Rocket Lab Shares Surge 14 Percent as Backlog Hits Record $2.2 Billion

Rocket Lab shares jumped 14 percent Monday, extending gains from a 30 percent surge the previous session and pushing the stock to a record high. The two-day rally follows the release of first-quarter earnings that beat expectations and showed accelerating revenue growth.

The company reported revenue of $200.3 million for the quarter, a 63.5 percent increase from a year earlier. It posted a loss of $0.07 per share, better than the $0.08 analysts expected. Guidance for the current quarter projects revenue of $232.5 million at the midpoint, 12 percent above Wall Street forecasts.

During the quarter the company signed 31 Electron and HASTE rocket missions, the highest number ever booked in a single period. It also secured five dedicated launches for its larger Neutron rocket. Total backlog reached $2.2 billion, up 20 percent from the prior quarter and 108 percent from a year ago.

The company was selected alongside a defense contractor to support the Defense Department’s Space Based Interceptor program as part of the Golden Dome missile defense initiative. It also announced plans to acquire a robotics firm whose technology has flown on NASA Mars rover missions.

Monday’s trading reflected continued investor enthusiasm for commercial space companies. With a major competitor widely expected to pursue an initial public offering as soon as this summer, some investors have turned to Rocket Lab as the most direct publicly traded pure-play in the sector.

The national average price for regular gasoline dropped to $4.504 per gallon on Tuesday, the second consecutive daily decline after weeks of increases that pushed fuel costs to yearly highs. Last week the average climbed 30 cents over seven days to $4.483.

Tuesday’s price remains above levels from a month ago when the national average stood at $4.125 and well above the five-year low of $2.79 reached in mid-January. The year-to-date high of $4.56 per gallon was set last week, according to AAA data. Fuel costs rose sharply after conflict began with Iran in March.

The national average climbed from $2.98 per gallon in the first week of March to $4.02 by the end of that month and peaked at $4.16 on April 9. Winter weather had already disrupted refinery operations earlier in the year. The president suggested temporarily suspending the federal gas tax to ease costs at the pump.

Any such suspension would require congressional approval and would reduce prices by at most 18.4 cents per gallon. Regional differences remain wide. California has the highest average at $6.153 per gallon, followed by Washington state, Hawaii, Oregon and Alaska.

The lowest prices are in Oklahoma at $3.943, followed by Mississippi, Louisiana, Texas and Arkansas. >"I think it’s a great idea. The company now holds more than 70 launches in its backlog across its Electron, HASTE and Neutron programs. Gas price volatility has been a recurring theme in 2026, fluctuating from below $2.80 to above $4.50 per gallon.

Tuesday’s decline offers some relief to consumers after more than two weeks of daily increases earlier this month.