Stock Track | Kratos Defense Shares Plunge After Mixed Q3 Results, Lower Q4 Revenue Outlook

Stock Track11-08 11:04

Shares of Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS) plunged over 5% in after-hours trading on Wednesday, November 7th, 2024, despite the company reporting better-than-expected earnings for the third quarter of 2024. The stock's decline was likely driven by a slight revenue miss and a lower-than-anticipated revenue outlook for the fourth quarter.

For the third quarter, Kratos posted revenue of $275.9 million, narrowly missing the analyst consensus estimate of $277.2 million. The company's revenue growth was impacted by a decline of approximately $24.2 million in its space and satellite business segment due to delays from original equipment manufacturers (OEMs) in the manufacture and delivery of software-defined satellites.

While Kratos reported adjusted earnings per share of $0.11, beating the consensus estimate of $0.08, the company's fourth-quarter revenue guidance range of $270-$295 million appears to be lower than analysts' expectations. Additionally, the unmanned systems segment saw a year-over-year decline in operating income and adjusted EBITDA due to the mix of revenues and resources.

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(NASDAQ: KTOS) plunged over 5% in after-hours trading on Wednesday, November 7th, 2024, despite the company reporting better-than-expected earnings ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KTOS","symbol_name":"克瑞拓斯安全防卫","start_time":0,"source_url":"","article_id":"1175542813","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1175542813","pubTimestamp":1731035089,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Kratos Defense & Security Solutions Inc.  plunged over 5% in after-hours trading on Wednesday, November 7th, 2024, despite the company reporting better-than-expected earnings for the third quarter of 2024. 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