KTOS - Why Kratos Defense & Security Stock Is Gaining Altitude Today
2024-05-08 15:26:05 ET
Kratos Defense & Security Solutions (NASDAQ: KTOS) delivered better-than-expected results in the first quarter and provided positive updates about some of its most important drone programs. Investors are climbing on board, sending Kratos shares up 5% as of 2:30 p.m. ET on Wednesday.
Kratos is a defense contractor focused on electronics and unmanned aerial vehicles (UAVs). The company earned $0.11 per share in the quarter on sales of $277.2 million, easily surpassing Wall Street's outlook for $0.05 per share on sales of $250 million estimate.
The company showed strength across the board, but its UAV division is likely getting most of the attention. That unit ended the quarter with a book-to-bill ratio of 1.4, meaning it has a lot more orders on the horizon relative to what it has billed so far.
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Why Kratos Defense & Security Stock Is Gaining Altitude Today