Rocket Lab USA Reports Mixed Q1 Results: EPS Beat, Sales Miss
Portfolio Pulse from Erica Kollmann
Rocket Lab USA Inc. (NASDAQ:RKLB) reported Q1 financial results with a per-share loss of 9 cents, beating analyst expectations by 10% but missing sales estimates with $92.767 million versus the expected $94.995 million. The company highlighted a $1 billion backlog, four successful Electron missions, and the initiation of a $515 million contract with the Space Development Agency. Rocket Lab also announced the completion of its Archimedes engine's first full assembly, a key component for its Neutron vehicle. The company anticipates Q2 revenue between $105 million and $110 million.
May 06, 2024 | 9:15 pm
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Rocket Lab USA Inc. reported better-than-expected Q1 EPS but missed on sales, with significant developments in its backlog and projects. The company expects higher Q2 revenue.
The positive EPS beat and the optimistic outlook for Q2 revenue, combined with significant project milestones such as the $515 million Space Development Agency contract and the progress on the Archimedes engine, suggest a positive short-term impact on RKLB's stock price. The slight miss on sales may temper gains, but the overall positive developments and future revenue guidance are likely to be viewed favorably by investors.
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