Rocket Lab USA Inc.
RKLB,
late Tuesday lowered its guidance for the third quarter after its Sept. 19 launch ended in failure. The launch services provider said it expects third-quarter revenue between $66 million and $68 million, compared with a previous guidance of $73 million to $77 million. It also lowered its adjusted gross margin targets to between 26% and 28%, from a prior guidance of between 28% and 30%. The company is investigating the earlier in-flight “anomaly,” and it does not expect “any material incremental expenses” for the third quarter as a result of the problem. “Rocket Lab is in position to return to flight as soon as investigations are complete,” it said. The stock dropped nearly 2% in the extended session Tuesday after ending the regular trading day down 2.5%.
