Earnings

Virgin Galactic SPCE earnings Q4 2020

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A Banner hangs outside the New York Stock Exchange (NYSE) ahead of the Virgin Galactic (SPCE) IPO in New York, U.S., October 28, 2019.

Brendan McDermid | Reuters

Virgin Galactic delivered fourth quarter results after the market closed on Thursday, with the company disclosing its next spaceflight test is delayed to May and pushing the beginning of flying passengers to early 2022.

The company was targeting as early as Feb. 13 for the spaceflight test of its SpaceShipTwo vehicle “Unity,” which represents a repeat of its flight attempt in December that was cut short by an engine anomaly. Virgin Galactic’s investor presentation disclosed that it “identified EMI as the root cause” of the December…



Source cnbc.com

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