Sunday, 3 March 2024
Trending

Investing

Kratos secures $877 million rocket services contract By Investing.com

Bed Bath & Beyond Tumbles as Baird Downgrades Following Recent Rally

© Reuters.

SAN DIEGO – Kratos Defense (NASDAQ:) & Security Solutions, Inc. (NASDAQ: KTOS), a company specializing in defense and national security technology, has been awarded a significant contract for its Space & Missile Defense Systems unit. The deal, which could reach a maximum value of $877 million, was announced today and will support the Sounding Rocket Program-4 with suborbital launch services.

The indefinite-delivery/indefinite-quantity contract spans nine years and includes cost-plus-incentive-fee, cost-plus-fixed-fee, and firm-fixed-price arrangements. It will facilitate the Rocket Systems Launch Program’s suborbital missions, with work to be performed at various contractor facilities and government launch sites tailored to each mission’s needs. The contract is expected to conclude by November 15, 2029.

Kratos Space & Missile Defense Systems, known for their affordable rocket launch systems, competed for and secured this contract against two other offers. The Space Systems Command at Kirtland Air Force Base in New Mexico is overseeing the contract activities.

This development reinforces Kratos’ position in the industry as a provider of ballistic missile target, missile defense, hypersonic, and other specialized launch services. The company emphasizes affordability and rapid development in its approach to technology, aiming to deliver cost-effective solutions to its customers.

The information for this article is based on a press release statement from Kratos Defense & Security Solutions, Inc.

InvestingPro Insights

As Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) secures a pivotal contract that could potentially bolster its market standing, investors are closely monitoring the company’s financial health and growth prospects. The recent contract win aligns with the company’s strategic emphasis on affordability and rapid development, which may contribute to its financial performance in the upcoming periods.

According to InvestingPro data, Kratos has a market capitalization of approximately $2.38 billion, reflecting investor confidence in its market position. The company’s revenue growth has been notable, with a 17.66% increase over the last twelve months as of Q3 2023. This growth trajectory is further underscored by a quarterly revenue increase of 20.12% in Q3 2023, indicating continued business expansion.

Despite not being profitable over the last twelve months, Kratos is expected to turn a profit this year, as per…

Click Here to Read the Full Original Article at All News…