SpaceX Competitor Set For Take Off On Earnings Beat, 55% Sales Spike

Date:

SpaceX competitor Rocket Lab soared on its Q3 results late Tuesday, set to add to its 165% rally so far this year. AST SpaceMobile (ASTS), a satellite manufacturer and SpaceX partner, is scheduled to report late Thursday.





X



NOW PLAYING
How To Buy Stocks: Ways To Profit From Earnings Reports



Rocket Lab (RKLB) reported a loss of 10 cents per share, widening from a loss of 8 cents last year. Revenue increased 55% to $105 million.

FactSet expected a loss of 11 cents per share on 51% revenue growth to $102.3 million.

The company’s backlog rose to $1.05 billion, while analyst estimates were just shy of $1.1 billion.

Rocket Lab also noted that its Electron rocket is the third most-frequently launched rocket in the world in 2024, trailing only SpaceX and China.

Looking ahead, Rocket Lab expects Q4 revenue between $125 million and $135 million, ahead of FactSet estimates of $121 million.

Separately, the company also announced a new launch service agreement with a confidential commercial satellite constellation operator for its medium-lift rocket Neutron. As part of the contract, Rocket Lab will launch two missions on the Neutron in mid-2026. Financial details of the deal were not disclosed. The reusable launch vehicle is expected to conduct its debut launch in 2025, at which point Rocket Lab hopes it can on-ramp onto the U.S. Government’s National Security Space Launch (NSSL) Lane 1 program, which has a contract valued at $5.6 billion over a five-year period.

Rocket Lab projects more than 10,000 satellites will need launch services by 2030, and the company estimates the total addressable market value will balloon to about $10 billion.

Rocket Lab Stock Jumps After Hours

RKLB stock spiked nearly 22% late Tuesday on results. The stock closed down less than 1% during Tuesday’s regular session.

Shares have rocketed 165% this year through Tuesday’s close.

Elsewhere, satellite manufacturer and telecommunications company AST SpaceMobile reports Q3 results late Thursday. FactSet expects a loss of 23 cents per share, improving from a loss of 23 cents last year. Analysts forecast sales of $1.8 million.

You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison

YOU MAY ALSO LIKE:

Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists

Looking For The Next Big Stock Market Winners? Start With These 3 Steps

Join IBD Live And Learn Top Chart Reading And Trading Techniques From Pros

Learn How To Time The Market With IBD’s ETF Market Strategy

Share post:

Popular

More like this
Related

Dores Take Thriller Over Nevada

CHARLESTON,...

Ralls tips ex-Cardiff captain Morrison as ‘great’ future coach

Joe Ralls believes his former Cardiff City captain Sean...

Ralls tips ex-Cardiff captain Morrison as ‘great’ future coach

Joe Ralls believes his former Cardiff City captain Sean...

Derby winner Lewis honoured at Welsh racing awards

Geoff Lewis, the only Welsh jockey to ride a...