Why Intuitive Machines Stock Is Soaring Today
Key Points
Intuitive Machines missed Wall Street's sales and earnings targets with its Q2 report.
The company's backlog reached $1.8 billion at the end of Q2.
Intuitive Machines reaffirmed its full-year guidance and gave an update on its lunar satellite constellation plans.
Intuitive Machines (NASDAQ: LUNR) published its second-quarter results after the market closed yesterday, and its stock is seeing strong gains in Friday's trading. The company's share price was up 10.5%in the daily session as of 12:30 p.m. ET.
Intuitive Machines' Q2 sales and earnings actually came in below Wall Street's expectations, but there was some good news for investors. In addition to reaffirming its full-year sales forecast, the company provided new details about its lunar satellite constellation plans.
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Investors aren't worried that Intuitive Machines' Q2 results missed the mark
In the second quarter, Intuitive Machines recorded a net loss of $0.29 per share and revenue of roughly $206.2 million. The average Wall Street analyst estimate had only targeted a per-share loss of $0.10 in the quarter, and the average forecast called for sales in the period to be roughly $15 million higher. Despite the sales and earnings misses, other updates from the company has been enough to spur big gains for the stock today.
Intuitive Machines reaffirmed its guidance and shared new tech plans
While the company's Q2 sales came in below expectations, Intuitive Machines still expects to post revenue between $900 million and $1 billion this year. The company also expects to record positive non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA).
With the company's backlog increasing to $1.8 billion at the end of Q2 from roughly $300 million at the end of 2025, momentum appears strong in spite of sales missing Wall Street's forecast last quarter. Even better, the company says that it expects to have its full lunar satellite constellation network deployed in 2028 -- which would put tech foundations in place that could help supercharge the company's sales growth.
Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intuitive Machines. The Motley Fool has a disclosure policy.