Shares of space tourism company Virgin Galactic (SPCE -5.26%) tumbled 10% through 10:10 a.m. ET on Wednesday after the company reported mixed earnings for its fiscal Q4 2023 last night.No one expected Virgin Galactic to earn a profit last quarter. (No one expects Virgin Galactic to be profitable for quite a long time, in fact.) It was still a pleasant surprise last night, though, to see that the company lost a bit less money ($0.26 per share) than analysts had feared it would lose ($0.30 per share). On the ...

Virgin Galactic Holdings Inc. lost less money than expected in the latest quarter, but its stock declined in Tuesday’s extended session. The aerospace and space-travel company logged a fiscal fourth-quarter net loss of $104 million, or 26 cents a share, whereas it lost $151 million, or 55 cents a share, in the year-before quarter. Analysts tracked by FactSet were expecting a 30-cent loss per share. Virgin Galactic SPCE, +6.74% also posted an $84 million loss on the basis of adjusted earnings before int ...

The Company believes that presenting these non-GAAP financial measures provides useful supplemental information to investors about the Company in understanding and evaluating its operating results, enhancing the overall understanding of its past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by its management in financial and operational-decision making. However, there are a number of limitations related to the use of non-GAAP measures and ...

For more information about these risks and uncertainties, please refer to the risk factors in the company's SEC filings made from time to time. You are cautioned not to put undue reliance on forward-looking statements, and the company specifically disclaims any obligation to update the forward-looking statements that may be discussed during this call, whether as a result of new information, future events or otherwise. With that, I would like to turn the call over to Michael. Please go ahead. Good afternoon, ...

Virgin Galactic (SPCE) came out with a quarterly loss of $0.25 per share versus the Zacks Consensus Estimate of a loss of $0.30. This compares to loss of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this company would post a loss of $0.42 per share when it actually produced a loss of $0.28, delivering a surprise of 33.33%.Over the last four quarters, the company has surpasse ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-38202 ____________________________ Virgin Galactic Holdings, Inc. (Exact name of registrant as specifi ...

Virgin Galactic Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update ORANGE COUNTY, CALIFORNIA. – February 27, 2024 – Virgin Galactic Holdings, Inc. (NYSE: SPCE) ("Virgin Galactic" or the "Company") today announced its financial results for the fourth quarter and full year ended December 31, 2023 and provided a business update. Michael Colglazier, Chief Executive Officer of Virgin Galactic said, "2023 was incredible for Virgin Galactic as years of R&D and flight test cu ...

Share prices of Virgin Galactic (SPCE -3.65%) have fallen roughly 60% over the past year. The stock is down over 95% from its highs in 2021. Contrarian investors might view that level of pessimism as an indication that there's a buying opportunity here. Be careful; there are also very big risks. Here are three things you need to know before you buy this deeply out-of-favor space stock.1. Red ink on top of red inkThe first big thing that any investor in Virgin Galactic needs to understand is that this compan ...

In space, no one can hear a pin drop.Richard Branson’s Virgin Galactic was forced to ground its rocket after a part fell off during its first space tourism flight of 2024. The “alignment pin detached” during its most recent spaceflight, Galactic 06, on Jan. 26, the company announced Tuesday.The pin was used to hold together the two halves of the Virgin Galactic spaceship — the “mothership” VMS Eve that pilots the voyage and the rocket that carries tourists into outer space.Eight people were on board when t ...

In the latest trading session, Virgin Galactic (SPCE) closed at $1.76, marking a -0.56% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.06% for the day. Meanwhile, the Dow experienced a rise of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.24%.Prior to today's trading, shares of the company had lost 23.04% over the past month. This has lagged the Aerospace sector's loss of 0.13% and the S&P 500's gain of 6.45% in that time.Market participants w ...