Aerojet Rocketdyne reports improved sales, profit

By Marjorie Censer / February 18, 2021 at 5:24 PM

Aerojet Rocketdyne said today sales in its most recent quarter totaled $557 million, up 6% from the same three-month period a year earlier.

The company's quarterly profit reached $35.4 million, up nearly 40% from the prior year.

Aerojet Rocketdyne attributed the sales increase to its Standard Missile, Terminal High Altitude Area Defense and RS-25 programs.

In 2020, the company recorded sales of almost $2.1 billion, up about 5% from 2019. Profit for the year totaled $137.7 million, down about 2%.

Aerojet Rocketdyne said the RS-25, Medium Range Ballistic Missile and Guided Multiple Launch Rocket System programs drove the increase in 2020 sales.

However, it said profit declined slightly because of cost growth on a portion of the Standard Missile program in 2020 as well as cost growth and performance issues on the Commercial Crew Development program, among other issues.