Intuitive Machines Inc. shares. LUNR and AST SpaceMobile inc. ASTS is trading higher on Wednesday, buoyed by Rocket Lab Inc.’s strong RKLB earnings. And the recent contracts it won. Intuitive Machines and AST SpaceMobile are both scheduled to report earnings on Thursday. Here’s what you need to know.
What happened with RKLB: Rocket Lab reported revenue of $104.81 million, beating the consensus of $102.28 million, according to Benzinga Pro. The overall aerospace company reported a loss per share of 10 cents, versus an expected loss per share of 11 cents.
The company said it set a new record in annual launches with 12 launches so far, and indicated that it expects strong revenues in the fourth quarter, ranging between $125 million and $135 million. CEO Peter Beck highlighted the company’s 55% year-over-year revenue growth and backlog of $1.05 billion. Rocket Lab shares were up about 35% at last check.
Rocket Lab also made a series of announcements in connection with its earnings release:
A multiple launch agreement with the operator of a secret commercial satellite constellation, using its new medium-lift rocket, Neutron. An $8 million US Air Force contract to support the development of its reusable rocket engine, Archimedes. An upcoming online launch for Kinéis, scheduled for late November.
Related Link: Rocket Lab Stock Takes Off on Wednesday: What’s Happening?
LUNR and ASTS Earnings Preview: Intuitive Machines and AST SpaceMobile will report earnings after the market close on Thursday.
Intuitive Machines is expected to report a loss of 12 cents per share and revenue of $50.89 million, while AST SpaceMobile is expected to report a loss of 20 cents per share and revenue of $24.13 million, according to Benzinga Pro Estimates.
Both stocks are benefiting from momentum in the space sector that began when Donald Trump was declared the winner of the 2024 presidential election.
The space industry could benefit in the Trump era given SpaceX CEO Elon Musk’s close ties to the president-elect. Reports last week suggested we may be seeing changes at the FAA’s Commercial Space Office, which oversees private rocket launches.
Price Action: Intuitive Machines shares are up 14.7% at $11.95, and AST SpaceMobile shares are up 18.3% at $28.70 at the time of writing, according to Benzinga Pro.
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