Rocket Lab USA, Inc.（RKLB）今日盘前交易时段股价大跌8.08%，引发市场广泛关注。
消息面上，公司于周一盘后公布了2026年第二季度财报，业绩表现好坏参半。尽管营收同比增长62%至2.34亿美元，略高于市场预期的2.32亿美元，且积压订单达到创纪录的23.6亿美元；但每股亏损0.08美元，逊于分析师普遍预期的0.06至0.07美元，盈利能力不及市场预期。
更令市场担忧的是，公司给出的第三季度GAAP毛利率指引仅为29%至31%，远低于分析师平均预期的37.6%。管理层将此归因于产品销售结构变化，利润率较低的卫星平台在整体业务中占比逐渐增大，导致整体盈利能力面临阶段性压力。此外，公司暗示其Neutron火箭项目可能出现新的延期风险，首席执行官彼得·贝克坦言年底发射的时间窗口正在收窄，这款被视为挑战SpaceX猎鹰9号的主力火箭首飞时间或推迟至2027年。盈利不及预期、毛利率指引大幅逊于预期，叠加Neutron项目延期风险，三重因素共同导致股价在盘前承压下跌。
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