Kratos Expands Oklahoma City Facility by 100K Sq Ft to Boost Jet Drone Production
KTOS sits 33% above its 52-week low of $41.87.
Summary
Kratos is expanding its Oklahoma City manufacturing facility by over 100,000 square feet to accelerate production of its Valkyrie, Firejet, and other jet drone systems. This expansion is driven by increasing customer demand, including for the Valkyrie collaborative combat aircraft selected by the U.S. Marine Corps. This follows a June announcement of expanded Spartan turbojet engine production, indicating a broader strategy to meet growing defense sector demand. The investment will significantly increase Kratos's capacity beyond its current 165 jet drones annually, positioning the company for future revenue growth from U.S. and allied customers.
At the time of this announcement, KTOS was trading at $55.51 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $10.4B. The 52-week trading range was $41.87 to $134.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.