Virgin Galactic, a space-tourism company, reported narrowing losses in Q4 earnings, with revenue missing but EPS beating expectations. The company faced challenges meeting Wall Street's sales expectations and is working on cost control and launch schedule adjustments. Despite the positive developments in 2023, including successful monthly spaceflights, the stock price dropped. However, Truist remains optimistic about the company's progress, noting rising ticket prices as a positive sign.
‘Everything going to plan’ at Virgin Galactic as ticket prices rise, @TruistNews says - my story for @MarketWatch #VirginGalactic $SPCE https://t.co/IH7ZOJGXZW
‘Everything going to plan’ for Virgin Galactic as ticket prices rise, Truist says https://t.co/haxJBr6v3k
Virgin Galactic Stock Is Dropping After Earnings Beat. Here’s Why. https://t.co/yedPWMVPJJ
Virgin Galactic narrows losses, but the space-tourism stock still drops https://t.co/JpzDvDrATO
Virgin Galactic narrows losses, but the space-tourism stock drops https://t.co/QJZXWIkbDM
Virgin Galactic fell short of Wall Street’s sales expectations as the space tourism company works to rein in costs and slow its launch schedule while developing a new spaceplane https://t.co/KXSFnE9PHZ
"2023 was incredible for Virgin Galactic as years of R&D and flight test culminated in launching our commercial Spaceline and successfully flying back-to-back monthly spaceflights, each delivering an exceptional experience for our customers," $SPCE CEO Michael Colglazier said. https://t.co/p7QLoQRtpD
Virgin Galactic Q4 Earnings Highlights: Revenue Miss, EPS Beat, Q1 Guidance, Spaceship Update And More $SPCE https://t.co/q6aFRi3B4q via @Benzinga