Kratos Defense Shares Rise on Largest Contract Win in Company History

Dow Jones01-06 23:56

By Sabela Ojea

Shares of Kratos Defense & Security Solutions on Monday rose after the company received a five-year $1.45 billion contract from the U.S. Defense Department, the largest award in the company's history.

The stock was up 6.6% to $29.28 in morning trading. Shares have surged 58% over the past 12 months.

The San Diego-based company said the contract is for the Multi-Service Advanced Capability Hypersonic Test Bed 2.0, established by the Office of the Under Secretary of Defense for Research and Engineering Test Resource Management Center.

The MACH-TB 2.0 program will provide an affordable bridge between hypersonic ground tests and system level flight tests, the company said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

January 06, 2025 10:56 ET (15:56 GMT)

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