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 Government contracting™s M&A and financial aspects took center stage again this week and GovCon Wire hit on all the major events as Executive Mosaic™s home of market-moving news for the sector.
On Tuesday, Leidos™ executive team detailed the contractor’s financial and strategic outlook to analysts at the New York Stock Exchange for its annual œInvestor Day that centered around one major topic: the mega-merger with Lockheed Martin™s services segment.
Analysts had plenty of questions for dual 2016 Wash100 inductees CEO Roger Krone and CFO Jim Reagan on Leidos™ three-year strategy and changing market dynamics.
GovCon Wire™s full recap of the Leidos NYSE Investor Day is available here.
Engility was one of the early players in GovCon services consolidation via the acquisition of its Chantilly, Virginia neighbor TASC first announced in October 2014 and closed four months later.
Engility started the week on the front foot with second quarter earnings released Monday that œBeat The Street and analysts subsequently asked CEO Lynn Dugle and CFO Wayne Rehberger about the contractor’s organic growth-focused strategy.
GovCon Wire covered that conversation with Engility leaders here.
This week also marked a rare entry of an activist investor into the GovCon market as Barry Rosenstein’s Jana Partners hedge fund disclosed a stake in Harris Corp. and reached an agreement with the radio maker on two mutual board appointments.
Jana’s reputation among the investment and general business media communities is to quietly push for changes as opposed to the more high-profile, aggressive likes of Carl Icahn and Bill Ackman.
GovCon Wire has more on that story here that also includes Harris’ one-year outlook.
Next week features two major earnings calls from CSC and its government spinoff CSRA in light of the former™s agreement to merge with HPE™s enterprise services segment that includes a significant public sector piece.
Expect analysts to ask for updates on that deal given CSC™s prior decision to exit the public sector market and CEO Mike Lawrie™s scheduled departure from the CSRA chairman role Monday.
THE WEEK’S OTHER TOP 10 GOVCON STORIES
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