A Note From Our President & Founder Jim Garrettson
Outlooks of the government contracting market’s future trajectory and its ongoing dynamics dominated the attention of sector leaders and observers this week, during which GovCon Wire helped capture the larger conversation.
Third quarter financial statements from the largest GovCon primes of course were part of that but of equal and sometimes greater interest to analysts is how the longer-term horizon looks for the largest players in an unprecedented year of change and reshaping.
We highlighted three of the week’s key CEO perspectives to investors in our “Top 10” list but want to single out Thursday’s comments from leaders at CACI, L-3 and Raytheon that described how they are positioning themselves in the market and making investments.
The ever-active CACI continues to look at the acquisition scene after it bought the NSS business from L-3 but has transitioned to a phase of striving for organic revenue growth, CEO Ken Asbury said.
For L-3 and Raytheon, the focus is primarily on technology-focused buys in new market channels.
Of particular note, Leidos CEO Roger Krone and CFO Jim Reagan will talk to Wall Street next Thursday morning to discuss third quarter results in that company’s first earnings call since its watershed merger into the former Lockheed Martin services business that closed Aug. 16.
In addition, GovCon Wire sat down with noted M&A and capital market observer Bob Kipps of investment bank KippsDeSanto to get his views on the industry’s health and how many larger players have returned to organic growth after years of contraction.
These 10 months so far have also seen previously inactive names — or what Kipps called the “non-traditional” buyer – enter GovCon’s acquisition environment and give a vote of confidence to the sector’s prospects for future growth opportunities.
Army Kicks Off $6B HR Support Contract Bids
Between 12 and 16 positions are up for grabs under the potential 10-year vehicle that will be awarded on a “best value tradeoff” sourcing method.
General Dynamics (NYSE: GD) has presented its first quarter 2024 results and reported that revenue and net earnings grew 8.6 percent and 9.5 percent year-over-year to $10.7 billion and $799 million. The company said Wednesday its operating earnings reached $1 billion, or 10.4 percent higher from a year ago, while company-wide backlog went up 4.4
General Dynamics (NYSE: GD) has reported fourth-quarter revenue of $11.7 billion, a 7.5 percent increase over the same period a year ago and disclosed quarterly net earnings of $1 billion and diluted earnings per share of $3.64. An earnings statement published Wednesday states that General Dynamics' aerospace segment obtained orders worth $3.2 billion during the quarter with a backlog of $20.5 billion, up 4.8 percent from prior-year figures.
Kim Kuryea, senior vice president of human resources and administration at General Dynamics (NYSE: GD), will assume the role of chief financial officer at the company on Feb. 15 as part of a series of executive moves. She will succeed Jason Aiken, who currently holds the dual role of executive vice president of technologies and CFO.