Group 1 - Kongsberg Gruppen, a Norwegian defense company, has secured a significant order worth 16 billion crowns (approximately $1.67 billion) from Poland for drone defense systems [1]

VANCOUVER, BC / ACCESS Newswire / January 21, 2026 / FutureGen Industries Corp. (formerly Right Season Investments Corp.) (TSXV:LITT) ("FutureGen Industries" or the "Company") is providing an update to its shareholders regarding the Company's expanded investment mandate focused on innovation-driven, high-growth technology sectors. The Company reports that, further to its press release dated June 19, 2025, it intends to advance its strategy by pursuing investment exposure through investments in companies ope ...

Core Insights - Voyager Technologies, Inc. (NYSE:VOYG) is involved in developing defense systems, intelligence solutions, and advanced communication technologies, alongside space propulsion and mission management products [1] Group 1: Investment Sentiment - Jim Cramer expressed skepticism about investing in VOYG, citing its significant financial losses as a reason for not recommending the stock [1] - Cramer indicated a shift in his investment strategy, stating he would not invest in speculative stocks unless they are profitable [1] Group 2: Market Position and Comparisons - Despite acknowledging the potential of VOYG, the article suggests that certain AI stocks may offer better upside potential and lower downside risk [1]

Financial Highlights - Elbit Systems' market capitalization is approximately $24 billion[7] - The company's order backlog reached $252 billion as of September 30, 2025[7] - Revenues for the Last Twelve Months (LTM) Q3 2025 were $77 billion, compared to $65 billion in LTM Q3 2024[7] - Non-GAAP diluted net earnings per share (EPS) for Q3 2025 was $335, a 52% increase from $221 in Q3 2024[24] - Free cash flow in Q3 2025 was a positive $96 million, a significant increase of $100 million compared to $5 million in Q3 2024[24] - The company distributed $89 million in dividends to shareholders in 2024[48] Revenue Breakdown (LTM 2025) - Europe accounted for 27% of revenues[29] - Asia-Pacific (APAC) contributed 15% to revenues[29] - North America represented 21% of revenues[30] - Israel accounted for 33% of revenues[30] Growth and Backlog - The company experienced a backlog Compound Annual Growth Rate (CAGR) of 18% and a revenue CAGR of 11% from 2020 to 2025[33] - The order backlog increased from $2261 billion in 2024 to $2521 billion in LTM Q3 2025[33] Capital Allocation - Elbit Systems invested $466 million in Research and Development (R&D) in 2024[45] - Capital expenditures (CAPEX) amounted to $215 million in 2024[46]

Core Insights - Leidos Holdings, Inc. (LDOS) reported third-quarter 2025 adjusted earnings of $3.05 per share, exceeding the Zacks Consensus Estimate of $2.61 by 16.9% and improving 4.1% from $2.93 in the prior-year quarter [1] - Total revenues reached $4.47 billion, surpassing the Zacks Consensus Estimate of $4.27 billion by 4.8% and reflecting a year-over-year growth of 6.7% driven by increased demand across all customer segments, particularly in Defense Systems [2] - The company’s total backlog increased to $47.66 billion from $45.51 billion at the end of the first quarter of 2025, with $9.06 billion of this amount being funded [3] Financial Performance - The cost of revenues rose 6.4% year over year to $3.65 billion, while adjusted operating income improved to $535 million from $516 million in the year-ago quarter [4] - Interest expenses increased to $51 million from $46 million in the previous year [4] - Cash and cash equivalents totaled $974 million as of October 3, 2025, compared to $849 million as of January 3, 2025, while long-term debt rose to $4.63 billion from $4.05 billion [9] Segment Performance - National Security and Digital segment revenues increased 8% year over year to $2.02 billion, with adjusted operating income rising to $191 million [5] - Health & Civil segment revenues reached $1.30 billion, up 6.2% year over year, with adjusted operating income totaling $328 million [6] - Commercial & International segment revenues decreased by 1.2% to $571 million, while Defense Systems segment revenues increased by 11.5% to $582 million [7][8] Guidance - Leidos has raised its 2025 adjusted earnings guidance to a range of $11.45-$11.75 per share, up from the previous projection of $10.15-$10.45, with the Zacks Consensus Estimate for earnings at $11.41 per share [10] - The revenue outlook for 2025 remains steady at $17.00-$17.25 billion, with the Zacks Consensus Estimate for revenues at $17.15 billion [11]

Leidos Q3 FY25 Earnings Conference Call NOVEMBER 4, 2025 FORWARD-LOOKING STATEMENTS Certain statements in this release contain or are based on "forward- looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as "expects," "intends," "plans," "anticipates," "believes," "estimates," "guidance" and similar words or phrases. Forward-looking statements in this release include, among others, estimate ...

Core Insights - Baron Discovery Fund's performance in Q3 2025 showed a year-to-date increase of 10.75%, underperforming the Russell 2000 Growth Index which returned 11.65% [1] - The fund's Q3 return was 2.85%, significantly lagging behind the Index's 12.19% return [1] Company Highlights - Karman Holdings Inc. (NYSE:KRMN) is recognized for its role in designing, testing, manufacturing, and selling mission-critical defense systems [2] - The stock of Karman Holdings Inc. experienced a one-month return of 16.86% and a three-month gain of 65.94%, closing at $85.79 with a market capitalization of $11.352 billion on October 29, 2025 [2] - The company benefits from increased defense spending, particularly in flagship defense programs and emerging segments like hypersonics, positioning itself as a critical supplier in the defense industry [3] - Karman Holdings Inc. boasts margins more than double the industry average due to its focus on technically complex systems for prime contractors [3] Investment Sentiment - Karman Holdings Inc. was held by 21 hedge fund portfolios at the end of Q2 2025, a decrease from 32 in the previous quarter [4] - While Karman Holdings Inc. is viewed as a potential investment, the company is compared unfavorably to certain AI stocks that are believed to offer greater upside potential and lower downside risk [4]

Core Insights - Saab AB reported an earnings per share (EPS) of $0.18, missing the estimated $0.20, with actual revenue of approximately $1.68 billion compared to the expected $2.57 billion [1][6] - Despite the earnings miss, the company raised its full-year sales guidance due to strong demand in the defense sector and a record-high order backlog [3][4][6] - Financial metrics indicate a price-to-earnings (P/E) ratio of 54.81, reflecting investor confidence despite the earnings shortfall [5][6] Financial Performance - The third-quarter operating profit increased by 16%, driven by heightened military spending, although it was slightly below expectations [4] - The company has a low debt-to-equity ratio of 0.25, indicating manageable debt levels, and a current ratio of 1.30, suggesting good short-term liquidity [5] Market Position - Saab's strong order backlog and the global emphasis on enhancing military capabilities position the company favorably in the defense market [3]

Financial Data and Key Metrics Changes - Revenues for the quarter were $3.6 billion, up 5% or $175 million from the same quarter last year [3] - Segment profit increased to $357 million, up 26% or $73 million from 2024 [3] - Adjusted income from continuing operations was $1.55 per share, compared to $1.40 per share in the same quarter last year [3] - Manufacturing cash flow before pension contributions totaled $281 million, compared to $147 million in the same quarter last year [3] Business Line Data and Key Metrics Changes - Textron Aviation revenues were $1.5 billion, up 10% or $138 million from 2024, driven by higher aircraft revenues and aftermarket parts [14] - Bell revenues were $1 billion, up 10% or $97 million from 2024, primarily due to higher military revenues from the MV75 program [15] - Textron Systems revenues were $307 million, up 2% or $6 million from last year, with an increase in backlog of about $1 billion [11][15] - Industrial revenues decreased to $761 million, down $79 million from last year, primarily due to the divestiture of the powersports business [16] Market Data and Key Metrics Changes - Aviation backlog ended the quarter at $7.7 billion, reflecting strong demand [8][14] - Bell's backlog increased to $8.2 billion, up $1.3 billion from the prior quarter [15] - Textron Systems backlog ended at $3.2 billion, an increase of $980 million from the prior quarter [16] Company Strategy and Development Direction - The company announced the elimination of the Textron Aviation segment as a separate reporting segment, realigning business activities to leverage existing sales capabilities [12] - A new President and CEO, Lisa Atherton, was elected, indicating a focus on internal leadership development [4][5] - The company continues to focus on strong growth in aerospace and defense businesses, with significant investments in new aircraft and technology [7][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand across the aviation portfolio, with expectations for continued growth in aftermarket revenues [23][25] - The company anticipates a strong fourth quarter driven by increased volume and improved margins [65] - Management noted ongoing supply chain improvements, although some critical issues remain [55] Other Important Information - The company repurchased approximately 2.6 million shares, returning $206 million in cash to shareholders during the quarter [19] - Full-year adjusted earnings per share guidance is reiterated to be in the range of $6 to $6.2 [19] Q&A Session Summary Question: Impact of Army's announcement on MV75 program - Management indicated that the announcement would not change the near-term strategy, focusing on the basic aircraft's critical parameters [21][22] Question: Highlights on aviation demand - Management noted strong retail demand across the entire aviation portfolio, with improving margins and significant certification activity [23][24] Question: Update on MV75 program and contract signing - Management clarified that the program is largely cost-plus, with low risk in bringing forward LRIP units [28][30] Question: Long-term margin targets for aviation - Management stated that volume is the biggest lever for improving margins, with solid pricing feedback observed [40] Question: Supply chain issues and revenue forecast - Management acknowledged ongoing supply chain challenges but expressed confidence in achieving the revenue forecast [55][56] Question: Unmanned portfolio performance - Management reported strong demand for unmanned systems and ongoing development of new platforms [71][74] Question: Portfolio reevaluation with management change - Management confirmed that the company continuously evaluates its portfolio for potential acquisitions or disposals [80][81] Question: Demand shifts across business jets - Management indicated that current demand is stable, with capacity constraints affecting delivery mix [84][86]

Financial Data and Key Metrics Changes - Adjusted sales for Q3 were $22.5 billion, up 12% on an adjusted basis and 13% organically year over year [14] - Adjusted segment operating profit increased to $2.8 billion, up 19% year over year, with a consolidated segment margin expansion of 70 basis points [14] - Free cash flow was robust at $4 billion for the quarter, contributing to a full-year outlook of $7 billion to $7.5 billion [15][18] Business Line Data and Key Metrics Changes - Collins sales were $7.6 billion, up 8% adjusted and 11% organically, driven by commercial OE sales up 16% and aftermarket sales up 13% [20] - Pratt's sales reached $8.4 billion, up 16% on both an adjusted and organic basis, with commercial OE sales up 5% and military engine sales up 15% [22][24] - Raytheon reported sales of $7 billion, up 10% on both an adjusted and organic basis, with adjusted operating profit of $859 million, up $198 million year over year [24][25] Market Data and Key Metrics Changes - The book-to-bill ratio for the quarter was 1.63, resulting in a backlog of $251 billion, up 13% year over year [7][28] - New awards in the quarter totaled $37 billion, with $23 billion in defense and $14 billion in commercial orders [7] Company Strategy and Development Direction - The company is focused on executing commitments and driving performance improvements through its core operating system, achieving 10% organic sales growth while keeping headcount flat [8] - Strategic investments include over $600 million in capacity expansion projects, with Raytheon investing $300 million to support growing demand [10] - The company is innovating for future growth, including a hybrid-electric propulsion demonstrator for regional aircraft and next-generation braking systems for the A321XLR [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strength of global demand for products and services, particularly in commercial aerospace, with passenger air travel expected to grow approximately 5% this year [4] - The full-year adjusted sales outlook has been raised to a range of $86.5 billion to $87 billion, reflecting strong operational performance and market demand [16] - Management anticipates continued top-line growth, margin expansion, and solid free cash flow conversion beyond this year [19] Other Important Information - The company completed the sale of its actuation business and the Collins Simmons Precision Products business for $765 million [15] - The company is strategically using data analytics and AI tools to improve productivity and decision-making across its operations [12] Q&A Session Summary Question: Confidence in delivering LEAP engines to Airbus - Management expressed strong confidence in meeting delivery targets for LEAP engines, citing robust production ramp-up and collaboration with Airbus [32][38] Question: Limitations to growth in Raytheon segment - Management highlighted strong demand and a book-to-bill ratio of 2.27, but emphasized the need for a healthy supply chain to meet production increases [44][45] Question: Margins in Collins - Management noted that tariffs were a significant headwind affecting margins, with efforts underway to mitigate these impacts [85] Question: Top line and bottom line dynamics in Pratt - Management clarified that the uptick in revenue outlook for Pratt was driven by a mix of spare engines and increased defense contracts, with expectations for continued MRO output growth [90] Question: GTF compensation payments and AOG levels - Management confirmed that the financial outlook for GTF compensation payments remains consistent, with no changes to the expected timing for reduced AOG levels [80] Question: Future margin expectations for Raytheon - Management indicated that while current margins are strong, further upside is contingent on supply chain health and production ramp-up capabilities [114]