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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Cobham plc    COB   GB00B07KD360

COBHAM PLC

(COB)
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Real-time Quote. Real-time CHI-X - 07/22 04:21:12 am
120.05 GBp   +0.76%
07/11COBHAM : Director/PDMR Shareholding
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07/01COBHAM : Directorate Change
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06/28COBHAM : IFRS 16 (Leases) Prior Year Disclosure
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Cobham Settles Air-Force Tanker Dispute With Boeing, Takes GBP160 Million Charge

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02/19/2019 | 02:37am EDT

By Adam Clark

Cobham said Tuesday that it has reached a settlement with Boeing over the KC-46 aircraft-refueling tanker program, which will lead the London-listed engineering company to take a 160 million pounds ($206.7 million) charge in its 2018 results.

Cobham said it has agreed to pay Boeing GBP86 million to settle the U.S. company's damages claims over the U.S. Air Force program. The agreement resets the schedule for the wing aerial refueling pod-qualification program, which is now expected to complete around the middle of 2020.

Boeing has agreed to release payments that it was previously withholding against Cobham invoices. Cobham said it will offset the damages against invoices worth GBP37 million, meaning it will make a GBP49 million payment in the first half of 2019.

Cobham said the "stringent" terms of the original KC-46 remain in place. The company has therefore also taken a non-underlying charge of GBP74 million in relation to the retained contract risks and the costs of the revised schedule, in addition to the GBP40 million charge it took last July.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) 4.50% 377.36 Delayed Quote.17.01%
BOEING COMPANY (THE) 4.14% 376.59123 Delayed Quote.3.18%
COBHAM PLC 0.46% 119.7 Delayed Quote.21.93%
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Financials (GBP)
Sales 2019 1 944 M
EBIT 2019 218 M
Net income 2019 85,5 M
Debt 2019 57,4 M
Yield 2019 1,11%
P/E ratio 2019 34,7x
P/E ratio 2020 25,4x
EV / Sales2019 1,49x
EV / Sales2020 1,39x
Capitalization 2 838 M
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Technical analysis trends COBHAM PLC
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TrendsBullishNeutralNeutral
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 126,00  GBp
Last Close Price 119,15  GBp
Spread / Highest target 25,9%
Spread / Average Target 5,75%
Spread / Lowest Target -10,2%
EPS Revisions
Managers
NameTitle
David C. Lockwood Chief Executive Officer & Executive Director
Michael Peter Wareing Non-Executive Chairman
Chris Shaw Chief Operations Officer
David Anthony Mellors Chief Financial Officer & Executive Director
Alison J. Wood Independent Non-Executive Director
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