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What's in the Cards for Virgin Galactic (SPCE) in Q2 Earnings?
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Virgin Galactic Holdings, Inc. (SPCE - Free Report) is slated to report second-quarter 2022 results on Aug 4 after the closing bell.
In the last reported quarter, the company delivered a negative earnings surprise of 5.88%. Virgin Galactichas a trailing four-quarter negative earnings surprise of 10.84%, on average.
Factors to Note
The company’s second-quarter revenues are expected to have seen the positive impact of astronaut membership fees associated with new ticket sales, primarily driven by strength in the demand for space travel.
However, the cost involved in the EVE enhancement program and VSS Unity and the expansion of the fleet must have increased the overall expenditure of Virgin Galactic in the soon-to-be-reported quarter. This, in turn, might have dampened its earnings in the soon-to-be-reported quarter.
The higher operating cost, primarily attributable to higher manufacturing labor spend, is also expected to have dampened the bottom line of the company. However, favorable revenues are likely to have benefited SPCE’s overall second-quarter earnings.
The Zacks Consensus Estimate for second-quarter earningsis pegged at a loss of 38 cents per share, suggesting an improvement from the year-ago quarter’s reported loss of 39 cents.
Virgin Galactic Holdings, Inc. Price and EPS Surprise
Our proven model does not conclusively predict an earnings beat for Virgin Galactic this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
The company has an Earnings ESP of 0.00% and currently carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are two defense players that you may want to consider as these have the right combination of elements to post an earnings beat this season:
The Zacks Consensus Estimate for Huntington’s second-quarter earnings is pegged at $3.43 per share, indicating growth of 7.2% from the prior-year reported figure. The Zacks Consensus Estimate for Huntington’s second-quarter sales suggests growth of 18.3% from the prior-year reported figure.
Spirit Aerosystems(SPR - Free Report) has an Earnings ESP of +5.71% and a Zacks Rank #3. It boasts a long-term earnings growth rate of 8.5%.
The Zacks Consensus Estimate for SPR’s second-quarter earnings indicates an improvement of 25.8% from the prior-year reported figure.
A Recent Defense Release
Hexcel Corporation (HXL - Free Report) reported second-quarter 2022 adjusted earnings of 33 cents per share, which exceeded the Zacks Consensus Estimate of 30 cents by 10%. The bottom line improved massively from the year-ago earnings of 8 cents per share, thus reflecting growth of a solid 312.5%.
In the second quarter, HXL reported net sales of $393 million, an improvement of 22.7% from the year-ago quarter’s $320.3 million. The company projects to generate adjusted earnings per share in the range of $1.00-$1.24 in 2022.
Image: Bigstock
What's in the Cards for Virgin Galactic (SPCE) in Q2 Earnings?
Virgin Galactic Holdings, Inc. (SPCE - Free Report) is slated to report second-quarter 2022 results on Aug 4 after the closing bell.
In the last reported quarter, the company delivered a negative earnings surprise of 5.88%. Virgin Galactichas a trailing four-quarter negative earnings surprise of 10.84%, on average.
Factors to Note
The company’s second-quarter revenues are expected to have seen the positive impact of astronaut membership fees associated with new ticket sales, primarily driven by strength in the demand for space travel.
However, the cost involved in the EVE enhancement program and VSS Unity and the expansion of the fleet must have increased the overall expenditure of Virgin Galactic in the soon-to-be-reported quarter. This, in turn, might have dampened its earnings in the soon-to-be-reported quarter.
The higher operating cost, primarily attributable to higher manufacturing labor spend, is also expected to have dampened the bottom line of the company. However, favorable revenues are likely to have benefited SPCE’s overall second-quarter earnings.
The Zacks Consensus Estimate for second-quarter earningsis pegged at a loss of 38 cents per share, suggesting an improvement from the year-ago quarter’s reported loss of 39 cents.
Virgin Galactic Holdings, Inc. Price and EPS Surprise
Virgin Galactic Holdings, Inc. price-eps-surprise | Virgin Galactic Holdings, Inc. Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Virgin Galactic this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
The company has an Earnings ESP of 0.00% and currently carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are two defense players that you may want to consider as these have the right combination of elements to post an earnings beat this season:
Huntington Ingalls Industries (HII - Free Report) has an Earnings ESP of +1.46% and a Zacks Rank #3. HII delivered a four-quarter average earnings surprise of 0.72%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Huntington’s second-quarter earnings is pegged at $3.43 per share, indicating growth of 7.2% from the prior-year reported figure. The Zacks Consensus Estimate for Huntington’s second-quarter sales suggests growth of 18.3% from the prior-year reported figure.
Spirit Aerosystems(SPR - Free Report) has an Earnings ESP of +5.71% and a Zacks Rank #3. It boasts a long-term earnings growth rate of 8.5%.
The Zacks Consensus Estimate for SPR’s second-quarter earnings indicates an improvement of 25.8% from the prior-year reported figure.
A Recent Defense Release
Hexcel Corporation (HXL - Free Report) reported second-quarter 2022 adjusted earnings of 33 cents per share, which exceeded the Zacks Consensus Estimate of 30 cents by 10%. The bottom line improved massively from the year-ago earnings of 8 cents per share, thus reflecting growth of a solid 312.5%.
In the second quarter, HXL reported net sales of $393 million, an improvement of 22.7% from the year-ago quarter’s $320.3 million. The company projects to generate adjusted earnings per share in the range of $1.00-$1.24 in 2022.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.