Kratos Defense Security Solutions Inc Reports Second Quarter 2024 Financial Results
Intellectia.AI Updated: 2024-08-08
Kratos Defense & Security Solutions, Inc. Reports Second Quarter 2024 Financial Results
Kratos Defense & Security Solutions, Inc. (KTOS) has reported its financial results for the second quarter ended June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | YoY Change | Consensus Estimates | QoQ Change |
|---|---|---|---|---|---|
| Total Revenue | $300.1M | $256.9M | +16.7% | $276.21M | +8.4% |
| Earnings Per Share (EPS) | $0.08 | $0.03 | +166.7% | $0.08 | +166.7% |
Kratos Defense & Security Solutions reported revenue of $300.1 million for Q2 2024, which is a 16.7% year-over-year increase and 8.4% quarter-over-quarter increase. The company's earnings per share (EPS) were reported at $0.08, aligning with Wall Street's consensus estimates and showing a significant year-over-year improvement of 166.7%.
Revenue Performance by Segment
| Segment | Q2 2024 Revenue | Q2 2023 Revenue | YoY Change |
|---|---|---|---|
| Kratos Government Solutions | $214.3M | $204.8M | +4.6% |
| Unmanned Systems | $85.8M | $52.1M | +64.7% |
Kratos’s Kratos Government Solutions (KGS) segment revenues increased by 4.6% year-over-year to $214.3 million, driven by growth in the C5ISR and microwave electronics businesses. The Unmanned Systems (US) segment achieved a significant year-over-year revenue increase of 64.7% to $85.8 million, boosted by both the STS acquisition and higher production volumes of unmanned aerial vehicles.
Comments from Company Officers
Kratos’ officers have not provided specific comments in the earnings release document.
Dividends or Share Repurchase Programs
There was no information on announced dividends or share repurchase programs provided in the earnings release.
Forward Guidance
No explicit forward guidance was provided by Kratos in the current earnings release.
Stock Price Movement
Following the earnings release, Kratos Defense & Security Solutions’ stock price saw a decline of approximately 1.42%.
In summary, Kratos Defense & Security Solutions has demonstrated solid financial performance in Q2 2024, with significant revenue growth, particularly in its Unmanned Systems segment, and EPS aligning with market expectations. The stock experienced a slight decline post-announcement, which may reflect broader market reactions or other external factors.
