Aerospace and defense company Rocket Lab (NASDAQ:RKLB) will be reporting results this Monday after the bell. Here’s what you need to know.
Rocket Lab beat analysts’ revenue expectations last quarter, reporting revenues of $200.3 million, up 63.5% year on year. It was an incredible quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Is Rocket Lab a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Rocket Lab’s revenue to grow 60.5% year on year, improving from the 36% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Rocket Lab has a history of exceeding Wall Street’s expectations.
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. ATI delivered year-on-year revenue growth of 10.6%, beating analysts’ expectations by 3.4%, and Ducommun reported revenues up 11.8%, topping estimates by 4.3%. ATI traded up 11.1% following the results while Ducommun was also up 2.8%.
Read our full analysis of ATI’s results here and Ducommun’s results here.
There has been positive sentiment among investors in the aerospace segment, with share prices up 3% on average over the last month. Rocket Lab is up 3.3% during the same time and is heading into earnings with an average analyst price target of $111.31 (compared to the current share price of $83.75).
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