Intuitive Machines Stock Lifts Off: What's Happening?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares are trading higher, along with other space stocks, in sympathy with Space Exploration Technologies Corp. (NASDAQ:SPCX) after SpaceX reported third-quarter results.

• Intuitive Machines stock is among today’s top performers. Why are LUNR shares rallying?

SpaceX Beats on Earnings and Revenue

SpaceX reported third-quarter earnings per share of 35 cents, beating the consensus estimate of 12 cents. The company reported revenue of $14.58 billion, beating the consensus estimate of $12.74 billion. Revenue rose 161% from a year earlier, driven by its Super Intelligence cloud business and Starlink subscriber growth.

Space revenue, which includes launch, was $1.8 billion, up 84% from the second quarter and 6% from a year earlier. SpaceX said it had a 90% share of global mass launched to orbit in the quarter. The company also won three more Dragon crewed missions, a Starlink communications contract on NASA’s Artemis III mission and a contract to deliver payload to the lunar surface with Starship. CEO Elon Musk said Starship Flight 15, expected next month, will try to catch both the booster and the ship.

Why SpaceX’s Report Matters for LUNR

Intuitive Machines relies on SpaceX for launches. SpaceX has been the launch provider for its lunar landers, including IM-3 and IM-4, and for its satellite platforms, so SpaceX’s launch cadence and Starship progress directly affect what Intuitive Machines can fly and what it costs.

SpaceX is also the largest company in the space sector, so investors tend to trade the group as a single theme, and Intuitive Machines fell 6% on a day SpaceX fell 4% earlier this month. A strong report reinforces investors’ view that spending on launch, lunar missions and space infrastructure is healthy.

Intuitive Machines Shares Rally

LUNR Price Action: At the time of writing, Intuitive Machines stock is trading 5.98% higher at $11.17, according to data from Benzinga Pro.

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