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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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