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CHANTILLY, Va. - Engineering and technology solutions provider Amentum announced its future board of directors, set to take effect following the completion of its merger with Jacobs™ Critical Mission Solutions and Cyber and Intelligence businesses. The merger is scheduled to close on September 27, 2024.
Steven J. Demetriou, who will assume the role of executive chair of Amentum, emphasized the board's composition of industry and business leaders who are poised to strategically guide the company in addressing complex global challenges.
The board will include Steven J. Demetriou, John Heller, General Vincent K. Brooks (U.S. Army, Retired), Benjamin Dickson, General Ralph E. Eberhart (U.S. Air Force, Retired), Alan E. Goldberg, Leslie Ireland, Barbara L. Loughran, Sandra E. Rowland, Christopher M.T. Thompson, Russell Triedman, John Vollmer, and Connor Wentzell. These individuals will resign from their current positions on Jacobs™ and Amentum Joint Venture LP boards preceding or upon the merger's completion.
The incoming board members bring a diverse array of expertise, from military and national security to financial management and private equity. Notable careers include Demetriou's leadership roles at Jacobs, Heller's CEO position at Amentum, and General Brooks' extensive military experience.
The post-merger Amentum, headquartered in Chantilly, Virginia, is set to become a global leader in advanced engineering and technology solutions, with over 53,000 employees across 80 countries. The company is expected to begin trading on the NYSE under the ticker symbol "AMTM" on September 30, 2024.
This press release contains forward-looking statements regarding the merger and Amentum's future operations. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Factors that might affect outcomes include economic conditions, legislative changes, and the company's ability to achieve financial and strategic goals post-merger.
The information provided is based on a press release statement and is intended to offer a factual report on Amentum's upcoming merger and board of directors without speculation or promotional commentary.
In other recent news, Blue Bird (NASDAQ:BLBD) Corporation announced significant developments. The President of the company, Britton Smith, has resigned due to personal reasons, with CEO Phil Horlock set to assume the additional role. This leadership transition comes as Blue Bird continues to position itself as a leader in sustainable student transportation solutions.
The company recently reported record-setting fiscal 2024 third-quarter earnings, indicating a substantial increase in profitability and raising its full-year guidance. Blue Bird also highlighted robust growth in net orders for buses, including a surge in electric bus sales. The backlog of firm orders stands at over 5,200 units, equating to approximately $775 million in potential revenue.
In terms of capacity expansion, Blue Bird is investing in this area, supported by an $80 million grant from the Department of Energy. This will enable the production of up to 14,000 buses annually and the creation of about 400 new jobs. Future expectations suggest revenue growth and higher adjusted EBITDA in the upcoming years. For fiscal '24, the company projects revenue to reach $1.315 billion with adjusted EBITDA of $175 million. The fiscal '25 estimates indicate revenue between $1.4 billion and $1.5 billion, with adjusted EBITDA of $180 million to $200 million.
InvestingPro Insights
As Amentum prepares to navigate post-merger operations, financial metrics and expert analysis become crucial for investors evaluating the company's potential. According to InvestingPro, Blue Bird Corporation (BLBD), which operates in a related sector, provides an interesting comparison in terms of financial performance and market expectations.
InvestingPro Tips for BLBD indicate that net income is expected to grow this year, and three analysts have revised their earnings upwards for the upcoming period. These insights, found on https://www.investing.com/pro/BLBD, suggest a positive outlook and could be indicative of broader sector trends that Amentum may also experience post-merger.
InvestingPro Data reveals that BLBD has a market capitalization of $1.76 billion and is trading at a price-to-earnings (P/E) ratio of 17.97, suggesting a moderate valuation relative to earnings. The company has also experienced significant revenue growth of 19.53% over the last twelve months as of Q3 2024, highlighting its expanding operations. Moreover, BLBD has demonstrated a high return over the last year, with a 180.26% price total return, reflecting strong investor confidence and market performance.
These metrics, particularly the revenue growth and high return over the past year, could offer insights into the engineering and technology solutions sector's current dynamism. As Amentum moves towards its NYSE debut, investors may look to companies like BLBD for comparative analysis. For additional insights and tips on BLBD, including 12 more InvestingPro Tips, investors can visit the dedicated page on InvestingPro.
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