Stock Story -
Aerospace and defense company Rocket Lab (NASDAQCM:RKLB) will be reporting earnings tomorrow afternoon. Here's what to expect.
Rocket Lab missed analysts' revenue expectations by 2.3% last quarter, reporting revenues of $92.77 million, up 69% year on year. It was a mixed quarter for the company, with a solid beat of analysts' earnings estimates.
Is Rocket Lab a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Rocket Lab's revenue to grow 72.9% year on year to $107.3 million, improving from the 11.8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.07 per share.
The majority of analysts covering the company have 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 Q2 results, giving us a hint as to what we can expect. Howmet delivered year-on-year revenue growth of 14.1%, beating analysts' expectations by 2.5%, and Astronics reported revenues up 13.6%, topping estimates by 3.7%. Howmet traded up 15.5% following the results while Astronics was down 7.7%.
Read the full analysis of Howmet's and Astronics's results on StockStory.
Investors in the aerospace segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Rocket Lab is down 7.1% during the same time and is heading into earnings with an average analyst price target of $7.2 (compared to the current share price of $4.72).