Rocket Lab reports Q3 EPS (8c), consensus (9c)

Reports Q3 revenue $67.661M, consensus $68.91M. Rocket Lab founder and CEO, Peter Beck, said: “Rocket Lab’s third quarter began strongly with two successful Electron missions that accelerated our recovery program to make Electron the world’s first reusable small orbital rocket. Following the subsequent September 19th anomaly, we’ve been laser-focused this quarter on the return to service of Electron. The cause of the anomaly is a highly complex set of conditions that are extremely difficult to replicate in testing. However, we believe the findings of the Rocket Lab investigation team overwhelmingly indicate that an electrical arc occurred within the power supply system that provides high voltage to the Rutherford engine’s motor controllers, shorting the battery packs which provide power to the launch vehicle’s upper stage. With growing confidence in our determination of the anomaly’s probable root cause and corrective measures in place, we expect to formally close our investigation in the coming weeks. Electron’s return to flight is scheduled during a launch window that opens from November 28, 2023, and extends into December.”