Why Kratos Defense & Security Stock Just Dropped 20%
On another hard day for the markets, with the S&P 500 down 1.5% at one point, shares of defense contractor and drone maker Kratos Defense & Security Solutions (NASDAQ: KTOS) are falling harder than most and were down 20.5% as of 1 p.m. EST Tuesday.
Kratos reported Q4 earnings Monday night, and the news wasn't great. The $0.09 per share in pro forma profit that Kratos earned in Q4 was a penny shy of Wall Street estimates, and $185.1 million in quarterly sales missed expectations by more than $12 million.
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Source Fool.com