Mercury Systems, Inc. provided earnings guidance for the year 2024. For the full fiscal year 2024, revenues are forecasted to be in the range of $800.0 million to $850.0 million based on first half revenue performance coupled with reduced volumes expected in the second half. First half revenue performance, particularly in the second quarter, included significant revenue reductions due to program cost growth.

In addition, the company expects lower volumes in the second half as continue to apply operational capacity to advance challenged and late-stage development programs as well as reduce working capital especially related to unbilled receivables.