A Note From Our President & Founder Jim Garrettson
Third quarter earnings season has come to a conclusion and the week of gives us a good checkpoint to see how the GovCon sector fared in this round.
Twenty-six out of 30 GovCon Index-listed contractors have reported financial results for their third quarters or other fiscal periods since the Sept. 30 market close with SAIC and military truck maker Navistar due to post earnings figures in December.
Of the 26 that released numbers, 19 met or exceeded Wall Street’s earnings expectations and 9 out of those 19 topped or equaled the consensus analyst forecast for both earnings and revenue.
Shipbuilding giant Huntington Ingalls also soared past analyst estimates and rocket manufacturer Orbital ATK exceeded The Street’s forecasts.
Radio maker Harris Corp. was in line with Street earnings expectations for that company’s first fiscal 2016 quarter, its first full three-month financial period since the Exelis acquisition.
GovCon’s services area also included many “beats†from players such as engineering firm AECOM, consultant Booz Allen and national security-health contractor Leidos.
This earnings season also featured outlooks from Index CEOs Tony Smeraglinolo of Engility, Sudhakar Kesavan of ICF International and Kelly Ortberg of Rockwell Collins on the two-year federal budget deal signed in November.
All three indicated the industry would have further clarity over the next two years as opposed to prior periods that featured stopgap funding measures and prospects of government shutdowns.
David Levy, an aerospace and defense executive, has been named chief revenue officer at DZYNE Technologies, an unmanned autonomous systems developer. He succeeds Christopher Miller, who has served as interim CRO but will stay with DZYNE as chief of strategic pursuits and board member, the company said Tuesday. As CRO, Levy will oversee revenue operations
Christopher Miller, a retired U.S. Army officer and former acting secretary at the Department of Defense, has been named interim chief revenue officer at autonomous systems maker DZYNE Technologies. He will work closely with the company’s leadership team to accelerate government market growth initiatives and identify international partnership opportunities for its technology, DZYNE said Wednesday.
Christopher Miller, acting secretary at the Department of Defense, has named 11 individuals to join the Defense Business Board and advise the DoD leadership on business management matters.
