BLOOMFIELD, Ind., March 07, 2025 (GLOBE NEWSWIRE) -- The American Center for Manufacturing & Innovation (ACMI) and Prometheus Energetics (Prometheus), a U.S.-based merchant supplier of solid rocket motors (SRMs) established through a new corporation between Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) and RAFAEL Advanced Defense Systems Ltd., today announced an agreement to build a new energetics, SRM and munitions production facility in Bloomfield, Indiana. Prometheus' 550-acre headquarters and ...

SAN DIEGO, March 06, 2025 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, and industry-leading provider of high-performance, jet-powered unmanned aerial systems, announced today that Kratos has received $59,338,010 for an additional 70 BQM-177A Subsonic Aerial Target (SSAT) aircraft through the exercise of the contract option for Full Rate Production (FRP) Lot 6. When combined with the base award and exe ...

Kratos Defense & Security Solutions, Inc. (KTOS) recently delivered mixed fourth-quarter 2024 results. While the bottom line surpassed the Zacks Consensus Estimate, the top line missed the same. However, both metrics improved on a year-over-year basis. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The year-over-year improvement can be attributed to solid revenue growth from its Turbine Technologies, C5ISR, Defense Rocket Support and Microwave Products businesses, along with increa ...

Core Insights - Kratos Defense & Security Solutions, Inc. (KTOS) reported a fourth-quarter 2024 adjusted earnings of 13 cents per share, an increase of 8.3% from 12 cents in the prior-year quarter, and exceeded the Zacks Consensus Estimate by 44.4% [1][2] - The company achieved total revenues of $283.1 million in the fourth quarter, which was a 3.4% increase from $273.8 million in the previous year, although it fell short of the Zacks Consensus Estimate of $288 million by 1.8% [3] - For the full year 2024, total revenues reached $1.14 billion, up from $1.04 billion in 2023, aligning with the Zacks Consensus Estimate [4] Financial Performance - GAAP earnings for the fourth quarter were reported at three cents per share, compared to two cents in the fourth quarter of 2023 [2] - Selling, general and administrative expenses increased by 1.1% year over year, while research and development expenses surged by 32.5% [5] - Operating income for the fourth quarter was $3 million, a decline from $11.7 million in the same quarter last year [5] Segment Performance - Unmanned Systems segment net revenues improved by 10.3% year over year to $61.1 million [7] - Kratos Government Solutions segment net revenues increased by 1.6% to $222 million compared to the previous year [7] Operational Metrics - The consolidated book-to-bill ratio was reported at 1.5-1.0, with bookings totaling $434.2 million, and total backlog at the end of the fourth quarter was $1.45 billion, up from $1.29 billion at the end of the third quarter [6] Cash Flow and Debt - As of December 29, 2024, cash and cash equivalents totaled $329.3 million, a significant increase from $72.8 million as of December 31, 2023 [8] - Long-term debt decreased to $174.6 million from $219.3 million recorded at the end of 2023 [8] - Net cash flow from operating activities was $49.7 million in 2024, down from $65.2 million at the end of 2023 [8] Future Guidance - For the first quarter of 2025, KTOS projects revenues in the range of $285-$295 million, while the full-year 2025 revenue guidance is set between $1.26-$1.29 billion [9] - The Zacks Consensus Estimate for 2025 revenues is pegged at $1.28 billion, closely aligning with the company's mid-point guidance [9] - Operating cash flows for 2025 are expected to be between $50-$60 million, with free cash outflow projected at $75-$85 million [10]

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) Q4 2024 Earnings Conference Call February 26, 2025 5:00 PM ET Company Participants Marie Mendoza - SVP & General Counsel Eric DeMarco - President & CEO Deanna Lund - EVP & CFO Conference Call Participants Josh Sullivan - Benchmark Company Seth Seifman - JPMorgan Mike Crawford - B. Riley Securities Jan Engelbrecht - Baird Ken Herbert - RBC Capital Markets Michael Ciarmoli - Truist Securities Noah Poponak - Goldman Sachs Trevor Walsh - Citizens JMP Joshu ...

Group 1 - Kratos Defense & Security Solutions, Inc. held its Fourth Quarter 2024 Earnings Conference Call on February 26, 2025, at 5:00 PM ET [1][2] - The call featured key company participants including Eric DeMarco, President and CEO, and Deanna Lund, Executive Vice President and CFO [3] - The conference call was recorded and included a question and answer session following the presentation [2] Group 2 - The company emphasized the importance of considering uncertainties and risks associated with forward-looking statements made during the call [4]

Core Insights - Kratos (KTOS) reported revenue of $283.1 million for the quarter ended December 2024, reflecting a 3.4% increase year-over-year, with EPS at $0.13 compared to $0.12 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $288.31 million, resulting in a surprise of -1.81%, while the EPS exceeded expectations by 44.44% against a consensus estimate of $0.09 [1] Revenue Breakdown - Kratos Government Solutions generated $222 million in revenue, slightly below the average estimate of $223.42 million, marking a year-over-year increase of 1.7% [4] - Unmanned Systems revenue was reported at $61.10 million, lower than the estimated $66.54 million, but showed a 10.3% increase compared to the previous year [4] - Product sales reached $176.60 million, surpassing the average estimate of $170.05 million, with a year-over-year growth of 2.1% [4] - Service revenues totaled $106.50 million, below the estimated $117.06 million, but represented a 5.7% increase year-over-year [4] Profitability Metrics - Gross profit from service revenues was $29.40 million, compared to the average estimate of $31.72 million [4] - Gross profit from product sales was reported at $40.40 million, lower than the estimated $42.07 million [4] - Operating income for Unmanned Systems was -$0.70 million, significantly below the average estimate of $2.19 million [4] - Operating income for Kratos Government Solutions was $11 million, compared to the average estimate of $15.27 million [4] - Unallocated corporate expense, net, was -$7.30 million, worse than the average estimate of -$4.35 million [4] Stock Performance - Over the past month, Kratos shares have declined by 25%, contrasting with the Zacks S&P 500 composite's decrease of 2.3% [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential outperformance against the broader market in the near term [3]

Core Viewpoint - Kratos (KTOS) reported quarterly earnings of $0.13 per share, exceeding the Zacks Consensus Estimate of $0.09 per share, and showing an increase from $0.12 per share a year ago, indicating a 44.44% earnings surprise [1][2] Financial Performance - The company achieved revenues of $283.1 million for the quarter ended December 2024, which was 1.81% below the Zacks Consensus Estimate, but up from $273.8 million year-over-year [2] - Over the last four quarters, Kratos has surpassed consensus EPS estimates four times and topped revenue estimates twice [2] Stock Performance - Kratos shares have declined approximately 4.8% since the beginning of the year, contrasting with the S&P 500's gain of 1.3% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.13 on revenues of $303.53 million, and for the current fiscal year, it is $0.59 on revenues of $1.28 billion [7] - The trend of estimate revisions for Kratos has been favorable leading up to the earnings release [6] Industry Context - The Aerospace - Defense Equipment industry, to which Kratos belongs, is currently ranked in the top 29% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Core Viewpoint - Kratos Defense & Security Solutions, Inc. and RAFAEL Advanced Defense Systems Ltd. have formed a joint venture named Prometheus Energetics to establish a U.S.-based supplier of solid rocket motors and other energetics, with a capital commitment of up to $175 million [1][2][5] Company Overview - Kratos is a leader in advanced systems, including hypersonic technologies, ballistic missile targets, and solid rocket motors, serving the U.S. defense community for decades [4] - RAFAEL is a major Israeli defense contractor known for systems like the Iron Dome and TROPHY APS, with a focus on vertically integrated facilities for the development of solid rocket motors and warheads [3][6] Joint Venture Details - Prometheus Energetics will be headquartered on a 500-acre site in Crane, Indiana, and is projected to begin production of solid rocket motors in 2027 after technology transfer and certification [1][2] - The joint venture aims to strengthen the U.S. defense industrial base and provide tens of thousands of solid rocket motors and casted warheads to support U.S. national security and allies [5][8] Financial Implications - Kratos will account for approximately 50% of Prometheus' net income and free cash flow in its financial statements, reflecting the joint venture's impact on Kratos' overall financial performance [5]

Core Viewpoint - Kratos Defense & Security Solutions, Inc. and RAFAEL Advanced Defense Systems Ltd. have formed a joint venture named Prometheus Energetics to establish a U.S.-based supplier of solid rocket motors and other energetics, with a capital commitment of up to $175 million [1][2][5] Company Overview - Kratos is a leader in advanced systems, including hypersonic technologies, ballistic missile targets, and solid rocket motors, serving the U.S. defense community for decades [4] - RAFAEL is one of Israel's largest defense contractors, known for developing systems like the Iron Dome and TROPHY APS, with a focus on vertically integrated facilities for SRMs and warhead products [3][6] Joint Venture Details - Prometheus Energetics will be headquartered on a 500-acre site in Crane, Indiana, and is projected to begin production of solid rocket motors in 2027 after technology transfer and certification [1][2] - The joint venture aims to strengthen the U.S. defense industrial base and provide tens of thousands of solid rocket motors and casted warheads to support U.S. national security and allies [5][8] Financial Implications - Kratos will account for approximately 50% of Prometheus' net income and free cash flow in its financial statements, reflecting the joint venture's impact on Kratos' overall financial performance [5]