Aerojet Rocketdyne Holdings, Inc. reaffirmed its strong foundation for substantial value creation following the termination of its merger agreement with Lockheed Martin Corporation. The Company issued the following statement:
We are poised to deliver substantial value to our shareholders driven by our continued leadership in keyspace exploration and defense growth markets, including by advancing hypersonics and strategic, tactical, and missile defense systems. Aerojet Rocketdyne has delivered strong shareholder returns of 166% over the five years before the transaction announcement, significantly outperforming the Aerospace and Defense Index by 33% and the S&P 500 by 62%.
We are confident in our future performance with an impressive backlog that is more than three times the size of our annual sales and a strong macroeconomic environment underpinning our portfolio. We look forward to providing further details regarding our financial performance and strategy on our fourth quarter and full-year 2021 earnings report on Feb. 17, 2022.