GenCorp Inc. (GY) posted first-quarter net loss of $14.0 million, or $0.24 per share, compared with a profit of $2.4 million, or $0.04 per share, last year.
The company attributed the quarterly net loss to a $5.7 million rise in non-cash retirement benefit expense; and $5.5 million expenses incurred in the first quarter on the proposed acquisition of United Technologies Corporation's Pratt & Whitney Rocketdyne; a $5.2 million increase in interest expense primarily related to the financing of the proposed Rocketdyne Business acquisition; a $2.6 million growth in the income tax provision; and a $2.3 million rise in stock-based compensation. These factors were partially offset by higher sales generating additional operating profit.
However, net sales for the three-month period totaled $243.7 million, up compared with the prior-year figure of $201.9 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.