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Business/Financial

Supply Chain, Litigation Costs Help Send Earnings Down At Aerojet Rocketdyne

By Cal Biesecker

Monday, August 1st, 2022

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Supply Chain, Litigation Costs Help Send Earnings Down At Aerojet Rocketdyne

Aerojet Rocketdyne President and CEO Eileen Drake. Photo: Aerojet Rocketdyne.

Aerojet Rocketdyne [AJRD] on Monday posted lower earnings and sales in its second quarter due to supply chain disruptions, favorable performance a year ago on a rocket engine that made for challenging comparison in the latest quarter, and litigation costs associated with bruising proxy battle and lower volume on several programs. Net income dove 64 percent to $16.4 million, 20 cents earnings per share (EPS), from $45 million (54 cents EPS) a year, 27 cents below consensus estimates. Sales fell…

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