Key Takeaways
- Virgin Galactic's nonaccomplishment per stock exceeded expert predictions and widened YOY.
- The institution reported its archetypal quarterly gross since Q1 FY 2020.
- Virgin Galactic successfully completed 2 abstraction flights and received cardinal FAA support successful determination toward commercialized service.
| Metric | Beat/Miss/Match | Reported Value | Analysts' Prediction |
| EPS | Miss | -$0.39 | -$0.34 |
| Revenue (millions) | Match | $0.6 | $0.6 |
Source: Predictions based connected analysts' statement from Visible Alpha
Virgin Galactic (SPCE) Financial Results: Analysis
Virgin Galactic Holdings, Inc. (SPCE) reported Q2 FY 2021 net that were mixed comparative to expert predictions. The institution posted losses per stock that widened year-over-year (YOY) and that missed expert predictions. Virgin Galactic has posted losses per stock for astatine slightest the past 14 quarters, and this quarter's losses are the 3rd largest implicit that period. On the different hand, the institution posted quarterly gross for the archetypal clip pursuing 4 consecutive quarters of nary revenue. Quarterly gross of $0.6 cardinal matched expert predictions.
Shares of Virgin Galactic spiked by astir 11% successful aft hours trading earlier settling backmost down. They are present up astir 5.4% wide successful extended trading. Virgin Galactic shares person fluctuated dramatically implicit the past year, climbing good supra and falling beneath the marketplace aggregate times. The company's banal is presently outperforming the market, providing 1-year trailing full returns of 56.5% arsenic compared with 33.1% for the S&P 500, arsenic of Aug. 5.
VSS Unity Flight and FAA License Update
On July 11, Virgin Galactic's VSS Unity completed its archetypal abstraction formation with a afloat crew. This marks a important measurement toward the company's plans to motorboat commercialized work successful 2022. Another cardinal milestone toward that extremity was an update to Virgin Galactic's existing commercialized abstraction proscription relation licence to let the institution to alert customers into space. This update was made by the Federal Aviation Administration (FAA) and marks the archetypal clip this enactment has licensed a spaceline to alert customers.
Virgin Galactic (SPCE) Earnings Call Recap
Virgin Galactic CEO Michael Colglazier said that the institution would reopen summons sales, with prices starting astatine $450,000 per seat. This terms constituent is importantly higher than erstwhile the institution antecedently offered tickets for sale. Colglazier said that Virgin Galactic has "a purposeful scope of merchandise offerings successful bid to fulfill the antithetic ways radical volition privation to stock this acquisition of backstage astronaut flights."
The institution did not connection immoderate guardant net oregon gross guidance successful its net property release.
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