RYCEF - Rolls-Royce Holdings plc
| Previous close | 3.9800 |
| Open | 3.8500 |
| Bid | 0.0000 x 0 |
| Ask | 0.0000 x 0 |
| Day's range | 3.3630 - 3.8500 |
| 52-week range | 2.9000 - 11.6600 |
| Volume | 146,373 |
| Avg. volume | 57,074 |
| Market cap | 6.183B |
| Beta (5Y monthly) | 1.04 |
| PE ratio (TTM) | 2.39 |
| EPS (TTM) | 1.4840 |
| Earnings date | N/A |
| Forward dividend & yield | 0.15 (4.73%) |
| Ex-dividend date | 23 Apr 2020 |
| 1y target est | N/A |
- Financial Times
Rolls-Royce increases price-cuts pressure on suppliers
Rolls-Royce is threatening to withdraw “support” from suppliers who do not agree to price cuts of up to 15 per cent, heightening pressure on a supply chain facing a cash crunch as a result of the abrupt drop in demand amid the pandemic. The British aero-engine maker this month wrote to many of its 700 global aerospace suppliers to demand price cuts of between 5 and 15 per cent, even as it slashes orders to adjust to reduced demand. The letter came days before Rolls-Royce on Thursday announced plans to axe 9,000 jobs — shrinking its global workforce by 17 per cent and its civil aerospace business by a third.
- AFP
Rolls-Royce cuts 9,000 jobs as airlines turn off engines
Rolls-Royce, the British maker of plane engines, said Wednesday it will cut at least 9,000 jobs and slash costs elsewhere, as the coronavirus hammers the aviation sector. Unions said they expected most of the cuts to occur in the UK, while analysts said the knock-on effect for supply chains meant many more people working across the aerospace industry were set to lose their jobs. Rolls said it expected "the loss of at least 9,000 roles" from a global workforce of 52,000 and would also cut "expenditure across plant and property, capital and other indirect cost areas".
Reuters VideosRolls-Royce to cut 9,000 jobs amid air travel slump
Rolls-Royce will cut at least 9,000 jobs and could shut some of its factories. The jet-engine maker made the announcement Wednesday (May 20), and said the cuts were to cope with a severe decline in air travel. Aerospace engineering is the key part of Rolls-Royce business. It supplies engines to both Boeing and Airbus, and is paid by airlines based on how many hours they fly. Its earnings are thus certain to take a hit if air travel demand takes years to recover from the global health crisis. Rolls-Royce relies on aerospace for just over half its annual revenues. In 2019, that totalled around 15 billion pounds – or $18 billion. The company said the job cuts would mostly be in its civil aerospace unit, and could generate annual cost savings of around $1.6 billion. CEO Warren East indicated the majority of jobs cuts will be in the UK where most of its aerospace employees are based. In total, Rolls-Royce hires 52,000 people worldwide and stands to lose 17% of its workforce after Wednesday’s announcement.
- Investing.com
Morgan Stanley Sticks to Their Hold Rating for Rolls-Royce Holdings plc
Morgan Stanley (NYSE:MS) analyst Andrew Humphrey maintained a Hold rating on Rolls-Royce (OTC:RYCEY) Holdings plc on Sunday, setting a price target of £4.6, which is approximately 24.32% above the present share price of $3.7.
- Reuters
Rolls-Royce signals job cuts as lowers engine output forecast
A source close to Rolls-Royce, one Britain's best known industrial names and one of the world's main producers of jet engines for airliners, told Reuters last week that it was looking at cutting up to 15% of its 52,000 strong workforce. "We have promised to give our people further details of the impact of the current situation on the size of our workforce before the end of this month and will consult with affected employees in due course," Rolls-Royce said. Shares in Rolls-Royce, which said in a statement it had furloughed 4,000 staff in Britain, were down as much as 3.6% at 283 pence in early trading.
- Reuters
Rolls-Royce considering cutting up to 15% of its workforce - source
The company's engines power Airbus SE <AIR.PA> and Boeing Co's <BA.N> widebody jets and Rolls-Royce is paid by airlines based on how many hours its engines fly. The Financial Times earlier reported Rolls-Royce was preparing to lay off up to 8,000 of its 52,000-strong workforce. Last month, Rolls-Royce scrapped its targets and final dividend to shore up its finances to cope with the virus outbreak.
- Zacks
The Zacks Analyst Blog Highlights: Boeing, General Electric, Raytheon Technologies, Rolls-Royce and Safran
The Zacks Analyst Blog Highlights: Boeing, General Electric, Raytheon Technologies, Rolls-Royce and Safran
- Zacks
Coronavirus-Led Upheaval Puts 4 Jet Engine Makers in Trouble
To cope up with the economic impacts of coronavirus outbreak, airline companies are taking initiatives like delaying deliveries of new jets. In a ripple effect, jet engine makers are bearing the brunt.
- Reuters
Rolls-Royce to ditch targets and suspend dividend due to coronavirus - FT
Rolls-Royce is also aiming to announce new credit facilities in excess of 1 billion pounds ($1.22 billion) to bolster liquidity, the newspaper said https://on.ft.com/2ULsL7q. Rolls-Royce, which makes engines for large civil and military planes, has been hit hard by the pandemic as its airline customers park hundreds of planes. At the end of February, Rolls Royce had forecast 2020 free cash flow of 1 billion pounds, excluding any material impact from COVID-19.
- Zacks
Lockheed Martin (LMT) Wins Deal to Deliver 50 C-130J Parts
Lockheed Martin (LMT) is going to deliver 14 enhanced center wing boxes and 14 component kits in relation to the C-130J center wing box replacement program.
- Reuters
RPT-Coronavirus, politics and trade compound problems for Airbus A330neo
Airbus is battling to shore up support for its A330neo wide-body passenger jet as the coronavirus crisis, geopolitics and trade wars raise fresh questions over demand for the aircraft, industry sources said. The response has included Airbus focusing on A330neo sales ahead of other models, pressing for Chinese sales in expectation of the country's eventual economic recovery while also trying to tie orders to sales of its smaller A321XLR jets, which are in higher demand. Airbus shares fell 4% on Thursday after Bloomberg News reported that Airbus was considering production cuts, days after top buyer AirAsiaX said it wanted to defer orders.
- Reuters
Coronavirus, politics and trade compound problems for Airbus A330neo
Airbus is battling to shore up support for its A330neo wide-body passenger jet as the coronavirus crisis, geopolitics and trade wars raise fresh questions over demand for the aircraft, industry sources said. The response has included Airbus focusing on A330neo sales ahead of other models, pressing for Chinese sales in expectation of the country's eventual economic recovery while also trying to tie orders to sales of its smaller A321XLR jets, which are in higher demand. Airbus shares fell 4% on Thursday after Bloomberg News reported that Airbus was considering production cuts, days after top buyer AirAsiaX said it wanted to defer orders.
- Reuters SG
Competition heats up in turboprop market
Competition is cranking up in the world of turboprops. For years turboprops were an ignored corner of the aircraft industry, accounting for about 120 aircraft a year compared with the more than 1,000 jets made by giants Airbus and Boeing. While intercontinental jet travel is vulnerable to trade wars and disruptions such as epidemics, regional development in archipelago nations like Indonesia is favouring the turboprop.
- Reuters SG
CORRECTED-Rolls-Royce 'open-minded' on new Boeing mid-market jet study -exec
Rolls-Royce is "open-minded" on whether it will join Boeing in a fresh attempt at addressing the mid=size jet market after pulling out of an earlier effort over timing, a top company official said on Wednesday. Boeing is re-examining plans for a mid-market jet designed to carry 220-270 passengers after a crisis over the grounding of its smaller 737 MAX absorbed its attention in the past year, leaving the door open to rival Airbus to sell its A321XLR. The delay gives Rolls-Royce more time to develop its efficient new Ultrafan engine technology, for which it has started building parts for a demonstrator.
- Reuters
Rolls-Royce gives first look at one-seater electric plane
British engineering company Rolls-Royce gave a first look at a one-seater electric aircraft on Thursday it hopes will fly in late Spring next year and become the world's fastest all-electric aircraft. Aviation accounts for over 2% of global greenhouse gas emissions and passenger numbers are growing but zero-carbon, long-distance planes carrying hundreds of people are still decades away, aviation experts say. Rolls-Royce unveiled the electric plane, which it is building with partners YASA and Electroflight and others and which will target a speed of over 300 miles per hour, at a hangar in Gloucestershire, western England.
- Reuters
Rolls-Royce says ValueAct executive leaves board, shares fall
British engineering company Rolls-Royce <RR.L> said Bradley Singer, a representative of its largest shareholder the activist investor ValueAct Capital, has resigned from its board, weakening the stock. Rolls-Royce said on Tuesday that Singer, chief operating officer of ValueAct, left on December 9 after nearly four years as a non-executive director. ValueAct owns a 9.35% stake in Rolls-Royce according to Thomson Reuters data.
- Reuters
Rolls-Royce takes another £800 million hit to fix problem engine
The bill to fix Rolls-Royce's <RR.L> Trent 1000 engine has risen by another £800 million as the aerospace group battles to reduce disruption to airline customers that have had to ground Boeing 787 passenger planes for repairs. The British engineer said on Thursday its operating profit and cash flow this year would come in at the bottom of its guidance - both at about £600 million - as the cost of the Trent 1000's problems rose to £2.4 billion for 2017-2023. Chief Executive Warren East said Rolls would spend more on parts and replacement engines to reduce the time aircraft are grounded while turbine blades are replaced.
- Reuters
CORRECTED-UPDATE 3-Air Premia braces for long-haul battle with new Boeing 787s
HONG KONG/SEOUL, Oct 30 (Reuters) - South Korean carrier Air Premia announced on Wednesday a provisional deal to buy five Boeing 787-9 Dreamliner jets worth $1.4 billion at list prices, becoming the latest new airline to enter the highly competitive low-cost, long-haul market. The deal follows an agreement to lease three 787-9 jets from Air Lease Corp as Air Premia prepares to start flying in September 2020. It is one of several emerging players in South Korea's expanding but highly competitive low-cost market.
- Reuters
Westinghouse to buy Rolls-Royce's North American Civil Nuclear unit
Westinghouse, which supplies products and technological assistance to nuclear utilities, said the Rolls-Royce deal would boost its nuclear power plant services and digital offerings. Rolls-Royce did not immediately respond to a Reuters request for comment outside regular business hours. Rolls-Royce operates 11 sites in Canada, France, the United Kingdom and the United States, Westinghouse said in a statement.
- Reuters
Rolls-Royce CEO says company ready for a no-deal Brexit if needed
Britain's Rolls Royce <RR.L> said it was prepared to cope with the fallout from a disorderly Brexit after the aero-engine maker spent around 100 million pounds to increase inventory among other preparations, its chief executive said. "We've grown the amount of inventory that we have, inventory and other measures to deal with issues around Brexit, totalling around 100 million pounds at the moment," Warren East told BBC Radio.
- Reuters
Rolls-Royce expects cash flow rise in second half as engines are delivered
British engineer Rolls-Royce said a build-up of inventory such as the Trent 7000 engine that powers the Airbus A330neo would unwind in the second half and drive a "significant improvement" in cash flow. Chief Executive Warren East said Rolls was on track to meet its guidance of 700 million pounds ($854 million), give or take 100 million pounds, in cash flow this year, despite its outflow in the first half jumping to 429 million pounds. "We expect a significant improvement in cash in the second half as we unwind inventory built up to support customer deliveries and benefit from improved trading in both Power Systems and Civil Aerospace," he said on Tuesday.
- Reuters
Indian police open probe into Rolls-Royce's dealings with three state firms
Indian federal police have opened an investigation into Rolls-Royce Holdings Plc <RR.L>, alleging the UK-based engine maker and its Indian arm improperly used a third-party to conduct business with three Indian state-owned companies. In a report published on Tuesday, India's Central Bureau of Investigation (CBI) also said officials from the Indian companies - Hindustan Aeronautics Limited (HAL), ONGC <ONGC.NS> and GAIL <GAIL.NS> - may have been involved in improper procurement from Rolls-Royce. Rolls-Royce provided engine spare parts to HAL for servicing gas turbines used by GAIL and ONGC, both of which are involved in the oil and gas sector, the report said.
- Reuters
CBI opens probe into Rolls-Royce's dealings with three state firms
The Central Bureau of Investigation (CBI) has opened an investigation into Rolls-Royce Holdings Plc, alleging the UK-based engine maker and its Indian arm improperly used a third-party to conduct business with three Indian state-owned companies. In a report published on Tuesday, the CBI also said officials from the Indian companies - Hindustan Aeronautics Limited (HAL), ONGC and GAIL - may have been involved in improper procurement from Rolls-Royce. Rolls-Royce provided engine spare parts to HAL for servicing gas turbines used by GAIL and ONGC, both of which are involved in the oil and gas sector, the report said.
- Reuters
UPDATE 2-European stocks edge lower, Lufthansa drags after profit warning
European stock markets closed marginally lower on Monday with a profit warning from Germany's Lufthansa hitting airline stocks, while markets globally awaited clues from the U.S. Federal Reserve on its policy direction. The pan-European STOXX 600 index finished 0.1% lower.
- Reuters
Rolls-Royce, Spain's Indra confirm talks over ITP Aero stake
In a statement, Rolls-Royce, which makes engines for the Boeing 787 Dreamliner and the Airbus A350 XWB, said it had received a "preliminary and conditional" indication of interest in the holding. Indra confirmed it was in talks with the British company, but said there was no certainty they would lead to a binding agreement. The news hit Indra's shares, with analysts flagging that the Spanish company will need to find mechanisms to finance the deal.
