Intuitive Machines (NASDAQ:LUNR) Releases Earnings Results, Beats Estimates By $0.08 EPS

Intuitive Machines (NASDAQ:LUNR) issued 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 company had revenue of $269.35 million for 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 Stock Down 2.3%

Shares of NASDAQ LUNR traded down $0.30 during midday trading on Friday, reaching $12.73. 6,554,824 shares of the company’s stock traded hands, compared to its average volume of 11,544,960. The stock’s 50 day simple moving average is $12.95 and its 200-day simple moving average is $19.30. Intuitive Machines has a one year low of $7.78 and a one year high of $46.75. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -13.31 and a beta of 1.91.

Insider Activity at Intuitive Machines

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

Latest Intuitive Machines News

Here’s some of the latest news about LUNR:

• Positive Sentiment: Third-quarter revenue reached a record $269.35 million, beating expectations of $245.90 million, while the company reported positive cash flow and improved profitability. Its $1.9 billion backlog—spanning civil, commercial and defense work—adds visibility to future demand. Intuitive Machines Q3 financial results
• Positive Sentiment: Management’s 2026 revenue outlook of $920 million to $950 million is broadly in line with consensus. The company also discussed growth plans and accelerating lunar infrastructure efforts, which could support longer-term prospects. Q3 earnings call and outlook
• Negative Sentiment: Despite the strong quarter, investors may be weighing execution risk: the $1.9 billion backlog must translate into delivered work and sustained growth. The lower Roth target may also temper near-term sentiment. Backlog and growth analysis

Wall Street Analyst Weigh In

Several research firms have commented on LUNR. Roth Capital reduced their price objective on Intuitive Machines from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. KeyCorp decreased their target price on Intuitive Machines from $38.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, November 2nd. Canaccord Genuity Group dropped their price target on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Stifel Nicolaus upgraded Intuitive Machines from a “hold” rating to a “buy” rating and cut their price target for the company from $32.00 to $26.00 in a research note on Friday, August 14th. Finally, Zacks Research upgraded Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.50.

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.