Beta Technologies falls after soft quarter
BETA•Shares fall after second-quarter loss and wider EBITDA loss
Shares of aerospace and defense firm Beta Technologies BETA.N were down about 7% early on Wednesday.
The electric aircraft maker posted a second-quarter loss of 64 cents a share, versus analysts' forecast for a loss of 60 cents, per LSEG.
Adjusted EBITDA loss in the quarter came in at $109.8 million, while analysts had modeled an EBITDA loss of $106.2 million.
The mean earnings estimate of analysts had risen by about 8.8% in the last three months.
The company increased 2026 revenue to be in the range of $42 million to $50 million and updated full-year adjusted EBITDA loss to be $400 million to $445 million.
BETA snapped a 9-day winning streak in which the stock surged 45%.
The stock fell as much as $3.94 to $20.65 on the session; Wall Street's median 12-month price target is $32 and the average rating is "strong buy".
