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 fourth quarter of 2021 results on February 24, 2022, after market close. A live webcast and conference call are scheduled for February 25, 2022, at 8:30 am ET. A supplemental presentation will be available on the company’s website beforehand. Investors can access the call via telephone or online, with a replay option available afterward. Kaman Corporation, founded in 1945, operates in aerospace, defense, industrial, and medical markets, producing various components, including aircraft bearings, helicopter systems, and unmanned aerial vehicles.
Kaman Composites – Vermont, a subsidiary of Kaman Corporation (NYSE:KAMN), has partnered with Mirion Technologies (NYSE:MIR) to expand its medical imaging program. This collaboration involves Kaman supplying surgical C-Arm tabletops, with the first deliveries scheduled for Q2 2022. Kaman Composites possesses 40 years of expertise in designing composite components and is recognized for its rigorous manufacturing standards. This partnership signifies Kaman's growing presence in the medical technology sector while maintaining its aerospace industry role.
Kamatics Corporation, a Kaman business (NYSE:KAMN), announced its support for the James Webb Space Telescope with its KAron self-lubricating bearings. This technology has been tested by NASA for its resilience against extreme conditions in space. Kamatics has leveraged its expertise in material science to ensure compatibility with harsh environments, enhancing its standing in aerospace applications. The company is also developing materials for cryogenic applications and direct liquid oxygen services.
Kaman Corporation (NYSE: KAMN) has announced a change in its financial reporting structure, introducing three new segments: Engineered Products, Precision Products, and Structures. This move aims to enhance transparency and align with the company’s growth strategy. The new segments focus on serving aerospace, defense, industrial, and medical markets with specialized products. Kaman will begin reporting under this structure in its Annual Report for the year ended December 31, 2021, expected to be filed around February 24, 2022.
Littlejohn & Co. has signed a definitive agreement to sell Kaman Distribution Group (KDG) to Motion Industries, a subsidiary of Genuine Parts Company (NYSE: GPC), for $1.3 billion in cash. KDG specializes in distributing highly engineered products across various markets, operating approximately 220 branches in North America. Since its acquisition in August 2019, KDG improved operational excellence and margin through strategic initiatives. The management team expresses excitement about partnering with Motion to enhance service for customers and suppliers.
Kaman Corporation (NYSE:KAMN) has declared a quarterly dividend of 20 cents per common share, scheduled for payment on January 13, 2022. Shareholders of record as of December 21, 2021 will receive this dividend. Founded in 1945, Kaman operates across aerospace & defense, industrial, and medical markets, producing essential components including aircraft bearings, seals, and military systems.
Kaman Corp. (NYSE:KAMN) reported third-quarter results for 2021, showing net sales of $179.8 million, a 15.9% decline from the previous year. Despite lower sales, gross profit rose to $63.1 million, marking a gross margin of 35.1%. Earnings from continuing operations reached $14.7 million, up $2.8 million sequentially. Adjusted EBITDA was $27.8 million, reflecting a margin of 15.5%. The company has raised its earnings outlook while reaffirming its adjusted free cash flow guidance. Notably, organic sales fell 14.8%, primarily due to reduced defense sales. Kaman unveiled new product developments, including the KARGO UAV.
Kaman Air Vehicles, a division of Kaman Corporation (NYSE:KAMN), has secured purchase agreements for two K-MAX® helicopters, with deliveries set for Q4 2021. The helicopters will serve operators in the U.S. and Canada. The K-MAX® is recognized for its effectiveness in external lift operations, particularly in firefighting, with the U.S. Forest Service praising its accurate water placement. Kaman is also advancing its TITAN UAV aerial system, which performed successfully in recent flight tests.
Kaman (NYSE: KAMN) announced that its subsidiary Kamatics Corporation received an initial award to supply components using its proprietary Titanium Diffusion Hardening (TDH) process to a leading eVTOL manufacturer. This innovative process enhances titanium's lightweight and durable properties, making it suitable for demanding applications such as bearings. Rob Paterson, President of Kamatics, emphasized the potential for growth across various sectors, including aerospace and medical. Kamatics has been a reliable partner in commercial aerospace for over 55 years.
Kaman (NYSE: KAMN) announced successful tests of its FireBurst™ height of burst sensor for Laser Guided Bombs (LGBs) at an overseas location. The tests demonstrated reliable detonation at programmed heights using live warheads. The FireBurst™ system is a field-installable upgrade to Paveway® II systems and can adapt to all LGB sizes, enhancing combat flexibility. Full rate production is anticipated in 2022. However, forward-looking statements in the release caution about risks and uncertainties impacting actual results.
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