Kaman Corp Stock Price, News & Analysis

Kaman Corp. (NYSE:KAMN) will report its fourth quarter 2020 results on February 25, 2021, after market close, with a follow-up conference call on February 26, 2021, at 8:30 am ET. A supplemental presentation on these results will be available on the company’s website before the earnings call. The call can be accessed by phone or online. Kaman Corporation, established in 1945, operates in aerospace, defense, and industrial sectors, producing various aircraft components and services.

Kaman Air Vehicles, a division of Kaman Corporation (NYSE:KAMN), has secured a purchase agreement for its K-MAX® medium-to-heavy lift helicopter, with delivery set for Q1 2021. This follows the delivery of two aircraft in Q4 2020, reflecting ongoing demand for K-MAX® in various markets. The company is also developing an improved K-MAX® Unmanned Aerial System, expecting ground and flight tests to begin in the first half of 2021. The K-MAX® is designed for high-performance external load operations, capable of lifting up to 6,000 pounds under challenging conditions.

Kaman Air Vehicles, a division of Kaman Corporation (NYSE: KAMN), announced that Brazil's Agencia Nacional de Aviação Civil (ANAC) issued a Type Certificate for the K-1200 K-MAX^® helicopter. This certification facilitates K-MAX^® operations in Brazil, where Kaman has been targeting operators in power line, oil and gas sectors. The K-MAX^® helicopter, which can lift up to 6,000 pounds, is designed for low maintenance and high performance under tough conditions, making it suitable for Brazil's infrastructure needs.

Kaman Corp. (NYSE:KAMN) announced the appointment of Kristen M. Samson as Chief Marketing Officer, effective January 18, 2021. She joins Kaman from Textron, where she held various senior marketing roles. The company’s CEO, Ian K. Walsh, expressed confidence in her extensive marketing experience, emphasizing that her leadership will enhance the company’s marketing capabilities and overall effectiveness. With over 20 years in marketing and communications, including a decade in telecommunications, Samson's expertise is expected to benefit Kaman across its organizational structure.

Kaman Corp. (NYSE:KAMN) has appointed Russell J. Bartlett as Chief Operating Officer, effective January 4, 2021. Bartlett brings extensive experience from Textron Airborne Solutions and Beechcraft Corporation, where he held senior leadership roles. His military background includes serving as a Captain in the U.S. Navy, leading various defense initiatives. CEO Ian K. Walsh emphasized Bartlett's leadership skills and experience in aerospace and defense, which are expected to enhance Kaman's business operations and development.

Kaman Composites – Wichita, an indirect subsidiary of Kaman Corporation (NYSE:KAMN), has expanded its composite repair services into the business jet aftermarket. This collaboration with C&L Aerospace, named as the exclusive distributor for these services from Kaman's FAA Part 145 Repair Station in Wichita, Kansas, allows for structural repairs on various business jet platforms, including Textron and Bombardier. Previously focused on military programs, this strategic move supports growth in the business aviation sector.

Kaman Corporation (NYSE: KAMN) declared a quarterly dividend of 20 cents per share, set for payment on January 14, 2021. Shareholders recorded by December 15, 2020 will receive this dividend. Founded in 1945, Kaman operates in aerospace & defense, industrial, and medical markets, producing various components such as aircraft bearings and complex aerostructures. The company's commitment to shareholder returns is reinforced by this ongoing dividend payment.

Kaman Corporation (NYSE:KAMN) has appointed Michelle J. Lohmeier and Aisha M. Barry to its Board of Directors, expanding the Board to eleven members. Their terms will expire at the 2021 Annual Meeting of Shareholders. Lohmeier brings extensive aerospace experience from Spirit AeroSystems and Raytheon, while Barry has a strong background in healthcare management at Philips and Medtronic. These appointments are expected to enhance the Board's expertise, particularly in aerospace and medical sectors, which may positively impact future company growth.

Kaman Corp. (NYSE: KAMN) reported its Q3 2020 financial results with net sales of $213.96 million, an increase from $182.67 million in Q3 2019. However, the company faced an operating loss of $38.93 million, driven by a $50.3 million non-cash goodwill impairment. Adjusted diluted EPS rose to $0.70, up 52% year-over-year. Despite challenges due to COVID-19, organic sales grew by 6.7%. The company expects cash flow performance to continue positively, although risks from the pandemic linger.