Aerojet Rocketdyne Holdings, Inc. designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. It operates in two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors. This segment provides liquid and solid rocket propulsion systems, air-breathing hypersonic engines, and electric power and propulsion systems for space, defense, civil, and commercial applications; and armament systems. The Real Estate segment engages in the re-zoning, entitlement, sale, and leasing of the company's excess real estate assets. It owns 11,394 acres of land adjacent to the United States Highway 50 between Rancho Cordova and Folsom, California east of Sacramento. The company was formerly known as GenCorp Inc. and changed its name to Aerojet Rocketdyne Holdings, Inc. in April 2015. Aerojet Rocketdyne Holdings, Inc. was incorporated in 1915 and is headquartered in El Segundo, California.
IPO Year:
Exchange: NYSE
Website: aerojetrocketdyne.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/7/2022 | $40.00 → $49.00 | Neutral → Overweight | JP Morgan |
| 2/8/2022 | Hold → Buy | Jefferies | |
| 2/8/2022 | $49.00 → $47.00 | Hold → Buy | Jefferies |
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Copeland, a global provider of sustainable climate solutions and leader in the HVAC, Refrigeration (HVACR) and industrial compression industry, has announced that Paul Lundstrom will join the company in August as Chief Financial Officer (CFO). Copeland is a standalone company and a portfolio company of Blackstone, the world's largest alternative asset manager, within its Capital Partners Fund XIII. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240724421467/en/Paul Lundstrom, Copeland's new Chief Financial Officer (Photo: Copeland) "Paul is an excellent addition to the executive team of Copeland, as he brings with him extensive
EL SEGUNDO, Calif., Dec. 16, 2020 (GLOBE NEWSWIRE) -- Major contract awards to support the nation’s heavy-lift exploration rocket and next-generation strategic deterrent programs were among the 2020 highlights for Aerojet Rocketdyne. Other contributors to another successful year in service to the nation were additional breakthroughs and contract awards in space exploration, missile defense, hypersonics and national security launch, as well as achieving a number of milestones on long-running space and defense production programs. The company produced more than 330 in-space engines and nearly 70,000 solid rocket motors this year. Aerojet Rocketdyne employees displayed great resilience and
JP Morgan upgraded Aerojet Rocketdyne from Neutral to Overweight and set a new price target of $49.00 from $40.00 previously
Jefferies upgraded Aerojet Rocketdyne Hldgs from Hold to Buy
Jefferies upgraded Aerojet Rocketdyne from Hold to Buy and set a new price target of $47.00 from $49.00 previously
Canaccord Genuity reiterated coverage of Aerojet Rocketdyne Hldgs with a rating of Hold and set a new price target of $51.00 from $56.00 previously
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EL SEGUNDO, Calif., May 04, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) (the "Company") today reported results for the three months ended March 31, 2023. Financial Overview Three months ended March 31, 2023 2022 (In millions, except percentage and per share amounts)Net sales$566.3 $511.1 Net income 27.8 27.8 Net income as a percentage of net sales 4.9% 5.4%Adjusted Net Income (Non-GAAP measure*) 34.4 36.9 Adjusted Net Income (Non-GAAP measure*) as a percentage of net sales 6.1% 7.2%Earnings Per Share ("EPS") - Diluted 0.34 0.33 Adjusted EPS (Non-GAAP measure*) 0.43 0.44 Adjusted EBITDAP (Non-GAAP measure*) 58.7 69.3 Adjusted EBITDAP (Non-GAAP m
EL SEGUNDO, Calif., Feb. 15, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) (the "Company") today reported results for the fourth quarter and year ended December 31, 2022. Financial Overview Three months ended December 31, Year ended December 31, 2022 2021 2022 2021 (In millions, except percentage and per share amounts)Net sales$648.2 $589.7 $2,237.6 $2,188.0 Net income 16.1 41.0 74.0 146.6 Net income as a percentage of net sales 2.5% 7.0% 3.3% 6.7%Adjusted Net Income (Non-GAAP measure*) 25.2 38.5 115.0 164.5 Adjusted Net Income (Non-GAAP measure*) as a percentage of net sales 3.9% 6.5% 5.1% 7.5%Earnings Per Share ("EPS") - Diluted 0.2
EL SEGUNDO, Calif., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) (the "Company") today reported results for the three and nine months ended September 30, 2022. Financial Overview Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 (In millions, except percentage and per share amounts)Net sales$549.8 $545.3 $1,589.4 $1,598.3 Net income 13.7 42.5 57.9 105.6 Net income as a percentage of net sales 2.5% 7.8% 3.6% 6.6%Adjusted Net Income (Non-GAAP measure*) 36.7 47.7 89.8 126.0 Adjusted Net Income (Non-GAAP measure*) as a percentage of net sales 6.7% 8.7% 5.6% 7.9%Earnings Per Share ("EPS") - Diluted 0.17
EL SEGUNDO, Calif., Oct. 18, 2022 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) (the "Company") today announced that it will report its third quarter 2022 earnings results on Tuesday, November 1, 2022. The Company will also host a conference call and webcast that morning at 8:30 a.m. EDT / 5:30 a.m. PDT. Eileen P. Drake, Chief Executive Officer and President, and Dan Boehle, Chief Financial Officer, will host the call to discuss third quarter 2022 financial results and answer questions. Conference Call and Webcast Details for Investors and Financial Analysts What: Aerojet Rocketdyne Holdings, Inc. Third Quarter 2022 Conference CallWhen: Tuesday, November 1, 2022, at 8
EL SEGUNDO, Calif., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) (the "Company") today reported results for the three and six months ended June 30, 2022. Financial Overview Three months ended June 30, Six Months ended June 30, 2022 2021 2022 2021 (In millions, except percentage and per share amounts)Net sales$528.5 $556.9 $1,039.6 $1,053.0 Net income 16.4 45.0 44.2 63.1 Net income as a percentage of net sales 3.1% 8.1% 4.3% 6.0%Adjusted Net Income (Non-GAAP measure*) 16.2 49.1 53.1 78.3 Adjusted Net Income (Non-GAAP measure*) as a percentage of net sales 3.1% 8.8% 5.1% 7.4%Earnings Per Share ("EPS") - Diluted 0.20 0.54 0.53
EL SEGUNDO, Calif., July 21, 2022 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) (the "Company") today announced that it will report its second quarter 2022 earnings results on Monday, August 1, 2022. The Company will also host a conference call and webcast that morning at 8:30 a.m. EDT / 5:30 a.m. PDT. Eileen P. Drake, Chief Executive Officer and President, and Dan Boehle, Chief Financial Officer, will host the call to discuss second quarter 2022 financial results and answer questions. Conference Call and Webcast Details for Investors and Financial Analysts What: Aerojet Rocketdyne Holdings, Inc. Second Quarter 2022 Conference CallWhen: Monday, August 1, 2022, at 8:30
Deck Outlines Strategy for Fixing Deterioration and Realizing $65 Per Share or More Within Three Years, While Also Specifying Capital Allocation Priorities and Governance Commitments Messrs. Lichtenstein and Tucker to Host an Investor Call/Webcast on Friday, June 10th at 8:30 AM Eastern Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) ("Aerojet Rocketdyne" or the "Company") Executive Chairman Warren Lichtenstein, who collectively with his affiliates and the participants in his solicitation owns approximately 5.6% of the Company's outstanding shares, today released a presentation that details the case for new leadership following approximately 18 months of financial and operational deteriora
– Resounding Stockholder Support for Special Meeting – Special Meeting to Occur on June 30, 2022 EL SEGUNDO, Calif., May 25, 2022 /PRNewswire/ -- Eileen P. Drake (the CEO of Aerojet Rocketdyne (NYSE: AJRD)) and the other members of the Committee For Aerojet Rocketdyne Shareholders and Value Maximization today announced that they delivered a demand for a special meeting of stockholders to elect a new Board of Directors. The measure required the support of 25% of the outstanding shares. Since the Committee began disseminating materials to stockholders three weeks ago, we have already received the consents from holders representing over 42% of the outstanding shares as of today – so we are now
EL SEGUNDO, Calif., May 03, 2022 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) (the "Company") today reported results for the three months ended March 31, 2022. Financial Overview Three months ended March 31, 2022 2021 (In millions, except percentage and per share amounts)Net sales$511.1 $496.1 Net income 27.8 18.1 Net income as a percentage of net sales 5.4% 3.6%Adjusted Net Income (Non-GAAP measure*) 36.9 29.3 Adjusted Net Income (Non-GAAP measure*) as a percentage of net sales 7.2% 5.9%Earnings Per Share ("EPS") - Diluted 0.33 0.22 Adjusted EPS (Non-GAAP measure*) 0.44 0.36 Adjusted EBITDAP (Non-GAAP measure*) 69.3 58.5 Adjusted EBITDAP (Non-
Steel Partners Holdings L.P. (together with its affiliates, "Steel Partners" or "we"), which owns approximately 5.2% of the outstanding shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) ("Aerojet Rocketdyne" or the "Company") and has nominated seven highly qualified candidates for election to the Company's Board of Directors (the "Board") at the 2022 Annual Meeting of Shareholders (the "Annual Meeting"), today issued the following letter: Fellow Shareholders, Steel Partners is one of the largest shareholders of Aerojet Rocketdyne, with ownership of approximately 5.2% of the Company's outstanding shares. We are also a long-term shareholder that has spent nearly 15 years supporting th
Copeland, a global provider of sustainable climate solutions and leader in the HVAC, Refrigeration (HVACR) and industrial compression industry, has announced that Paul Lundstrom will join the company in August as Chief Financial Officer (CFO). Copeland is a standalone company and a portfolio company of Blackstone, the world's largest alternative asset manager, within its Capital Partners Fund XIII. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240724421467/en/Paul Lundstrom, Copeland's new Chief Financial Officer (Photo: Copeland) "Paul is an excellent addition to the executive team of Copeland, as he brings with him extensive
NEW YORK, July 27, 2023 /PRNewswire/ -- Madison Square Garden Sports Corp. (NYSE:MSGS) will replace Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, August 1. S&P 500 constituent L3Harris Technologies Inc. (NYSE:LHX) is acquiring Aerojet Rocketdyne in a deal that is expected to close on July 28, pending final conditions. Following is a summary of the change that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector August 1, 2023 S&P SmallCap 600 Addition Madison Square Garden Sports MSGS Communication Services August 1, 2023 S&P Smal
HUNTSVILLE, Ala., July 10, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne has successfully developed and static-fire tested the Zeus 1, an advanced stage 1 Large Solid Rocket Motor (LSRM) for Kratos. The motor met or exceeded performance expectations. "Congratulations to the Aerojet Rocketdyne and Kratos teams for this outstanding achievement," said Eileen P. Drake, Aerojet Rocketdyne CEO and president. "This test validated the robustness of our innovative motor design for an affordable hypersonic application, and further demonstrated our large solid rocket motor capabilities at Camden, where we support multiple industry customers to power various defense programs." The motor was developed
STENNIS SPACE CENTER, Miss., June 23, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne and NASA completed a certification test series yesterday for the new RS-25 production engines that will propel NASA's Space Launch System (SLS) exploration rocket for Artemis missions, beginning with Artemis V. This test series ensures the new engines will perform with the same reliability and robustness of their predecessors. "With the completion of this 12-test campaign, we have cleared a major milestone in our RS-25 production restart program," said Eileen P. Drake, Aerojet Rocketdyne CEO and president. "The test series went very smoothly, raising our level of confidence that the new hardware designs and
HUNTSVILLE, Ala., June 21, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne will develop an advanced propulsion solution for the Long Range Maneuverable Fires (LRMF) missile that Lockheed Martin is developing for the U.S. Army. The LRMF missile is a precision fires missile that will launch from existing U.S. Army launchers, like HIMARS, to engage targets at ranges that significantly exceed those of the Precision Strike Missile (PrSM) baseline. "Aerojet Rocketdyne propulsion has powered U.S. Army systems for decades, and we look forward to leveraging that experience and our talented workforce to develop next-generation missiles with significantly extended range," said Eileen P. Drake, Aerojet
HUNTSVILLE, Ala., June 20, 2023 (GLOBE NEWSWIRE) -- In early April 2023, Aerojet Rocketdyne was awarded a two-year contract by Lockheed Martin, valued at $23.8 million, to continue its role in providing propulsion units for the Javelin missile. "Aerojet Rocketdyne has powered more than 50,000 Javelin missiles since the program's inception more than 20 years ago," said Eileen P. Drake, Aerojet Rocketdyne CEO and president. "We look forward to continuing to deliver the motors for this proven and reliable system that protects our warfighters, allies and strategic partners." Aerojet Rocketdyne produces an integrated launch and flight motor to safely propel the Javelin missile from launch
HUNTSVILLE, Ala., June 19, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne has successfully completed the qualification static fire test of the eSR-19, the advanced large solid rocket motor that will power the Missile Defense Agency's (MDA) next generation Medium Range Ballistic Missile (MRBM) target used to test our nation's missile defense systems. "I applaud the dedicated efforts by teams across Aerojet Rocketdyne to meet this important milestone," said Eileen P. Drake, Aerojet Rocketdyne CEO and president. "Our steadfast workforce and advanced solid rocket motor propulsion remain crucial to helping protect our nation and our allies." The successful qualification test, conducted by Ai
EL SEGUNDO, Calif., May 31, 2023 (GLOBE NEWSWIRE) -- Eileen P. Drake, CEO and president of Aerojet Rocketdyne, Inc., will be honored as Director of the Year for Corporate Governance by the Forum for Corporate Directors, Orange County, on June 1, 2023, at a ceremony in Newport Beach, California. "It is a great honor to be recognized by the Forum for Corporate Directors as Director of the Year for Corporate Governance," said Drake. "Behind every leader is a strong team, and I am proud to accept this award on behalf of the fantastic people I work alongside day in and day out. Without them, it would be impossible for Aerojet Rocketdyne to continue moving forward." The Director of the Year Aw
WEST PALM BEACH, Fla., May 25, 2023 (GLOBE NEWSWIRE) -- Two Florida attractions now have RL10 upper-stage rocket engines on display, thanks to Aerojet Rocketdyne: the new Gateway™: The Deep Space Launch Complex® at NASA's Kennedy Space Center Visitor Complex on Merritt Island, and the Cox Science Center and Aquarium (CSCA) in West Palm Beach where the RL10 is produced. "The RL10 has been the nation's premier, high-performance launch vehicle upper-stage rocket engine for nearly 60 years," said Eileen P. Drake, Aerojet Rocketdyne CEO and president. "We're excited to work with Kennedy Space Center Visitor Complex and the Cox Science Center to tell the RL10 story and inspire future rocket sci
LOS ANGELES, May 16, 2023 (GLOBE NEWSWIRE) -- Jim Maser, senior vice president of Aerojet Rocketdyne's Space Business Unit, was selected as a 2023 Honorary Fellow of the American Institute of Aeronautics and Astronautics (AIAA) and elected as a member of the National Academy of Engineering (NAE). "I cannot think of a more deserving individual for these top honors," said Eileen P. Drake, Aerojet Rocketdyne CEO and president. "As the leader of our space propulsion business, Jim has made enormous contributions to our company, our industry and the nation." An AIAA Honorary Fellow is the top honor bestowed by AIAA that recognizes recipients for their eminence in aeronautics or astronautics an
Madison Square Garden Sports will replace Aerojet Rocketdyne in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, August 1.
Lawmakers have reportedly warned against L3Harris Technologies Inc (NYSE:LHX) and Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) merger deal. U.S. Senator Elizabeth Warren, a Democrat and frequent merger critic, joined three other lawmakers, who have urged the Defense Department to review the $4.7 billion deal thoroughly, reported Reuters. Last month, Lockheed Martin Corp's (NYSE:LMT) chief operating officer, Frank St John, told Reuters that Lockheed, Aerojet's biggest customer, wanted L3Harris to ensure access to rocket motors, fair pricing, and IP protections, adding it had received "little response" from L3Harris over its concerns. Warren and the other lawmakers stated that the Defense
-Reuters
One of the first California-based tech startups, Anduril Industries, is buying a rocket-engine business Adranos for unspecified terms to supply rocket motors used in missiles. Anduril, the first tech startup company to bag attractive large-scale weapons contracts from Pentagon, already has drones deployed in Ukraine, the WSJ reports. The acquisition will boost the company's presence in the military market as Pentagon contractors focus on enhancing production to cater to demand following Russia's last year invasion. There has been an increased backlog of rocket motor production, which has hindered the delivery of weapons like Stingler missiles. Also, the consolidation in the industry ha
Aerojet Rocketdyne will develop an advanced propulsion solution for the Long Range Maneuverable Fires (LRMF) missile that Lockheed Martin is developing for the U.S. Army. The LRMF missile is a precision fires missile that will launch from existing U.S. Army launchers, like HIMARS, to engage targets at ranges that significantly exceed those of the Precision Strike Missile (PrSM) baseline. "Aerojet Rocketdyne propulsion has powered U.S. Army systems for decades, and we look forward to leveraging that experience and our talented workforce to develop next-generation missiles with significantly extended range," said Eileen P. Drake, Aerojet Rocketdyne CEO and president. "In addition to provid
Lockheed Martin Corp (NYSE:LMT) reportedly raised concerns over L3Harris Technologies Inc's (NYSE:LHX) acquisition of Aerojet Rocketdyne Holdings Inc (NYSE:AJRD). Lockheed's chief operating officer, Frank St John, told Reuters that Lockheed, Aerojet's biggest customer, wanted L3Harris to ensure access to rocket motors, fair pricing, and IP protections, adding it had received "little response" from L3Harris over its concerns. LMT raised concerns with the U.S. Defense Department and Federal Trade Commission. "To date, we've been unable to gain a commitment from L3Harris for those provisions as a merchant supplier," St John stated. Also Read: Pentagon Just Announced A New $2.1 Billion Arms
In early April 2023, Aerojet Rocketdyne was awarded a two-year contract by Lockheed Martin, valued at $23.8 million, to continue its role in providing propulsion units for the Javelin missile. "Aerojet Rocketdyne has powered more than 50,000 Javelin missiles since the program's inception more than 20 years ago," said Eileen P. Drake, Aerojet Rocketdyne CEO and president. "We look forward to continuing to deliver the motors for this proven and reliable system that protects our warfighters, allies and strategic partners." Aerojet Rocketdyne produces an integrated launch and flight motor to safely propel the Javelin missile from launcher to target. The company was instrumental in advancing
Pulled from Benzinga Pro data, Aerojet Rocketdyne Hldgs (NYSE:AJRD) posted Q1 earnings of $27.80 million, an increase from Q4 of 72.67%. Sales dropped to $566.30 million, a 12.63% decrease between quarters. In Q4, Aerojet Rocketdyne Hldgs brought in $648.20 million in sales but only earned $16.10 million. What Is Return On Capital Employed? Earnings data without context is not clear and can be difficult to base trading decisions on. Return on Capital Employed (ROCE) helps to filter signal from noise by measuring yearly pre-tax profit relative to capital employed by a business. Generally, a higher ROCE suggests successful growth of a company and is a sign of higher earnings per share in the
https://www.nasa.gov/press-release/nasa-selects-12-companies-to-collaborate-on-key-technology-development NASA has selected 16 proposals from 12 companies under the 2022 Announcement of Collaboration Opportunity (ACO) to advance capabilities and technologies related to NASA's Moon to Mars Objectives. The cadre of U.S. industry-led teams will test a new lunar rover tire design, develop a robotically assembled power system, build an electrically actuated device to join in-space propellant transfer lines, and more. Under unfunded Space Act Agreements, NASA will provide access to its unique facilities and technical expertise, allowing the agency to directly support continued development of