Why Shares of Kratos Defense & Security Fell in February
Shares of Kratos Defense & Security Solutions (NASDAQ: KTOS) fell 11.3% in February, according to data provided by S&P Global Market Intelligence, after the company reported quarterly results that came in below expectations and provided tepid 2020 guidance. Kratos is among the biggest risk/reward stocks in the otherwise staid defense sector, and reinforced that reputation with its latest results.
On Feb. 24, Kratos reported fourth-quarter earnings of $0.09 per share on revenue of $185.1 million, falling short of analyst expectations for $0.10 per share in earnings on sales of $197.34 million. The company blamed the shortfall on unexpected delays to contract start times and other short-term issues, but the guidance provided additional reason for worry.
Kratos' Valkyrie on a test flight. Image source: Air Force Photo by 2nd Lt Randolph Abaya, 586 Flight Test Squadron.
Source Fool.com
