.
    | Wed, Aug. 3, 10:36 AM
  • 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
    | Mon, Jul. 11, 4:19 AM | 6 Comments
  • 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, Jun. 7, 9:15 AM | 1 Comment
  • 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.
    | Tue, May 10, 4:58 PM | 2 Comments
  • 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 »
    | Sun, Apr. 17, 8:46 AM | 6 Comments
  • 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)
    | Wed, Mar. 2, 8:12 AM | 1 Comment
  • 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, Mar. 1, 8:00 AM | 2 Comments
  • 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.
    | Tue, Feb. 16, 5:48 PM
  • 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. 13, 8:08 AM | 2 Comments
  • 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.
    | Wed, Jan. 6, 8:49 AM
  • 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)
    | Dec. 8, 2015, 9:59 AM