Rocket Lab Postpones Virginia Launch to January, Lowers Q4 Revenue Estimate

Rocket Lab (NAS: RKLB) has postponed its first Electron launch from U.S. soil and lowered its revenue guidance for the fourth quarter.

“As a result, Rocket Lab is updating its expected Q4 2022 revenue outlook from the range of $51 million to $54 million previously provided on November 9, 2022, to $46 million – $47 million,” the company said.

The company’s stock is currently down 3.12% to $3.78 today.

“The move of the planned launch window from December 2022 to early 2023 was driven by weather and the additional time that the National Aeronautics and Space Administration (NASA) at Wallops and the Federal Aviation Administration (FAA) required to complete essential regulatory documentation for launch. The delay in documentation left only two days in the originally scheduled 14-day launch window and both of those final remaining days were unsuitable for launch due to bad weather,” the company said.

“The Mid-Atlantic Regional Spaceport within NASA’s Wallops Flight Facility is now closed for launch activity for the remainder of the December due to holiday airspace restrictions, preventing further launch attempts in 2022. Now scheduled for January, the mission will still take place from Virginia,” Rocket Lab added.

The “Virginia Is for Launch Lovers” mission will carry three radio frequency monitoring satellites for HawkEye 360. It would have been Rocket Lab’s 10th launch of 2022 and first from American soil. The company has conducted 32 launches from its spaceport on the Mahia Peninsula in New Zealand.