UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K Commission File No. 001-35419 KAMAN CORPORATION (Exact name of registrant as specified in its charter) Connecticut 06-0613548 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1332 Blue Hills Avenue, Bloomfield, Connecticut 06002 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (860) 243-7100 Securities registered pursuant t ...

NEWS RELEASE February 22, 2024 KAMAN REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS Fourth Quarter 2023 Highlights: Information for the period ended December 31, 2022 has been revised from amounts reported in the prior year to correct errors related to the accounting for certain labor costs at one business in the Precision Products segment and the net realizable value on certain portions of the Company's inventory at another business in the Structures segment. These errors resulted in an understatement o ...

Conference Call Participants I would now like to hand the conference over to your speaker today, Jamie Ranno, Assistant Controller. Please go ahead. These items are described more fully in the company's latest filings with the Securities and Exchange Commission, including the company's second quarter 2023 results included on Form 10-Q and the current report on Form 8-K filed yesterday evening together with our earnings release. We also expect to discuss certain financial measures and information that are no ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ______ Commission File Number: 001-35419 KAMAN CORPORATION (Exact name of registrant as specified in its charter) Connecticut 06-0613548 (State or other jurisdic ...

Kaman Corporation (NYSE:KAMN) Q1 2023 Earnings Conference Call May 3, 2023 8:30 AM ET Conference Call Participants Operator Company Participants Rebecca F. Stath - VP and Controller Ian K. Walsh - President and CEO James G. Coogan - SVP and CFO Steve Barger - KeyBanc Capital Markets Lawrence Solow - CJS Securities Seth Seifman - J.P. Morgan Operator Good day and thank you for standing by. Welcome to the Kaman's Corporation Q1 2023 Conference Call. At this time, all participants are in listen-only mode. Afte ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ______ Commission File Number: 001-35419 KAMAN CORPORATION (Exact name of registrant as specified in its charter) Connecticut 06-0613548 (State or other jurisdi ...

Kaman Corporation (NYSE:KAMN) Q4 2022 Earnings Conference Call February 24, 2023 8:30 AM ET Rebecca Stath - VP and Controller Ian Walsh - Chairman, President and CEO Jamie Coogan - SVP, CFO and Treasurer Steve Barger - KeyBanc Capital Markets Larry Solow - CJS Securities Seth Seifman - JPMorgan Good day and thank you for standing by. Welcome to the Kaman Corporation Q4 2022 Conference Call. At this time, all participants are in listen-only mode. After the speakers' presentation, there will be a question-and ...

Backlog and Sales Performance - Kaman Corporation's total backlog at December 31, 2022, was $720.936 million, with approximately 70% expected to be completed in 2023[22]. - The Engineered Products segment accounted for $322.452 million of the total backlog, while the Precision Products and Structures segments contributed $134.903 million and $263.581 million, respectively[23]. - In 2022, consolidated net sales were primarily driven by the Commercial, Business, & General Aviation segment, which represented 35.3% of total sales, followed by Defense at 21.2% and Safe and Arm Devices at 18.3%[17]. - The company reported a significant increase in the Medical segment's contribution to net sales, rising to 13.7% in 2022 from 8.9% in 2020[17]. - Total unfulfilled performance obligations (backlog) increased by 2.9% to $720.9 million, driven by strong order intake in the Engineered Products segment[164]. - The company had an order backlog of $720.9 million as of December 31, 2022, but there is no assurance that all expected sales from this backlog will be realized[125]. - Net sales for 2022 reached $377,241,000, an increase of $59,558,000 or 18.7% compared to 2021[199]. Financial Performance and Challenges - The company incurred an operating loss of $66.3 million in 2022, primarily due to a $25.3 million goodwill impairment charge and a $53.7 million inventory write-off[161]. - Cash flows from operating activities decreased by $27.7 million to $21.0 million in 2022, largely due to the timing of payments on the Joint Programmable Fuze (JPF) program[164]. - The company experienced some shortages in raw materials due to supply chain pressures but does not foresee any near-term unavailability that would materially affect operations[18]. - The company is facing unique risks related to long-term contracts with the U.S. Government, which could lead to modifications or terminations that adversely affect financial performance[87]. - Inflation has significantly increased in 2022, impacting operational costs and potentially affecting margin profitability if price increases cannot be passed on to customers[91]. - The company is experiencing substantial pressure from original equipment manufacturers (OEMs) to reduce prices, which could adversely affect financial condition if not managed effectively[92]. - The company incurred $9.1 million in program contract costs impairment related to the K-MAX TITAN unmanned aerial system in 2022[186]. Workforce and Employee Engagement - As of December 31, 2022, Kaman Corporation employed 3,063 individuals, with 73% based in the United States[34]. - In 2022, over 10,000 webinar courses were completed by employees, up from 7,000 in 2021, covering compliance, wellness, and leadership topics[41]. - The Company offers a Paid Parental Leave of Absence, providing eligible employees with three weeks of parental leave at 100% of base pay[50]. - The Company executed an All-Employee Engagement Survey in 2021 to measure and improve engagement and satisfaction, focusing on Training and Development, Inclusive Culture, and Communication[44]. - The company must attract and retain skilled personnel to succeed, facing competition for talent and potential labor shortages[133]. Corporate Governance and Diversity - The Company has shifted its Board composition to include 50% women and 29% racially or ethnically diverse members, compared to 22% women and no diversity in 2020[63]. - As of December 31, 2022, 73% of the Company's management positions were held by men and 27% by women, compared to the overall U.S. population of 68% males and 32% females[42]. Research and Development - The Precision Products segment is focused on developing the KARGO UAV unmanned aerial system, enhancing the company's capabilities in autonomous logistics[12]. - The company invests in research and development to advance technologies and products, but delays in development could lead to increased costs and missed market opportunities[132]. Debt and Financial Obligations - The company had $562.5 million in long-term debt outstanding as of December 31, 2022, excluding debt issuance costs[77]. - The secured revolving credit facility had a remaining borrowing capacity of $211.1 million as of December 31, 2022[77]. - The company's Consolidated Total Net Leverage Ratio was 3.65, compared to the maximum permitted ratio of 5.00 to 1.00[75]. Legal and Regulatory Risks - The company is involved in ongoing legal proceedings, but believes that any potential settlements will not materially affect its financial condition[149]. - The company is subject to audits of costs incurred on U.S. Government contracts, with potential financial repercussions if costs are found to be improperly allocated[87]. - The company faces risks related to compliance with complex international laws, including the U.S. Foreign Corrupt Practices Act, which could lead to severe penalties[111]. Environmental, Social, and Governance (ESG) Considerations - The company has experienced increasing scrutiny regarding its environmental, social, and governance (ESG) practices, which may affect access to financing[110]. - The company is subject to environmental regulations and potential liabilities, but management does not expect these to have a material adverse effect on operations[151]. Strategic Initiatives and Restructuring - The company announced a restructuring plan leading to the permanent closure of its Orlando, Florida manufacturing facility by the end of 2024[81]. - A restructuring plan announced in December 2022 is expected to generate approximately $25 million in annualized run-rate cost savings through facility consolidations and workforce reductions[120]. - The company plans to consolidate the production of JPF fuzes to its Middletown facility, resulting in the closure of the Orlando facility in 2024[184]. Market and Economic Conditions - Future operating results may be impacted by changes in global economic and political conditions, including credit availability and inflation[122]. - Business disruptions, including IT attacks and pandemics, could adversely affect sales and financial condition[136]. - The financial performance of the company is significantly influenced by conditions in the aerospace and defense industries, which are subject to various global factors[83].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ______ Commission File Number: 001-35419 KAMAN CORPORATION (Exact name of registrant as specified in its charter) Connecticut 06-0613548 (State or other jur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 Commission File No. 001-35419 KAMAN CORPORATION (Exact name of registrant as specified in its charter) Connecticut 06-0613548 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1332 Blue Hills Avenue, Bloomfield, Connecticut 06002 (Address of princip ...