Kratos Defense (KTOS) Tops Q1 EPS by 4c

Kratos Defense (NASDAQ: KTOS) reported Q1 EPS of $0.05, $0.04 better than the analyst estimate of $0.01. Revenue for the quarter came in at $143 million versus the consensus estimate of $144.73 million.

Financial Guidance

Kratos is affirming its full year 2018 financial guidance for revenues, excluding the PSS business, of $640 to $650 million, compared to $603.3 million for the full year of 2017, and full year 2018 Adjusted EBITDA guidance of $55 to $59 million, compared to $47.6 million for full year 2017. Kratos is also affirming its full year 2018 financial guidance of positive cash flow generation from operations of $35 to $45 million, including the expected collection of net working capital proceeds of the PSS business retained by Kratos.

Kratos’ second quarter 2018 financial guidance for revenues excluding PSS is $140 to $150 million, as compared to $147.9 million for the second quarter of 2017, and second quarter 2018 Adjusted EBITDA guidance is $9.0 to $11.0 million, which reflects the anticipated product mix based on delivery and production schedules, as compared to $10.2 million for the second quarter of 2017.

Similar to 2017, as a result of the approximate six month U.S. Federal Budget Continuing Resolution Authorization which ended March 23, 2018, and the approval of the 2018 DoD Budget, Kratos is forecasting strong third and fourth quarters of fiscal 2018, and for the second half of its fiscal year financial performance to be substantially stronger than the first half of 2018.

For earnings history and earnings-related data on Kratos Defense (KTOS) click here.

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