Latest news with #JasonArmstrong
Yahoo
22-05-2025
- Yahoo
Pantex completes first B61-13 nuclear bomb unit after B61-12 finale
Just four months after finalizing production on the B61-12, the Pantex Plant has completed the first production unit (FPU) of the B61-13 nuclear gravity bomb, the National Nuclear Security Administration (NNSA) announced this week. The milestone, achieved in partnership with PanTeXas Deterrence LLC, marks the latest advance in the United States' nuclear modernization efforts. "In this geopolitical environment, the Nuclear Security Enterprise performs work that saves the world every day,' said Jason Armstrong, manager of the NNSA's Pantex Field Office. 'Through meticulous planning, strong partnerships, and exceptional execution, Pantex and the rest of the enterprise continue to fulfill our mission of protecting America and its allies to help ensure global security.' The B61 nuclear bomb has been in service since 1968. Over the past decade, it underwent an extensive Life Extension Program (LEP) to replace aging components and extend its service life by at least 20 years. That effort culminated in the B61-12, the largest weapons modification ever executed by the Nuclear Security Enterprise (NSE). Now, the B61-13 builds on that groundwork with updated features and streamlined production processes. 'The FPU is just the start,' said Kelly Beierschmitt, president and general manager of Pantex. 'With every unit comes progress and an enhanced ability for the NSE to deliver if or when the need arises. We do this work to protect our nation, our families, and our communities.' According to Pantex Program Manager Taylor Massey, the B61-13 was developed using a phased approach, allowing engineers to move quickly from design to testing and assembly by leveraging the established design of the B61-12. 'Modernization programs typically follow a detailed product realization process,' Massey said. 'We tailored our approach to accelerate readiness, developing procedures, tooling and testers that allowed us to produce an FPU within a year.' Six NNSA sites contributed to the development and production of the B61-13: Sandia National Laboratories, Los Alamos National Laboratory, Kansas City National Security Campus, Y-12 National Security Complex, Savannah River Site, and Pantex. The program reached full authorization in March and is scheduled to enter full-scale production this summer, with completion targeted for fiscal year 2027. 'There are over 200 parts involved in a single unit of the B61-13,' said Mickey Brown, B61 technical lead at Pantex. 'Almost all of those parts are produced by external partners within the NSE, then shipped to us for final assembly.' Massey added that the team's ability to meet aggressive timelines underscores Pantex's capacity for agility and performance. 'Following NNSA guidance to be more agile and flexible has shown we can meet designated production targets,' he said. 'That flexibility extends across everything from engineering and safety evaluations to the technicians on the floor meeting demanding schedules.' This achievement, Massey said, demonstrates that Pantex remains at the forefront of the nation's nuclear production efforts, driven by a skilled and collaborative workforce dedicated to national defense. This article originally appeared on Amarillo Globe-News: Pantex finishes first B61-13 nuclear gravity bomb, begins new production phase
Business Wire
30-04-2025
- Business
- Business Wire
Comcast to Participate in MoffettNathanson Investor Conference
PHILADELPHIA--(BUSINESS WIRE)--Comcast Corporation (Nasdaq: CMCSA) announced that on Thursday, May 15, 2025, Jason Armstrong, Chief Financial Officer of Comcast Corporation, will participate in the MoffettNathanson Media, Internet and Communications Conference. A live webcast of the event will be available on the Company's Investor Relations website at on Thursday, May 15, 2025, at 8:50 A.M. Eastern Time. An on-demand replay will be available shortly after the conclusion of the presentation. To automatically receive Comcast financial news by email, please visit our Investor Relations website and subscribe to Email Alerts. About Comcast Corporation Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit for more information.
Yahoo
31-01-2025
- Business
- Yahoo
Comcast Corp (CMCSA) Q4 2024 Earnings Call Highlights: Record Revenue and Strategic Shifts ...
Revenue: Record revenue of $124 billion for 2024. Adjusted EBITDA: Record adjusted EBITDA of $38 billion in 2024. Adjusted EPS: Increased by 9% for the year. Free Cash Flow: Generated $12.5 billion for the year. Broadband Revenue: Grew 3% for the year. Convergence Revenue: Grew nearly 5% for the year. Wireless Revenue: Grew at a mid-teens rate, with 1.2 million new lines added. Business Services Revenue: Grew at mid-single digit rates, approaching $10 billion in revenue. Peacock EBITDA Losses: Improved by $1 billion. Net Broadband Subscriber Additions: Negative 139,000 in the fourth quarter. Adjusted EPS (Q4): Increased 14% to $0.96. Free Cash Flow (Q4): $3.3 billion. Capital Returned to Shareholders: $13.5 billion for the full year. Net Leverage: Ended the year at 2.3x. Warning! GuruFocus has detected 3 Warning Sign with CMCSA. Release Date: January 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Comcast Corp (NASDAQ:CMCSA) achieved record revenue of $124 billion and record adjusted EBITDA of $38 billion in 2024. The company reported a 9% growth in Adjusted EPS and generated substantial free cash flow of $12.5 billion. Wireless revenue grew at a mid-teens rate, adding 1.2 million lines, reaching 12% penetration of the broadband customer base. Peacock achieved a $1 billion improvement in EBITDA losses, with strong revenue growth of 46% for the full year. Comcast Business is nearly $10 billion in revenue, with plans to acquire Nitel to enhance capabilities in serving multisite enterprise and midmarket businesses. Net broadband subscriber additions were negative 139,000 in the fourth quarter, indicating intense competition. The company faces challenges from fixed wireless expansion and the end of the ACP program. Increased competition from fiber operators and fixed wireless is expected to continue, impacting broadband growth. The company anticipates significant costs leading up to the opening of Epic Universe, impacting short-term financials. Peacock's NBA content addition may initially increase costs, requiring strategic adjustments to absorb expenses. Q: Can you elaborate on your wireless strategy and the expected impact on net additions and investments? A: Mike Cavanagh, President, explained that Comcast is pushing harder into wireless, aiming to simplify bundles and attach mobile services to more broadband products. This strategy shift is expected to drive net additions and requires investment, as noted by Jason Armstrong, CFO. Brian L. Roberts, CEO, added that the industry dynamics, with fewer competitors, create a favorable environment for Comcast as a new entrant. Q: What are the expectations for broadband ARPU growth, and how will it be affected by the new strategy? A: David Watson, CEO of Comcast Cable, stated that they expect continued healthy ARPU growth, focusing on broadband and convergence revenue. While the inclusion of mobile in packages might impact ARPU, the overall strategy aims to drive long-term revenue growth. Jason Armstrong added that broadband revenue grew by 3% and convergence revenue by 5% last year, and they aim to maintain this trajectory. Q: Could you provide an update on the SpinCo strategy and its focus areas? A: Mike Cavanagh explained that SpinCo will focus on genre-based entertainment, sports, and news, with a strong leadership team. The strategy will be developed further, but the aim is to leverage the strong cash flow and market positions of these assets. Brian L. Roberts emphasized that SpinCo will have a strong balance sheet, allowing flexibility in strategic decisions. Q: How is Comcast addressing competition in the broadband market, particularly with Project Genesis? A: David Watson noted that Project Genesis is on track, with 50% of the network upgraded. The focus is on introducing simplified packaging and faster speeds, which will be marketed aggressively starting in the second quarter. The competitive landscape remains intense, with fiber and fixed wireless as primary competitors. Q: What is the outlook for free cash flow in 2025, considering various factors like cash taxes and Capex? A: Jason Armstrong highlighted that Comcast expects a tailwind from cash taxes in 2025, roughly a couple of billion dollars. Working capital headwinds are expected to be similar to previous years, driven by growth businesses. Capex intensity is expected to remain around 10%, with relief from Epic Universe construction costs over the course of the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
