Intuitive Machines Misses Q2 Estimates, Affirms $1B Revenue Goal
LUNR has more than doubled off its 52-week low of $7.78.
Summary
Intuitive Machines reported Q2 revenue of $206.17M, up 4x YoY but below the $220.76M consensus, and a GAAP loss of 29 cents per share versus the 7-cent loss expected. The company affirmed full-year revenue guidance of $900M-$1B, below the $934M estimate, while management cited strong visibility to the low end and dependence on contract timing for the high end. This follows the earlier GlobeNewswire release of the same results, but adds the miss versus estimates and the guidance affirmation, which are the key trading inputs. The stock was down 1.95% at $16.62 on the day, reflecting the negative surprise. Watch for the October IM-3 flight-readiness review and Q3 contract definitization as the next catalysts.
At the time of this announcement, LUNR was trading at $16.98 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $7.78 to $46.75. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.