Friday, February 21, 2014

Seeking Alpha: Orbital Sciences Executing Better, But Business Remains Volatile

I liked Orbital Sciences (ORB) back in September, but even I'm surprised at the better than 50% jump in the shares. Successfully completing the first operational Cygnus cargo mission to the International Space Station definitely helped, but so too did solid guidance on revenue and free cash flow for 2013. As the Cygnus program matures, recognized margins should move up and Orbital should unlock significant free cash flow. Risks remain, though, in the company's ability to keep the satellite business moving forward and resolving potential supply issues for the Antares rocket.

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Orbital Sciences Executing Better, But Business Remains Volatile

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