Stock Track | Kratos Defense Soars on Stellar Q3 Earnings and Bullish Outlook

Stock Track11-08 23:58

Shares of Kratos Defense & Security Solutions (NASDAQ: KTOS) surged over 5% on Thursday, following the company's impressive third-quarter earnings report and bullish guidance for the remainder of 2024 and 2025.

The defense contractor reported Q3 revenue of $275.9 million, within its previously guided range, and adjusted EBITDA of $24.6 million, exceeding expectations. Kratos highlighted robust growth in its unmanned systems segment, which saw organic revenue increase by 8.7% year-over-year.

CEO Eric DeMarco expressed optimism about the company's trajectory, stating, "Kratos achieved or exceeded objectives in nearly all business units, except for the commercial satellite segment." He affirmed the company's 2024 financial guidance and projected a 10% year-over-year revenue growth in 2025, driven by strong demand for air defense systems, solid rocket motor launches, and engines and propulsion systems.

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