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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 2023 results on Aug 1 after the closing bell.
In the last reported quarter, the company delivered a negative earnings surprise of 14.00%. Virgin Galactic has a trailing four-quarter negative earnings surprise of 16.63%, on average.
Factors to Note
Future astronaut membership fees are likely to have continued to contribute to the top line of the company in the second quarter. The increased focus on commercial spaceflight operations and the start of commercial service for space travel are likely to have added impetus to its second-quarter revenues.
However, increased research & development expenses due to engineering work for its future fleet and higher SG&A expenses on account of higher nonrecurring legal and severance costs may have weighed on SPCE’s second-quarter bottom-line performance.
Q2 Expectations
The Zacks Consensus Estimate for Virgin Galactic’s second-quarter sales is pegged at $1.26 million, suggesting a massive improvement of 249.7% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for second-quarter earnings is pegged at a loss of 51 cents per share, suggesting a deterioration from the year-ago quarter’s reported loss of 43 cents.
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 ESP and 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.
Virgin Galactic Holdings, Inc. Price and EPS Surprise
The Zacks Consensus Estimate for Embraer’s second-quarter earnings, pegged at 12 cents per share, indicates a decline of 42.9% from the prior-year reported figure. The Zacks Consensus Estimate for ERJ’s sales suggests a growth rate of 14.3% from the prior-year reported figure.
Huntington Ingalls Industries, Inc. (HII - Free Report) has an Earnings ESP of +0.48% and a Zacks Rank #3. HII delivered a four-quarter average earnings surprise of 8.09%.
The Zacks Consensus Estimate for HII’s second-quarter sales is pegged at $2.73 billion, suggesting a growth rate of 2.5% from the prior-year reported figure. The Zacks Consensus Estimate for its second-quarter earnings implies a decline of 29.3% from the prior-year reported figure.
L3Harris Technologies (LHX - Free Report) has an Earnings ESP of +0.85% and a Zacks Rank #3. LHX delivered a four-quarter average negative earnings surprise of 0.37%.
The Zacks Consensus Estimate for the company’s second-quarter sales is pegged at $4.36 billion, suggesting a growth rate of 5.6% from the prior-year reported figure. The Zacks Consensus Estimate for its second-quarter earnings stands at $2.94 per share.
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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 2023 results on Aug 1 after the closing bell.
In the last reported quarter, the company delivered a negative earnings surprise of 14.00%. Virgin Galactic has a trailing four-quarter negative earnings surprise of 16.63%, on average.
Factors to Note
Future astronaut membership fees are likely to have continued to contribute to the top line of the company in the second quarter. The increased focus on commercial spaceflight operations and the start of commercial service for space travel are likely to have added impetus to its second-quarter revenues.
However, increased research & development expenses due to engineering work for its future fleet and higher SG&A expenses on account of higher nonrecurring legal and severance costs may have weighed on SPCE’s second-quarter bottom-line performance.
Q2 Expectations
The Zacks Consensus Estimate for Virgin Galactic’s second-quarter sales is pegged at $1.26 million, suggesting a massive improvement of 249.7% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for second-quarter earnings is pegged at a loss of 51 cents per share, suggesting a deterioration from the year-ago quarter’s reported loss of 43 cents.
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 ESP and 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.
Virgin Galactic Holdings, Inc. Price and EPS Surprise
Virgin Galactic Holdings, Inc. price-eps-surprise | Virgin Galactic Holdings, Inc. Quote
Upcoming Defense Releases
Embraer S.A. (ERJ - Free Report) has an Earnings ESP of +25.00% and a Zacks Rank #3. The long-term earnings growth rate of ERJ is 17%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Embraer’s second-quarter earnings, pegged at 12 cents per share, indicates a decline of 42.9% from the prior-year reported figure. The Zacks Consensus Estimate for ERJ’s sales suggests a growth rate of 14.3% from the prior-year reported figure.
Huntington Ingalls Industries, Inc. (HII - Free Report) has an Earnings ESP of +0.48% and a Zacks Rank #3. HII delivered a four-quarter average earnings surprise of 8.09%.
The Zacks Consensus Estimate for HII’s second-quarter sales is pegged at $2.73 billion, suggesting a growth rate of 2.5% from the prior-year reported figure. The Zacks Consensus Estimate for its second-quarter earnings implies a decline of 29.3% from the prior-year reported figure.
L3Harris Technologies (LHX - Free Report) has an Earnings ESP of +0.85% and a Zacks Rank #3. LHX delivered a four-quarter average negative earnings surprise of 0.37%.
The Zacks Consensus Estimate for the company’s second-quarter sales is pegged at $4.36 billion, suggesting a growth rate of 5.6% from the prior-year reported figure. The Zacks Consensus Estimate for its second-quarter earnings stands at $2.94 per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.