York Space Systems Lowers Revenue Guidance Amid Rising Backlog
On August 13, York Space Systems (NYSE:YSS) reported a strong performance in execution but revised its full-year revenue guidance downward by $180 million at the midpoint. The satellite manufacturer successfully launched additional spacecraft and secured new government contracts while acquiring two companies to expand capabilities. Despite these achievements, management cited supply chain delays and changes in federal procurement methods as reasons for the reduced outlook. The company's backlog increased to $592 million by June 30, reflecting growing demand from both commercial clients and national security projects. York also highlighted a robust pipeline of potential contracts worth over $11 billion across multiple customers. However, revenue expectations were slashed due to delayed bookings and ongoing operational costs. The guidance cut has led some hedge funds to reduce their positions in the stock, though short interest remains moderate at 7.84% of shares outstanding.
Tickers: $YSS