Welcome to our dedicated page for Aerojet Rocketdyne Holdings, In news (Ticker: AJRD), a resource for investors and traders seeking the latest updates and insights on Aerojet Rocketdyne Holdings, In stock.
Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) is a renowned aerospace and defense company headquartered in El Segundo, California. The company is organized into two primary segments: Aerospace and Defense, and Real Estate.
The Aerospace and Defense segment designs, develops, manufactures, and sells advanced propulsion systems and energetics for space, missile defense, strategic, tactical systems, and more. This segment serves key clients like the U.S. Department of Defense, NASA, and major aerospace contractors. Their offerings include liquid and solid rocket propulsion systems, hypersonic engines, and electric power systems used in various applications such as space exploration, national defense, and commercial ventures. Notable products include the RL10 upper-stage rocket engines, which have been pivotal in space missions for nearly six decades, and have recently been showcased at prominent Florida attractions to inspire future generations of scientists.
The Real Estate segment focuses on re-zoning, entitlement, sale, and leasing of the company’s excess land assets. They own approximately 11,394 acres of land adjacent to U.S. Highway 50 between Rancho Cordova and Folsom, California.
In recent developments, Aerojet Rocketdyne has secured numerous contracts and achieved significant milestones. This includes a $67 million contract from Lockheed Martin for NASA’s Artemis Missions VI-VIII, emphasizing their role in deep space exploration. They were also awarded a $75 million contract to supply M829A4 120mm Kinetic Energy round components for the U.S. Army’s Abrams Main Battle Tank. Furthermore, they reported a record first-quarter sales of $566 million for 2023, marking an 11% increase year-over-year.
Aerojet Rocketdyne is actively involved in developing next-generation defense and space technologies. They recently completed a certification test series for the RS-25 production engines, integral to NASA’s Artemis missions, and successfully tested the Zeus 1 Large Solid Rocket Motor for Kratos, showcasing their innovative propulsion capabilities.
Financially, Aerojet Rocketdyne maintains a robust position with a backlog valued at $6.8 billion and ongoing strategic investments like the $216 million cooperative agreement with the Department of Defense to enhance propulsion manufacturing facilities.
With a commitment to excellence, Aerojet Rocketdyne continues to play a crucial role in advancing aerospace and defense technologies, fostering long-term growth, and contributing significantly to national and international defense capabilities.
Aerojet Rocketdyne has been selected to provide propulsion systems for the Navy's new Compact Rapid Attack Weapon (CRAW), collaborating with Raytheon Missiles & Defense. This torpedo will utilize an innovative Stored Chemical Energy Propulsion System (SCEPS), enhancing its performance. The company will manufacture key components at its Coleman Aerospace subsidiary. Additionally, Aerojet is contracted to develop SCEPS for the MK 54 MOD 2 torpedo. The CRAW will function offensively against submarines and defensively against incoming torpedoes.
Aerojet Rocketdyne (NYSE: AJRD) announced its upcoming third quarter 2022 earnings report, scheduled for November 1, 2022. The report will be accompanied by a conference call at 8:30 a.m. EDT, led by CEO Eileen P. Drake and CFO Dan Boehle, to discuss the financial results and address investor questions. Interested parties can access the webcast through the company’s investor relations page. This meeting represents an important opportunity for investors to gain insights into the company's performance and future outlook.
Aerojet Rocketdyne has successfully tested its next-generation eSR-19 large solid rocket motor, validating advanced motor technology at its facilities in Huntsville, Alabama, and Camden, Arkansas. This design verification test, which enhances cost and performance through innovative materials and efficient manufacturing, supports various defense and space applications. Weighing nearly 15,000 pounds, the eSR-19 is a significant upgrade to legacy SR-19 motors, enhancing capabilities for multiple systems under development. The test builds on previous successes, solidifying Aerojet Rocketdyne's position in the aerospace and defense sectors.
Aerojet Rocketdyne Holdings announces the promotion of Joseph E. Chontos to General Counsel and Corporate Secretary effective September 8, 2022. Chontos, who has been acting General Counsel since April, brings over 25 years of legal experience, including previous roles at Northrop Grumman and Electric Boat Corporation. CEO Eileen P. Drake praised his legal expertise and leadership skills as vital for the company's growth. Aerojet Rocketdyne specializes in aerospace and defense technologies and also engages in real estate activities related to its excess assets.
Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) will participate in the Gabelli Funds 28th Annual Aerospace & Defense Symposium on September 8, 2022. CEO Eileen P. Drake is scheduled to present at 10:30 a.m. EDT / 7:30 a.m. PDT. Interested parties can register for the live presentation via Webinar Registration. A recording and slide deck will be accessible post-event.
Aerojet Rocketdyne has inaugurated its first Center of Excellence for Undersea Propulsion in Orlando, Florida, to aid the U.S. Navy's next-gen torpedoes. This facility, funded independently by Aerojet Rocketdyne, will manufacture the Stored Chemical Energy Propulsion System (SCEPS) and the torpedo afterbody. CEO Eileen P. Drake highlighted the strategic importance of this capability for U.S. undersea warfare support, enhancing Aerojet Rocketdyne's longstanding contribution to the Navy. The facility will support contracts, including the MK 54 MOD 2 Advanced Lightweight Torpedo prototype.
Aerojet Rocketdyne announced a successful demonstration of its Integrated System Test Bed (ISTB) designed for advanced liquid rocket engine testing, conducted independently at Edwards Air Force Base, California. The ISTB can test components for strategic systems and missile defense, showing promising innovation in propulsion technologies. Key advancements included improved precision machining and engine calibration techniques. This multi-million dollar project aims to lower technical risks and facilitate rapid testing for future liquid propulsion systems, reinforcing Aerojet Rocketdyne's role in defense innovation.
Aerojet Rocketdyne successfully delivered its 800th Solid Rocket Boost Motor and 800th Divert and Attitude Control System (DACS) for the Terminal High Altitude Area Defense (THAAD) system, crucial for U.S. missile defense. CEO Eileen P. Drake highlighted this milestone as a demonstration of the company's commitment to meeting defense needs. The THAAD system maintains a perfect success rate in 16 intercept tests. Production of these components occurs in Alabama, Arkansas, and California, reinforcing Aerojet Rocketdyne's role in national defense.
Aerojet Rocketdyne has unveiled a new $13.5 million facility in Camden, Arkansas, aimed at enhancing solid rocket motor manufacturing. The 51,000 square foot facility will boost production capacity, operational efficiency, and safety. Specifically designed for the PAC-3 Missile Segment Enhancement program, it will also accommodate larger-scale motors for next-gen missiles. This expansion underscores the company's commitment to supporting military readiness and innovation in affordable propulsion systems.
Aerojet Rocketdyne's Aerojet Ordnance Tennessee (AOT) has secured a five-year contract with Day & Zimmermann to supply over 200,000 M67 hand grenade body assemblies for the U.S. Army. This announcement follows AOT's milestone of delivering its eight millionth grenade body assembly in 2021, reinforcing its position as the sole supplier of these components for over 20 years. The contract signals continued collaboration between AOT and D&Z in delivering high-quality munitions.
FAQ
What is the market cap of Aerojet Rocketdyne Holdings, In (AJRD)?
What does Aerojet Rocketdyne Holdings, Inc. do?
What are the main segments of Aerojet Rocketdyne's operations?
Who are Aerojet Rocketdyne's key clients?
What recent contracts has Aerojet Rocketdyne secured?
What are some of Aerojet Rocketdyne's notable products?
What recent financial performance has Aerojet Rocketdyne reported?
What is the significance of Aerojet Rocketdyne's backlog?
What recognition has Aerojet Rocketdyne received recently?
What role does Aerojet Rocketdyne play in space exploration?