Virgin Galactic (SPCE) Reports Q3 Loss, Misses Revenue Estimates

Group 1 - Virgin Galactic reported a quarterly loss of $2.66 per share, which was better than the Zacks Consensus Estimate of a loss of$ 4.10, and an improvement from a loss of $5.60 per share a year ago, resulting in an earnings surprise of 35.12% [1] - The company posted revenues of$ 0.4 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 13.55%, and down from $1.73 million in the same quarter last year [2] - Virgin Galactic shares have declined approximately 86% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3] Group 2 - The earnings outlook for Virgin Galactic is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to those expectations [4] - The trend of estimate revisions for Virgin Galactic is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is -$ 4.28 on revenues of $0.27 million, and for the current fiscal year, it is -$ 18.11 on revenues of $7.29 million [7] Group 3 - The Aerospace - Defense industry, to which Virgin Galactic belongs, is currently ranked in the bottom 46% of over 250 Zacks industries, suggesting that the industry's outlook can significantly impact stock performance [8]