Intuitive Machines (NASDAQ:LUNR) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• Intuitive Machines reported a quarterly loss of $0.02 per share, beating the $0.10 loss analysts expected, while revenue of $269.35 million exceeded estimates of $245.90 million.
• Revenue reached a record, rising 31% sequentially; the company also reported $8 million in adjusted EBITDA, $33 million in free cash flow, and a $1.9 billion backlog.
• The company set 2026 revenue guidance at $920 million–$950 million and maintained its expectation for positive full-year adjusted EBITDA. Gross margin was 26%, including about $19 million from favorable one-time program adjustments.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) posted its earnings results on Thursday. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.08, reports. The firm had revenue of $269.35 million during the quarter, compared to analysts' expectations of $245.90 million.

Here are the key takeaways from Intuitive Machines' conference call:

• Positive Sentiment: Intuitive Machines reported record third-quarter revenue of $269 million, up 31% sequentially, with positive adjusted EBITDA of $8 million and record free cash flow of $33 million. Backlog reached $1.9 billion, supported by more than $450 million in new bookings and acquired backlog.
• Negative Sentiment: The company refined its 2026 revenue outlook to $920 million–$950 million, citing the timing of contract modifications and awards, while maintaining its expectation for positive full-year adjusted EBITDA. Management expects 13%–15% of September backlog to convert in Q4 and 40%–45% in 2027.
• Negative Sentiment: Gross margin rose to 26%, but included about $19 million in favorable one-time program adjustments; the company also recorded a $34 million operating loss. SG&A included a $9.5 million reserve related to HughesNet’s bankruptcy.
• Positive Sentiment: The company highlighted a more diversified business across civil, commercial, and defense markets, with new satellite awards and expanded ground-network capabilities following the Goonhilly and COMSAT acquisition. Management said production-readiness investments are intended to improve its ability to convert backlog into deliveries and revenue.
• Neutral Sentiment: Intuitive Machines plans to launch its first Altus lunar communications satellite with IM-3, targeted for March–April 2027, and launch four more in 2028; the timing depends on completing testing and commissioning. Management sees NASA’s 10-year CLPS 2 program as a longer-term growth opportunity, but task orders are expected to begin in 2027 and future service revenue has not yet been quantified.

Intuitive Machines Price Performance

Shares of Intuitive Machines stock traded up $1.24 on Thursday, reaching $13.42. The company had a trading volume of 23,140,043 shares, compared to its average volume of 11,544,003. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -14.16 and a beta of 1.91. The firm's 50-day moving average price is $12.98 and its two-hundred day moving average price is $19.33. Intuitive Machines has a 1 year low of $7.78 and a 1 year high of $46.75.

Key Intuitive Machines News

Investors following LUNR have been watching these news items:

• Positive Sentiment: LUNR reported a third-quarter loss of $0.02 per share, narrower than analysts’ consensus estimate of a $0.10 loss, and revenue of $269.35 million, ahead of expectations of $245.90 million. The company also highlighted record results across revenue, profitability, positive cash flow and backlog. Intuitive Machines Q3 2026 results
• Positive Sentiment: The company’s 2026 revenue guidance is $920 million–$950 million, broadly in line with the current consensus estimate, providing visibility into expected growth. Intuitive Machines Q3 2026 results
• Positive Sentiment: Intuitive Machines recently landed a NASA lunar contract with a potential scope of up to $15 billion, which could provide significant long-term opportunity; the full value is not guaranteed. Intuitive Machines lands NASA lunar contract

Insider Activity

In related news, insider Steven Vontur sold 3,050 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the sale, the insider directly owned 113,997 shares in the company, valued at $1,838,771.61. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Timothy Crain, II sold 100,000 shares of Intuitive Machines stock in a transaction on Friday, September 18th. The stock was sold at an average price of $13.98, for a total transaction of $1,398,000.00. Following the transaction, the senior vice president directly owned 351,279 shares of the company's stock, valued at $4,910,880.42. The trade was a 22.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 391,263 shares of company stock valued at $6,077,802. 54.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LUNR. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intuitive Machines in a research note on Thursday, October 15th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Intuitive Machines in a report on Monday, September 21st. Zacks Research upgraded Intuitive Machines from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Canaccord Genuity Group cut their target price on shares of Intuitive Machines from $41.00 to $39.00 and set a "buy" rating for the company in a report on Tuesday, August 18th. Finally, B. Riley Financial reduced their price target on shares of Intuitive Machines from $43.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, November 4th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.75.

About Intuitive Machines

Intuitive Machines is a space exploration and infrastructure company headquartered in Houston, Texas. It develops and operates lunar landers and provides services intended to support missions to the Moon and other space destinations. The company's offerings include lunar payload delivery, spacecraft and mission operations, and communications and data services. Its Nova-C lunar lander is designed to carry scientific instruments and other customer payloads to the lunar surface, including through NASA's Commercial Lunar Payload Services program.

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