Lockheed: Aerojet Rocketdyne acquisition now expected to close in 2022

摘要

Lockheed Martin is now projecting its acquisition of Aerojet Rocketdyne will close in the first quarter of calendar year 2022, rather than the fourth quarter of this year, as previously expected. CEO Jim Taiclet told investors during a quarterly earnings call today that the deal "continues moving through the regulatory approval process" as officials await the federal nod they anticipated would come before the close of this year. The company's news release unveiling the Q3 financial results note Lockheed's preliminary 2022 outlook doesn't incorporate the pending acquisition, adding that "changes in circumstances may require the company to revise its assumptions, which could materially change its current estimate of 2022 net sales, business segment operating margin, and cash flows." The updated timeline comes as the company lowered its 2021 revenue expectations by 2.5%, to roughly $67 billion, and executives warned next year's could drop to $66 billion.