Aerojet Rocketdyne down on Q2 profit and revenue decline

Aerojet Rocketdyne Holdings

01/08/2022 12:52

** Shares of rocket engine maker Aerojet Rocketdyne Holdings
Inc  AJRD.N  down 8.5% at $40 premarket after reporting lower Q2
revenue and profit
    ** AJRD reports Q2 net sales of $528.6 mln vs $556.9 mln, a
year ago 
    ** Decline in net sales primarily driven by a decline on the
Standard Missile, RS-25, and RS-68 programs - Aerojet
    ** Reports net income 20 cents/shr, compared to 56 cents/shr
a year ago 
    ** Decrease in net income primarily driven by cost growth
from supply chain disruptions, and necessary technical and
manufacturing changes on a portion of the Standard Missile
program - Aerojet
   ** Up to Friday's close, AJRD shares had lost ~7% YTD

 (Reporting by Kannaki Deka in Bengaluru)
 ((Kannaki.Deka@thomsonreuters.com))