A Note From Our President & Founder Jim Garrettson
Government contracting’s M&A and financial aspects took center stage again this week and GovCon Wire hit on all the major events as Executive Mosaic’s home of market-moving news for the sector.
On Tuesday, Leidos’ executive team detailed the contractor’s financial and strategic outlook to analysts at the New York Stock Exchange for its annual “Investor Day†that centered around one major topic: the mega-merger with Lockheed Martin’s services segment.
Analysts had plenty of questions for dual 2016 Wash100 inductees CEO Roger Krone and CFO Jim Reagan on Leidos’ three-year strategy and changing market dynamics.
GovCon Wire’s full recap of the Leidos NYSE Investor Day is available here.
Engility was one of the early players in GovCon services consolidation via the acquisition of its Chantilly, Virginia neighbor TASC first announced in October 2014 and closed four months later.
Engility started the week on the front foot with second quarter earnings released Monday that “Beat The Street†and analysts subsequently asked CEO Lynn Dugle and CFO Wayne Rehberger about the contractor’s organic growth-focused strategy.
This week also marked a rare entry of an activist investor into the GovCon market as Barry Rosenstein’s Jana Partners hedge fund disclosed a stake in Harris Corp. and reached an agreement with the radio maker on two mutual board appointments.
Jana’s reputation among the investment and general business media communities is to quietly push for changes as opposed to the more high-profile, aggressive likes of Carl Icahn and Bill Ackman.
Next week features two major earnings calls from CSC and its government spinoff CSRA in light of the former’s agreement to merge with HPE’s enterprise services segment that includes a significant public sector piece.
Raytheon Technologies’ (NYSE: RTX) intelligence and space business has received a potential $234 million contract from the U.S. Space Force to update Blocks 1 and 2 of the GPS Next-Generation Operational Control System to facilitate the integration of GPS Block III Follow-on satellite capabilities. The Space and Missile Systems Center obligated $20 million in research,
A second GPS III satellite that Lockheed Martin (NYSE: LMT) built for the U.S. Air Force has responded to commands and used an internal propulsion system while cruising toward its operational orbit.
Rick Ambrose, head of Lockheed Martin’s (NYSE: LMT) space business and a 2019 Wash100 winner, told C4ISRNET in an interview published Monday that the Air Force’s missile warning satellite initiative - Next-Generation Overhead Persistent Infrared program – will offer more flexibility and built-in resiliency capabilities.
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