Rocket Lab (NASDAQ:RKLB) stock is a hot topic among traders on Wednesday after the space company announced its first mission of the year.
Rocket Labs notes that it has completed Spire and NorthStar’s Space Situational Awareness Mission. This marks its first mission of 2024 and the company has high expectations for the rest of the year.
Rocket Lab says that it has more missions scheduled for 2024 “than in any year prior.” The company also mentions that its backlog has reached a new record as it continues to service customers in the end-to-end space solutions market.
Rocket Lab founder and CEO Peter Beck said the following in a news release:
“Our fourth quarter included Electron’s successful return to service and our largest contract award to date with the $515 million Space Development Agency’s Tranche 2 Beta award. In addition, our Space Systems business improved year-over year on increased merchant component business.”
RKLB Stock Jumps on Preliminary Q4 Earnings
Alongside today’s mission news comes a preliminary look at Rocket Lab’s fourth-quarter performance. That includes revenue between $59 million and $61 million. For the record, its revenue from the same period of the year prior was $51.8 million. It’s also worth keeping in mind that Wall Street’s estimate is for $65.97 million in revenue.
RKLB stock is up slightly as of Wednesday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
