Movers and SHAKERS
Kratos Defense & Security (KTOS)
Reports 3Q21 Results; Current Operating Environment More Challenging
Kratos Defense & Security Solutions is a National Security technology provider with proprietary expertise in the area of unmanned aerial vehicles, electronics for missile defense systems, electronic warfare systems, satellite control and management systems and support services for emerging naval weapon systems. Commercial and state and local government revenues are about 25% of the total and comprise primarily of critical infrastructure monitoring and protection systems.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
3Q21 Results. Revenue of $200.6 million came in at the mid-point of the $195-$205 million guidance. Revenue fell from $202 million in 3Q20, due to a decline in legacy business and Training revenue. Adjusted EBITDA came in at $23.8 million versus $24.6 million a year ago. Adjusted EPS was $0.09, flat y-o-y. We had forecast revenue of $205 million, adjusted EBITDA of $19.0 million, breakeven GAAP EPS, and adjusted EPS of $0.07.
UAS, SSC Remain Strong. Unmanned Systems revenue jumped 14.6% to $61.3 million, reflecting recently won awards and increased production on existing contracts. Space, Satellite and Cyber segment revenues of $72.0 million experienced a 17.5% organic increase ...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.