Welcome to our dedicated page for Kaman news (Ticker: KAMN), a resource for investors and traders seeking the latest updates and insights on Kaman stock.
Kaman Corp (NYSE: KAMN) is a prominent player in the aerospace and distribution markets, with a rich history dating back to its founding in 1945 by aviation pioneer Charles H. Kaman. Headquartered in Bloomfield, Connecticut, Kaman Corp operates 17 locations worldwide, cementing its global footprint in the industry.
The company's core businesses include the production and marketing of proprietary aircraft bearings and components, super precision miniature ball bearings, and complex metallic and composite aerostructures for a variety of aircraft types including commercial, military, and general aviation fixed and rotary wing aircraft. Kaman Aerospace, a key segment of the corporation, also excels in aerostructure engineering design analysis and FAA certification services.
Notably, Kaman Corp offers safe and arm solutions for missile and bomb systems for the U.S. and allied militaries. The company is also recognized for its subcontract helicopter work, the production of the K-MAX medium-to-heavy lift helicopter, and support for the SH-2G Super Seasprite maritime aircraft.
Recently, Kaman Corp has been in the spotlight due to significant corporate developments. On April 18, 2024, it was announced that Cohen & Steers Inc. (NYSE: CNS) will replace Kaman Corp. in the S&P SmallCap 600, following Arcline Investment Management LP's acquisition of Kaman, which is set to close by April 19, pending final conditions. This strategic move marks a new chapter in Kaman's storied history, potentially influencing its market presence and operational dynamics.
For more information about the company's operations, products, and recent updates, visit their official website at www.kaman.com/aerospace.
Kaman Corp. (NYSE:KAMN) will report its first quarter 2023 results after market close on May 2, 2023. A live webcast and conference call will follow on May 3, 2023, at 8:30 am ET. A supplemental presentation will be available on the company’s website prior to the earnings call. Participants need to register for the teleconference to receive a personalized PIN for access. The webcast will also be accessible live, with a replay available two hours post-call. For more details, visit Kaman's earnings call page.
Kaman Corporation (NYSE: KAMN) and PHI Aviation LLC announced a master commercial agreement to promote and sell Kaman’s KARGO UAVTM unmanned aerial system. This partnership includes a memorandum of understanding for PHI to purchase 50 units of KARGO UAVTM. The KARGO UAVTM is designed for military and civilian use, capable of carrying 800 lbs and flying 500 miles. The collaboration aims to enhance Kaman's market presence while providing PHI with advanced capabilities to support its core customers, including energy providers and government organizations.
Kaman Corp. (NYSE:KAMN) reported a challenging year in 2022, with net sales of $688.0 million and a net loss of $(46.2) million, which included $79.0 million in impairment charges. The fourth quarter saw net sales of $197.1 million and a net loss of $(54.9) million. For 2023, the company forecasts net sales between $730.0 million and $750.0 million, with net earnings projected at $4.0 million to $11.6 million. The adjusted EBITDA is expected to rise to between $95.0 million and $105.0 million, although higher interest expenses may pose challenges. Despite these hurdles, Kaman remains focused on strategic growth, particularly through its Engineered Products segment, bolstered by the acquisition of Aircraft Wheel and Brake.
Kaman Corporation (NYSE: KAMN) has declared a quarterly dividend of 20 cents per common share. This dividend is scheduled to be paid on April 13, 2023, to shareholders on record as of March 21, 2023. Founded in 1945 and headquartered in Bloomfield, Connecticut, Kaman operates in aerospace, defense, industrial, and medical markets, offering various products including aircraft bearings, helicopter components, and UAV systems. The company continues to engage in the development of military and commercial aviation solutions. For more information, visit www.kaman.com.
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