Rocket Lab Surging Wednesday After Better-Than-Expected Q3 Results, Above-Consensus Q4 Outlook

MT Newswires Live

Nov 14, 2024

Rocket Lab USA (RKLB) rallied Wednesday, climbing nearly 50%, after overnight reporting Q3 financial results topping Wall Street expectations and forecasting revenue for the current quarter also exceeding the analyst consensus.

Rocket Lab, a space services company, recorded a net loss of $0.10 per diluted share on $104.8 million in revenue during the three months ended Sept. 30. That compares with the consensus call of analysts polled by Capital IQ expecting a Q3 loss of $0.11 per share on $102.4 million in revenue.

The company also is projecting Q4 revenue in a range of $125 million and $135 million while analysts, on average, are looking for $122.2 million in revenue for the quarter.

Also Tuesday, Rocket Lab said it signed a multi-launch agreement with a confidential commercial satellite constellation operator for its new Neutron rocket. The company will launch two missions on the Neutron in mid-2026. Financial terms were not disclosed.

Price: 21.87, Change: +7.21, Percent Change: +49.18

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