Why Aerojet Rocketdyne Stock Dropped 13% Friday

Shares of rocket-engine maker Aerojet Rocketdyne (NYSE: AJRD) tumbled 13% in Friday trading after Aerojet reported its earnings for the third quarter. The company booked $484.1 million in sales, short of the $488.4 million that Wall Street had anticipated. Profits came in at $0.17 per share, two cents below Wall Street's forecast.

Aerojet Rocketdyne stock blew up today -- in a bad way. Image source: Getty Images.

And yet, the news wasn't all bad. Aerojet's sales may have missed Wall Street estimates, but they were still up 4% over last year's Q3. Profits of $0.17 per share may have come up short as well, but they were a whole lot better than the $0.17 per share that Aerojet lost in Q3 2016.

Source: Fool.com