A Note From Our President & Founder Jim Garrettson
In this last full week before a most unusual election, the evolving narrative of a re-shaping government contracting landscape added more chapters as this week’s assortment of stories GovCon Wire covered show.
To start, a group that noted market observer Bob Kipps described to GovCon Wire as the “non-traditional” buyer gained a new member in the form of our country’s largest military shipbuilder Huntington Ingalls Industries.
HII announced Wednesday its $380 million buy of Camber Corp. and subsequent creation of a new $1 billion government services segment in efforts to diversify revenue and generate additional cash flow for shareholder return.
Leidos, now the largest GovCon services company, lifted full-year earnings and revenue guidance in the company’s first financial statement since the blockbuster merger with Lockheed Martin’s former IT business.
Finally, ManTech announced Thursday it has elevated Chief Financial Officer Kevin Phillips to the president and chief operating officer roles and he will be succeeded as CFO by current deputy finance chief Judy Bjornaas with both appointments to take effect Nov. 7.
Phillips described his new role to investors Thursday in ManTech’s third quarter earnings call, plus offered an outlook GovCon’s current acquisition environment and how it could shape itself post-election.
In short, what a week this was. And what a week this coming one will be.
Executive Mosaic’s GovCon Index closed at an all-time high Wednesday for the second time in three sessions as U.S. stocks also extended their record-setting rally in their best one-day performance of 2017 so far with the S&P 500 composite index above 2,400 for the first time during intraday trade after President Donald Trump’s Tuesday night speech to
Executive Mosaic’s GovCon Index and U.S. stocks fell Tuesday at their worst one-day declines over the past month as investors looked ahead to President Donald Trump’s speech before a joint session of Congress at 9:00 p.m. Eastern time for further clues on his economic agenda that has included promises of tax cuts, deregulation and defense spending increases. GovCon
Executive Mosaic’s GovCon Index posted its biggest one-day decline in a month Thursday with services and industrial components the largest drags in a session that saw U.S. equities struggle for clear direction as investors looked for more clarity on President Donald Trump’s economic agenda. GovCon Index decliners outnumbered advancers by a 5-to-1 ratio as only two of its