Aerospace and defense company Rocket Lab (NASDAQ: RKLB) will be reporting results tomorrow after market close. Here’s what investors should know.
Rocket Lab beat analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $132.4 million, up 121% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is Rocket Lab a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Rocket Lab’s revenue to grow 31% year on year to $121.6 million, slowing from the 69% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.09 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Rocket Lab has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Rocket Lab’s peers in the aerospace segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Astronics delivered year-on-year revenue growth of 11.3%, beating analysts’ expectations by 7.3%, and Boeing reported revenues up 17.7%, falling short of estimates by 0.6%. Boeing traded up 8.5% following the results.
Read our full analysis of Astronics’s results here and Boeing’s results here.
There has been positive sentiment among investors in the aerospace segment, with share prices up 15.1% on average over the last month. Rocket Lab is up 31.4% during the same time and is heading into earnings with an average analyst price target of $24.60 (compared to the current share price of $22.57).
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