Kratos Defense reports Q1 EPS 6c, consensus 5c

Reports Q1 revenue $231.8M, consensus $223M. For the first quarter of 2023, KGS reported a book-to-bill ratio of 0.9 to 1.0, a book to bill ratio of 1.1 to 1.0 for the last twelve months ended March 26, and bookings of $161.3M and $822.1M for the three and last twelve months ended March 26 respectively. KGS includes Kratos’ Space, Training and Cyber business, which reported a book to bill ratio of 1.2 to 1.0 for the first quarter of 2023 and a book to bill ratio of 1.3 to 1.0 for the last twelve months ended March 26. Bookings for Kratos’ Space, Training and Cyber business for the three months and last twelve months ended March 26, 2023 were $112.1M and $472.7M respectively. KGS’s total backlog at the end of the first quarter of 2023 was $888.3 million, as compared to $910.8M at the end of the fourth quarter of 2022.