What's Going On With Rocket Lab Stock Tuesday?

Rocket Lab USA Inc RKLB shares are moving higher. The company on Tuesday announced the successful launch of its 54th Electron mission.

What Happened: Rocket Lab said it deployed a single satellite to Low Earth Orbit for a confidential commercial customer after successfully completing its “Changes in Latitudes, Changes in Attitudes” mission.

The company’s 54th Electron launch took place at Launch Complex 1 in New Zealand. The mission marked Rocket Lab’s 12th Electron launch so far this year, up from 10 Electron launches in 2023.

Rocket Lab noted that Electron remains the United States’ second most frequently launched rocket annually, and is the third most frequently launched rocket in the world on an annual basis. The company highlighted that its latest mission was launched less than 10 weeks after the contract was signed.

“Another successful launch showcasing all the best attributes of the Rocket Lab team and Electron: a streamlined process from contract to orbit, pinpoint deployment accuracy, and a responsive service tailored exactly to the customer’s needs,” said Peter Beck, founder and CEO of Rocket Lab.

“Now 12 for 12 this year across commercial, civil, and national security missions, I’m proud of the team for delivering launch after launch as we continue to deliver a record year across launch and space systems.”

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Rocket Lab is due to report third-quarter financial results after the market close on Nov. 12. Analysts expect the company to report a loss of 11 cents per share and revenue of $102.28 million, according to estimates from Benzinga Pro.

Last quarter, Rocket Lab beat analyst estimates on the top and bottom lines as revenue jumped 71% year-over-year. The company guided for third-quarter revenue of $100 million to $105 million and an adjusted EBITDA loss of $31 million to $33 million.

Investors will be watching for any updates on the company’s medium lift rocket Neutron. Rocket Lab announced that it completed its first successful hot fire of Neutron’s Archimedes engine when it reported earnings last quarter. Neutron’s first flight is expected sometime in mid-2025.

RKLB Price Action: Rocket Lab shares were up 3.28% at $11.62 at the time of publication Tuesday, per Benzinga Pro.

Photo: courtesy of Rocket Lab.