A Note From Our President & Founder Jim Garrettson
Government contractingâs M&A and financial aspects took center stage again this weekÂ and GovCon Wire hit on all the major events as Executive Mosaicâs home of market-moving news for the sector.
On Tuesday, Leidosâ executive team detailed the contractor’sÂ financial and strategic outlook to analysts at the New York Stock Exchange for itsÂ annual âInvestor Dayâ that centered around one major topic: the mega-merger with Lockheed Martinâs services segment.
Analysts had plenty of questions for dualÂ 2016 Wash100 inductees CEO Roger Krone and CFO Jim Reagan on Leidosâ three-year strategy and changing market dynamics.
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 fourÂ months later.
Engility started the week on the front footÂ with second quarter earnings releasedÂ Monday that âBeat The Streetâ 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 formerâs agreement to merge with HPEâs 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,
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.