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 Corporation (NYSE:KAMN) announced that Ian Walsh, Chairman and CEO, along with Jamie Coogan, CFO, will present at the Gabelli Funds 28th Annual Aerospace & Defense Symposium on September 8, 2022. The event will be broadcast live, and interested participants can register via Gabelli Funds' website. A related presentation will also be available on Kaman's investor relations page prior to the earnings call. Kaman Corporation specializes in aerospace, defense, industrial, and medical markets, providing a range of components and systems for various aircraft.
Kaman Corp. (NYSE:KAMN) released its Q2 2022 results, reporting net sales of $161 million and a gross margin of 32.4%. Net earnings were $4.1 million with an adjusted EBITDA of $16.4 million, translating to a margin of 10.2%. The company anticipates growth in earnings, EBITDA, and free cash flow, while slightly reducing its sales outlook for the year due to lower order rates in its Structures segment. Kaman's backlog grew 11% to $775 million, driven by Engineered Products and the acquisition of the Aircraft Wheel & Brake business from Parker-Hannifin is expected to enhance its product offerings.
The board of directors of Kaman Corporation (NYSE:KAMN) has declared a quarterly dividend of 20 cents per common share. This dividend is scheduled for payment on October 13, 2022, to shareholders recorded as of September 20, 2022. Kaman Corporation, established in 1945, operates across aerospace & defense, industrial, and medical sectors, providing various products and solutions including aircraft bearings and unmanned aerial systems.
Kaman Corp. (NYSE:KAMN) will report its second quarter 2022 results post-market on August 4, 2022. A live webcast and conference call will follow at 8:30 am ET on August 5, 2022. Participants must register for the call to receive a personalized dial-in number. The company will also publish a supplemental presentation on its website prior to the call. Kaman, founded in 1945, operates in aerospace and defense, industrial, and medical markets, producing components like aircraft bearings and unmanned aerial systems.
Kaman Corporation (NYSE: KAMN) announced the appointment of Carroll K. Lane as Senior Vice President and President of its Air Vehicles and Precision Products divisions. Lane comes from Pratt & Whitney, where he led commercial engines and has extensive experience in P&L management and strategic planning. He succeeds Darlene Smith, who is retiring. Lane's leadership is expected to strengthen Kaman's growth strategies in precision products and autonomous flight systems, enhancing offerings for military and commercial customers.
Kaman Corporation (NYSE: KAMN) has invested $10 million in Near Earth Autonomy, Inc., acquiring a minority stake and a board seat. This partnership aims to accelerate the development of autonomous aviation technology. Kaman and Near Earth have collaborated since 2019 on projects like the K-MAX TITAN helicopter and the KARGO UAV. The investment is expected to enhance capabilities in safe landing, obstacle avoidance, and navigation. Both companies emphasize the importance of this collaboration for military and commercial applications in the evolving autonomy market.
Kaman Corporation (NYSE:KAMN) announced a regular quarterly dividend of 20 cents per common share. The dividend will be distributed on July 14, 2022, to shareholders of record as of June 21, 2022. Founded in 1945 by aviation pioneer Charles H. Kaman and headquartered in Bloomfield, Connecticut, the company operates in aerospace, defense, industrial, and medical markets, producing aircraft components and various military solutions.
Kaman Corporation (NYSE: KAMN) has appointed Niharika Taskar Ramdev to its Board of Directors. Ms. Ramdev brings over 20 years of experience, including key financial roles at General Motors. Her expertise in finance, operations, and supply chain is expected to strengthen Kaman's strategic focus on global growth and profitability. With the addition of Ms. Ramdev, Kaman now has seven independent directors, contributing to a diverse range of skills aimed at enhancing the company’s performance.
Kaman Corporation (NYSE:KAMN) announced its acquisition of Parker-Hannifin's Aircraft Wheel & Brake division for $440 million. This strategic move aims to expand Kaman's Engineered Products segment and enhance exposure to growing aerospace and defense markets. The deal, expected to close by year-end pending regulatory approval, will be accretive to Kaman's margin and cash flow within twelve months. Kaman intends to leverage free cash flow to reduce leverage post-transaction, highlighting a focus on financial stability and growth.
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