CNBC's Phil LeBeau reports comments from Boeing CEO Dennis Muilenburg on the sidelines
of the aerospace company's annual meeting.
Jeff Bezos, CEO of Amazon.com and founder
of aerospace company Blue Origin, is just a few billion dollars away from dethroning Bill Gates to become the world's richest person.
McNulty, chairman
of aerospace company Short Brothers, stresses that the industry must shoulder most of the burden of rebuilding its technology base, but that its success depends on the government's contribution.
I apply for engineering jobs via the career site
of an aerospace company that lists 20 - 30 new job reqs each day.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability
of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost
of accommodating, announced increases in the build rates
of certain aircraft; 6) the effect on aircraft demand and build rates
of changing customer preferences for business aircraft, including the effect
of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result
of global economic uncertainty or otherwise; 8) the effect
of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution
of key milestones such as the receipt
of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation
of our announced acquisition
of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability
of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk
of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production
of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts
of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak
of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact
of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition
of Asco on favorable terms or at all; 18) competition from commercial
aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect
of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect
of changes in tax law, such as the effect
of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations
of or guidance related thereto, and the
Company's ability to accurately calculate and estimate the effect
of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability
of raw materials and purchased components; 23) our ability to recruit and retain a critical mass
of highly - skilled employees and our relationships with the unions representing many
of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment
of interest on, and principal
of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness
of any interest rate hedging programs; 28) the effectiveness
of our internal control over financial reporting; 29) the outcome or impact
of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition
of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result
of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks
of doing business internationally, including fluctuations in foreign current exchange rates, impositions
of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Shares
of KLX rose 9 percent on Friday after the Wall Street Journal reported that Boeing is nearing a deal to buy the
aerospace parts
company.
While delays are common in the
aerospace industry, the «magnitude»
of the pressure is «heightened» for Bombardier due to the
company's investment in the CSeries program, wrote Spracklin.
Even with an anti-trade President, from
aerospace to consumer goods, Canadian
companies can still find plenty
of trade partners in the United States
Chuck Atkinson, president
of transportation District 140
of the International Association
of Machinists and
Aerospace Workers, the
company's largest union, described Rovinescu's pay in a letter to the president as «a personal insult and a slap in the face to all our members.»
««Overall, the
company is trying to prudently manage their cash and their liquidity position, while they have the pressure
of two major
aerospace programs on the go that are both going to see material delays,» says Scott Rattee, an equity analyst with Stonecap Securities.
One
of the
company's recent bets on innovation came in the form
of its acquisition
of Aurora Flight Sciences, a leader in autonomous systems and
aerospace platforms.
The
aerospace company says the launch vehicle, the first
of its kind for SpaceX, is the most powerful rocket in the world today.
Boosting defense spending is not just something the U.S. wants, CFO
of the
aerospace and logistics
company Thales told CNBC.
• Belcan, a portfolio
company of AE Industrial Partners, acquired CDI's, a Philadelphia - based defense contractor,
aerospace and industrial equipment business unit.
Martin Ross, another
of the paper's authors, who works at the
Aerospace Corp. in El Segundo, Calif., explains that hybrid motors favoured by space tourism
companies are safer, cheaper to run, and quicker to refuel than the liquid or solid rocket boosters that have dominated rocketry thus far.
Jenkins turns the floor over to his keynote speaker, the former CEO
of a major Fortune 500
aerospace and defense
company and vocal supporter
of the drone industry.
The layoffs represent less than five per cent
of the more than 35,000 global workforce at Bombardier
Aerospace, one
of the
company's two main divisions.
Instead
of the specialists sought by
aerospace companies, he encourages his staffers to remain generalists who can design anything from a fuselage to a door handle and then go into the shop and build it.
NASA has a long history
of launching them, and Virgin Galactic — Richard Branson's
aerospace company — is now building and testing a suborbital vehicle called SpaceShipTwo.
The CSeries poses no threat to the U.S.
aerospace industry because building it at the Airbus factory in Alabama would create U.S. jobs and generate billions
of dollars in business for U.S.
aerospace companies, Bombardier said.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the
aerospace industry, levels
of air travel, financial condition
of commercial airlines, the impact
of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8)
company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined
company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation
of their businesses while the merger agreement is in effect; (21) risks relating to the value
of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined
company, to retain and hire key personnel.
«It is possible that the acquisition
of COL is the first step in separating UTX into two entities: a Commercial Operation and a Defense and
Aerospace Group,» Howard Rubel, equity analyst at Jefferies, said in a note last week as speculation about a deal being struck by the two
companies increased.
Jeff Bezos is the founder
of Amazon.com and owner
of the Washington Post and
aerospace company, Blue Origin.
Since 2010, China has been the world's top purchaser
of light vehicles manufactured by General Motors, and today it's an exploding market for
aerospace and defense
companies.
Although 64 %
of Bombardier
Aerospace's employees are unionized, López claims that international
companies have a «gentleman's agreement» to compete on perks such as food and transportation rather than wages.
The
aerospace giant has been in deal talks with Brazil's Embraer, the maker
of smaller regional jets, the
companies said this week.
Once considered largely an
aerospace and defense manufacturer, Boeing (ba) is now unquestionably a tech
company in its own right, says Ian Mortimer, comanager
of the top - performing Guinness Atkinson Global Innovators Fund.
Musk founded the
aerospace company in 2002 in order «to revolutionize space technology, with the ultimate goal
of enabling people to live on other planets,» according to the
company website.
The $ 65 billion
aerospace and defense conglomerate General Dynamics is adding another
company into its fold with the $ 9.6 billion acquisition
of CSRA, the
companies announced in February.
It also bought Swedish
company Arcam, which specializes in metal - based 3D printing, selling mainly to the
aerospace and healthcare industries, for a total
of $ 685 million.
The
company gets 70 %
of its $ 10 billion in revenue from the
aerospace industry, as airlines have ramped up demand for fuel - efficient jets.
Respondents came from the
aerospace, medical, automotive, and energy industries, and all
of them work for
companies that are already using advanced manufacturing processes or plan to introduce things like 3D printing or direct metal laser sintering within three years.
To prepare for this shift in 3D printing, one that will see more
companies using additive manufacturing, especially with metals, to manufacture end - use parts,
companies are staffing up, training new workers, and buying more 3D printing machines, SDM's report shows that 73 %
of the 700 respondents to SDM's survey said their
companies plan to increase their in - house production
of additively manufactured parts, a trend more pronounced in the
aerospace and medical industries.
One
of the big reasons this is a buy is that the
company sells its metals to businesses in growing industrial sectors, such as
aerospace and automotive.
«Unfortunately, the Commerce Department decision is divorced from this reality and ignores long - standing business practices in the
aerospace industry, including launch pricing and the financing
of multibillion dollar aircraft programs,» the
company said in a statement.
The
company's share price has climbed steadily over the course
of the year, a trend lofted by expectations
of increased defense spending under the new administration as well as strong demand for its Pratt & Whitney jet engines and other
aerospace parts.
Blue Origin, the
aerospace company owned by Amazon.com founder Jeff Bezos, has announced it is working on the New Glenn — the
company's first rocket capable
of going beyond LEO.
His coverage includes
companies operating in the railroad, airline,
aerospace, trucking and logistics segments
of the North American transportation industry.
For example, it's home to more than 70
aerospace companies, according to the City
of Tulsa.
David Melcher, chief executive
of the
Aerospace Industries Association, said
companies have turned to buybacks because
of a dearth
of new weapons programs and under pressure from Wall Street.
Initially, the directors rejected the proposal: They felt it would strain resources, particularly as Tesla was dealing with manufacturing challenges with its Model X. (Separately, a month later, SpaceX purchased $ 90 million worth
of bonds from SolarCity, a move that reportedly raised eyebrows in Washington, with some lawmakers concerned that Musk was using his
aerospace venture's high - priced government contracts to buoy his solar
company.)
This panel will discuss how
companies large and small and government entities are collaborating to build new relationships that can take full advantage
of the changes taking place in the
aerospace industry.
Since then the industry has grown with ETFs following narrower benchmarks like stocks
of natural gas, restaurant or
aerospace companies.
Other large
aerospace companies like Boeing, Northrop Grumman, and Harris Corporation have each established educational outreach as a facet
of their corporate responsibility.
Hundreds
of innovative
companies, across industries including
aerospace and defense, food and beverage, and motor vehicles, rely on Plex to operate their manufacturing businesses and generate profit from every inch
of the plant floor.
By the early 1990s, private
aerospace companies had recognized the untapped commercial potential
of space and were experimenting with developing their own truly commercial launch vehicles.
He started his career in
aerospace and has been CEO / Chairman
of pre-public and start up
companies in the fields
of web graphics and social networking.
Its
aerospace business, KLX Aerospace Solutions, is the most important part of the company and traces its roots back
aerospace business, KLX
Aerospace Solutions, is the most important part of the company and traces its roots back
Aerospace Solutions, is the most important part
of the
company and traces its roots back decades.
Aerospace and Defense With Trump in the White House and both houses of Congress being controlled by Republicans, it's no surprise to see big aerospace companies like Boeing up over
Aerospace and Defense With Trump in the White House and both houses
of Congress being controlled by Republicans, it's no surprise to see big
aerospace companies like Boeing up over
aerospace companies like Boeing up over 50 % YTD.
First, it's great for investors to have an idea
of what «multiple range» a
company has traded at in the past — there's a lot
of value to this, and most relevant for cyclical firms (mainly industrials) that may, from a fundamental standpoint, exhibit similar (but not identical) patterns with respect to both earnings and their PE through the course
of each economy cycle: think Boeing (BA) and the commercial
aerospace cycle; Ford (F) and consumer demand for auto sales; or United Continental (UAL) with respect to premium air travel demand.