Orbital ATK 3Q Earnings, Revenue Top Wall Street Forecasts; Company Raises 2015 Outlook

Orbital ATKOrbital ATK (NYSE: OA) — one of 30 companies listed on Executive Mosaic’s GovCon Index — has reported third quarter earnings of $1.35 per share, 25 cents above Wall Street analyst forecasts.

The Dulles, Va.-based space systems and ammunition maker also posted $1.135 billion in revenue for the quarter on strong satellite sales in its space systems group in commercial, civil and defense markets.

Wall Street analysts forecasted approximately $1.09 billion in revenue for the quarter.

Orbital ATK started regular-way trading on the New York Stock Exchange Feb. 10 and was created out of the merger between the former Orbital Sciences Corp. and the aerospace and defense groups from the company then known as ATK, or Alliant Techsystems.

Orbital ATK presented its third quarter results as if the merger occurred Jan. 1, 2014 and said that entity would have recorded $1.15 earnings per share and $1.112 billion in revenue.

David Thompson, chairman and CEO, told investors he believes the combination helped Orbital ATK to secure the 15-year contract to supply rocket boosters to the United Launch Alliance for ULA’s Atlas V and the future Vulcan vehicle.

ULA is a 50-50 joint venture owned by Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT).

The company also raised its full-year earnings guidance to between $4.75 and $4.85 per share from the prior $4.60-to-$4.80 range and adjusted its revenue outlook to between $4.45 billion and $4.5 billion from the previous $4.425 billion-$4.5 billion range.

As of Oct. 4, the company holds a firm backlog of $8.7 billion and a total backlog of $13.82 billion that includes options, indefinite-delivery/indefinite-quantity contracts and undefinitized orders.

Shares of Orbital ATK have risen 33.44 percent since Feb. 10.

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