Kaman Corp Stock Price, News & Analysis

Kaman Composites - Wichita, an indirect subsidiary of Kaman Corporation (NYSE:KAMN), has achieved European Union Aviation Safety Agency (EASA) approval for its FAA Part 145 Repair Station in Wichita, Kansas. This certification expands Kaman's composite repair capabilities to the commercial aviation market. Senior Director Malissa Nesmith emphasized that earning the EASA Certification is crucial for their growth strategy, enabling them to offer Dual Release tags and additional airframe repairs. Kaman Composite Structures continues to enhance its services, including radomes and rotor blade repair.

Kaman Composites - Wichita, an indirect subsidiary of Kaman Corporation (NYSE:KAMN), marked a milestone by delivering the 1500th inlet unit for the CH-47 Boeing Program by the end of August. The CH-47 Chinook, a heavy-lifting helicopter, is crucial for programs supporting the U.S. Army and British Royal Air Force. Kaman emphasizes its longstanding commitment to defense programs, showcasing its experienced workforce and dedication to producing high-quality components for military applications.

Kaman Corporation (NYSE: KAMN) has introduced the KARGO UAV, a purpose-built autonomous unmanned system designed for logistics in military operations. This UAV is rugged, compact, and can be deployed by two personnel. It has a range of 523 nautical miles and can lift 800 lbs. The KARGO UAV aims to address persistent logistics challenges faced by military personnel and has potential commercial applications. Flight testing of a full-scale model is scheduled for 2022, with Near Earth Autonomy providing advanced technologies for obstacle avoidance and navigation.

Kaman Corporation (NYSE: KAMN) announced that its subsidiary, Kaman Aerospace Group, will manufacture the Vy 400 High Speed Vertical Takeoff and Landing (HSVTOL) aircraft for Transcend Air Corporation. The Vy 400 aims to enhance regional travel efficiency, reaching speeds over 400 mph, allowing for rapid trips like Manhattan to Boston in 36 minutes. Kaman's CEO emphasized the economic benefits of the aircraft, with production scaling to meet high demand. Kaman's Jacksonville facility will produce the aircraft, leveraging its extensive rotorcraft experience.

Kaman Corp. (NYSE:KAMN) has received a $43 million order under Option 16 of its Joint Programmable Fuze (JPF) contract with the U.S. Air Force. Deliveries are expected to begin in 2022, adding this value to the company's backlog. The JPF enhances mission flexibility and reliability, catering to various aircraft and munitions. Kaman has supplied the JPF to the USAF since 2002 and to over 40 other nations, demonstrating its significance in military operations. The company emphasizes maintaining high quality and on-time delivery while seeking further opportunities.

Kaman Corp. (KAMN) reported a strong second fiscal quarter ending July 2, 2021, with net sales from continuing operations increasing by 2.5% year-over-year to $182.4 million. Operating income surged to $14.8 million, compared to a loss of $2.8 million in the previous year. Adjusted diluted earnings per share rose by 55.6% to $0.56. The Medical and Industrial segments showed substantial growth, with Medical sales up 54.8%. The company anticipates a recovery in its Commercial Aviation products and has revised its full-year outlook for Adjusted EBITDA to between $87.5 million and $97.5 million.

Kaman Corporation (NYSE: KAMN) has declared a quarterly dividend of 20 cents per common share, payable on October 14, 2021, to shareholders on record as of September 21, 2021. Founded in 1945 by aviation pioneer Charles H. Kaman, the company is diversified in the aerospace, defense, industrial, and medical markets. It specializes in aircraft components, helicopter support, and missile systems for military applications.

Kaman Corp. (NYSE:KAMN) will report its second quarter 2021 results on August 5, 2021, after market close. A live webcast and conference call will follow on August 6, 2021, at 8:30 am ET. Investors can join the call by dialing (844) 473-0975 in the U.S. or (562) 350-0826 internationally, using Conference I.D.: 1672665. The call can also be accessed online at www.kaman.com. A replay will be available two hours post-call via designated phone numbers.

Kaman Corporation (NYSE:KAMN) announces the appointment of James Coogan as Senior Vice President and Chief Financial Officer, effective immediately. Coogan, a 12-year veteran at Kaman, succeeds Robert Starr, who will assist during the transition until July 31, 2021. Coogan has held various roles, enhancing SEC reporting and playing a key role in acquisitions. He will oversee financial reporting, risk management, and investor relations. Kaman's leadership highlights Coogan's strategic mindset and leadership as vital for ongoing growth and financial health.