Welcome to our dedicated page for Amentum Holdings news (Ticker: AMTM), a resource for investors and traders seeking the latest updates and insights on Amentum Holdings stock.
Amentum Holdings, Inc. reports developments tied to its advanced engineering and technology solutions for U.S. and allied government agencies, international customers and commercial markets. Company news commonly covers mission support contracts, nuclear engineering and decommissioning work, space systems operations, defense logistics, aviation support, digital infrastructure and environmental services.
Recurring updates also include quarterly earnings communications, contract awards, joint-venture activity, operational expansions and investor relations or governance changes. Amentum’s releases frame its work across science, security and sustainability, including NASA ground systems support, small modular reactor programs, nuclear research-site cleanup, aerial firefighting operations and Indo-Pacific logistics capabilities.
Amentum (NYSE: AMTM) has appointed Darren Burton as Chief People Officer, effective immediately. Burton will oversee talent strategy and management for the company's 53,000 employees across 80 countries. He brings over 20 years of experience and previously served as chief people officer at Eightfold AI, vice chair of human resources at KPMG, and VP of HR at Raytheon. At Raytheon, he managed HR strategies for a $6 billion organization with 16,000 employees and led HR efforts for multiple acquisitions. Burton holds a BA in sociology from the University of Oswego and a master's in industrial and labor relations from Cornell University.
Jacobs Solutions reported strong Q4 2024 results with revenue reaching $3.0 billion, up 4.4% year-over-year. The company completed the separation of its Critical Mission Solutions and Cyber & Intelligence businesses, now trading as Amentum (NYSE: AMTM). Q4 highlights include net income of $309 million (up 333.1% y/y), adjusted EBITDA of $289 million (up 12.5%), and EPS of $2.38 (up 277.8%). Backlog grew 22.5% to $21.8 billion. For FY2024, revenue was $11.5 billion (up 6.0%), with net income of $613 million (up 61.6%). The company provided FY2025 guidance expecting mid-to-high single-digit revenue growth and adjusted EPS of $5.80-$6.20.
Amentum (NYSE: AMTM) has been selected as part of a consortium to manage and operate Fermi National Accelerator Laboratory. The contract was awarded to Fermi Forward Discovery Group, , led by the University of Chicago and Universities Research Association, with Amentum and Longenecker & Associates as partners. The contract has a maximum value of $5 billion for an initial five-year base period with potential extensions up to 20 years. Operations will begin January 1, 2025, following a 90-day transition starting October 1, 2024. Fermilab, located in Batavia, Illinois, focuses on particle physics research using advanced accelerators and collaborates with over 50 countries.
Amentum (NYSE: AMTM) has secured a $490 million contract from the U.S. Navy to provide comprehensive contractor logistics support for the T-54A Multi Engine Training System (METS). The contract aims to modernize the Navy's training aircraft fleet, replacing the aging T-44C aircraft. The METS program will support pilot training for Navy, Marine Corps, Coast Guard, and allied forces through 2055, facilitating transitions to advanced aircraft like the V-22 Osprey and P-8 Poseidon. The contract includes a one-year base period with four one-year options, with operations based at Naval Air Station Corpus Christi, Texas.
Amentum (NYSE: AMTM) has scheduled a conference call for December 17, 2024, at 8:30 AM EST to discuss its fiscal year 2024 financial results, covering the period ending September 27, 2024. The company will release its financial results before the call.
The event will be accessible to the public through a webcast link on Amentum's Investor Relations Website, where interested parties can later access the replay, earnings release, presentation slides, and supplemental financial information.
Amentum (NYSE: AMTM) has been awarded the Fully Integrated Lifecycle Mission Support Services II (FILMSS II) contract by NASA, with a maximum value of $256 million. This contract aims to support NASA's exploration and aeronautics objectives at the Ames Research Center. Amentum will introduce advanced project management tools and deliver tailored solutions across various NASA missions, including planetary science, astrophysics, space biosciences, and more.
The contract includes a two-year base period with three one-year options. Amentum's scope of work encompasses program, science, engineering, operations, and project management solutions. The majority of the work will be conducted on-site at NASA's Ames Research Center in California.
Jacobs (NYSE: J) has completed the spin-off of its Critical Mission Solutions and Cyber & Intelligence government services businesses, which have merged with Amentum Parent Holdings to form Amentum Holdings, Inc. (NYSE: AMTM). This strategic move transforms Jacobs into a more focused, higher-value company specializing in critical infrastructure and sustainability solutions.
The simplified Jacobs will concentrate on high-growth sectors such as advanced manufacturing, cities & places, energy, environmental, life sciences, transportation, and water. The company retains its innovative data solutions and digital technologies business, important for delivering digitally enabled critical infrastructure solutions.
Post-transaction, Jacobs' shareholders hold approximately 51% of Amentum's stock, with Jacobs retaining a 7.5% stake. An additional 4.5% is held in escrow as contingent consideration, subject to the Separated Business meeting certain fiscal year 2024 operating profit targets.
Amentum (NYSE:AMTM) will join the S&P 500 effective prior to the open on Sept 30, 2024, replacing Bath & Body Works (NYSE:BBWI). Bath & Body Works will move to the S&P SmallCap 600 prior to the open on Oct 1, 2024, replacing Movado (NYSE:MOV).
Jacob's Solutions (NYSE:J) is spinning off its Critical Mission Solutions and Cyber Intelligence business, which will merge with private Amentum to create the newly public Amentum Holdings in a transaction expected to complete on Sept 30, 2024. S&P Dow Jones Indices says Bath & Body Works is no longer representative of the large-cap market space and Movado is no longer representative of the small-cap market space.
Jacobs Solutions has announced key dates for the spin-off of its Critical Mission Solutions and Cyber & Intelligence government services businesses. The record date is set for September 23, 2024, and the distribution date for September 27, 2024. This spin-off will merge these businesses with Amentum, creating a new publicly traded company on the NYSE under the ticker symbol AMTM.
Jacobs shareholders will receive one share of Amentum common stock for every Jacobs share held on the record date. Post-transaction, Jacobs shareholders will own 51% of Amentum, with Jacobs retaining 7.5%. An additional 4.5% will be held in escrow as contingent consideration. Jacobs intends to dispose of its stake in Amentum within 12 months of the distribution.