Space giant Space Exploration Technologies Corp. (NASDAQ: SPCX) reports quarterly financial results for the second time since becoming a public company, with third-quarter results due Tuesday after market close.

Here are the earnings estimates, analyst ratings and key items to watch.

SpaceX Q3 Earnings Estimates

Analysts expect SpaceX to report third-quarter revenue of $12.74 billion, according to data from MarketDash Pro.

This marks the second time SpaceX will report quarterly revenue as a public company. The second quarter total reported was $7.81 billion, which beat a Street consensus estimate of $6.93 billion.

Analysts expect SpaceX to report earnings of 14 cents per share for the third quarter.

In the second quarter, SpaceX reported a loss of nine cents per share, which beat a Street consensus estimate of a loss of 26 cents per share.

A profit for earnings could be a welcome sign for the company and investors and also help SpaceX get into the S&P 500 Index down the road if the profits continue from quarter to quarter.

SpaceX Analyst Ratings

Heading into earnings, several analysts have raised their price targets on SpaceX. Here are some of the latest analyst ratings on SpaceX and their price targets:

• Evercore ISI: Maintained Outperform rating, raised price target from $230 to $275
• Barclays: Initiated with Overweight rating, price target of $254
• TD Cowen: Maintained Buy rating, price target of $200
• Susquehanna: Maintained Neutral rating, raised price target from $144 to $173

Key Items to Watch

As this is only the second quarter of publicly reported financials, there will be a big spotlight on SpaceX ahead of and after third-quarter financial results.

Investors will be closely watching the report and management details for items such as the company's merger, mobile plan ambitions after new spectrum is secured and whether the company will merge with Tesla.

Revenue by segment could be a key area to watch as the company tried to diversify. In the second quarter, space was the smallest segment by revenue, with connectivity leading the way and AI ranking second. The AI segment, which includes social media platform X and the Grok bot, had the highest year-over-year growth, another key area to watch.

The connectivity segment was the only of the three that posted a profit in the second quarter, with AI and Space both losing money for the quarter. This is another key area to watch, especially with analysts predicting an overall quarterly profit for the company.

The company ended the second quarter with a backlog of $47.5 billion. Recent commercial and government wins could increase that total for the end of the third quarter.

SpaceX Stock Price Action

SpaceX stock is up 0.84% to $147.26 on Monday versus a 52-week trading range of $104.83 to $225.64. The stock is down 7.7% year-to-date in 2026. Shares recently surged earlier this month, hitting their highest levels since June, the month of the IPO.

A strong earnings report, backlog and guidance could see shares lift off once again.