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SpaceX techs work towards Falcon 9 fairing recovery with wacky series of experiments
Over the course of the past week, Teslarati photographer Pauline Acalin has captured a multitude of unusual occurrences at SpaceX’s Port of Los Angeles dock space, each time involving a Falcon fairing recovery vessel like Mr Steven or NRC Quest, a Falcon fairing half (flight-proven or otherwise), and one of several attenuating circumstances.
More likely than not, what appears as a menagerie of weird and disconnected events on the sidelines is actually a reasonably organized leg of a larger program, in this case focused on experimentation and testing to close the fairing recovery loop and secure Mr Steven’s first successful fairing catch.
From @USCGLosAngeles – A captive carry test involving a helicopter picking an item from a vessel will be conducted 9/20, 11-1300, in the vicinity of San Clemente Island in the San Nicolas Basin. Mariners are requested to maintain a distance of 5NM from the operation. pic.twitter.com/nvy6Wo0IvF
— Marine Exchange (@MXSOCAL) September 19, 2018
The mystery of Catalina Island
Now-iconic fairing recovery vessel (or net-boat, or claw-boat) Mr Steven has been out of commission since late August, at which point SpaceX technicians removed all four of his arms and their eight complementary shock absorber booms towards unknown ends. If SpaceX’s past is any judge, those arms are probably in the process of being upgraded, but it’s impossible to judge thanks to the fact that they have simply disappeared from the Berth 240 docks where they were briefly stored. SpaceX certainly has a way with transporting massive, ungainly objects without stirring a whisper.
Despite lacking arms for more than a month, Mr Steven has still performed a number of sea-trials, ranging from average jaunts a few miles away to a mysterious armless test described in the tweet above. Why exactly Mr Steven was involved in an experiment involving a helicopter “picking an item” – in this case a flight-proven Falcon fairing – off of a vessel while entirely lacking the arms and net he would use to catch said fairing is entirely unclear. Perhaps it was meant to test a datalink or a change to fairing recovery hardware. Whatever transpired, a group of SpaceX technicians certainly flew to Catalina Island and were working alongside or with a Blackhawk helicopter capable of externally carrying up to 3600 kg (8000 lb) of cargo.
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- Shortly after completing the CRS-15 resupply mission, Cargo Dragon C110 is craned from NRC Quest to SpaceX’s Port of San Pedro berth, 08/05/18. (Pauline Acalin)
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- Mr Steven was out and about conducting high-speed maneuvers two days prior, and also joined NRC Quest near Catalina Island on the 20th. (Pauline Acalin)
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- NRC Quest returned to port with a Falcon fairing aboard after a long day doing *something* at sea. (Pauline Acalin)
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- Note the sooty tip of the fairing’s nose, a telltale sign that it previously flew on a Falcon 9 launch. (Pauline Acalin)
Multipurpose recovery vessel NRC Quest – nominally dedicated to Cargo Dragon spacecraft recoveries – returned to SpaceX-leased Berth 240 a few hours after the September 20th test window closed, sooty Falcon 9 fairing half in tow. Still, this certainly isn’t the weirdest Falcon fairing-related activity to occur last week.
Fairings aplenty
Meanwhile, over at Mr Steven’s old berth and drone ship Just Read The Instructions’ current berth, a different Falcon fairing half appeared sometime in the last several days in an unusual state, seemingly either fresh out of the factory or in an advanced state of disassembly. The base of this particular fairing half seems to be entirely missing the usual layer(s) of material (cork, among other things) used to waterproof and act as a lightweight heatshield. A new fairing half sitting out in the elements with zero protection would be exceptionally unusual, as CEO Elon Musk has noted that they each cost several million dollars ($3m to be precise), and exposure outside of a cleanroom could very well prevent this half from ever being operationally flown.
The next best conclusion to be drawn is that this unique fairing half is new or flight-proven (with skin and shielding removed), but sitting at SpaceX’s dock space in order to prepare for one or several active drop tests in pursuit of Mr Steven’s first successful fairing catch. But who really knows, to be honest. The fairing’s bare carbon fiber composite construction is certainly a sight to behold, one way or another.
Doing…something.
This leads us to the grand (perhaps… titanic) finale of wholly unexpected Falcon fairing activities over the last several days. Presumably making the best of an opportunity to test NRC Quest’s ability to recover Falcon fairings after splashdown (i.e. missing Mr Steven’s net), the pictures generally tell the story better than any words ever could. Keep your eyes peeled for Fairing Wrangler job openings.
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- Getting the (un)lucky half into the water. (Pauline Acalin)
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- One lucky dude. (Pauline Acalin)
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- Weeeeeeeeee. (Pauline Acalin)
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- NRC Quest then lifted the fairing half (likely from Iridium-7) aboard. (Pauline Acalin)
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- NRC Quest then lifted the fairing half (likely from Iridium-7) aboard. (Pauline Acalin)
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- This extraordinarily unusual operation lent an opportunity to see just how flexible and structurally optimized SpaceX’s payload fairings are. (Pauline Acalin)
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- After returning from a day at sea doing who-knows-what, Mr Steven’s captain attempted to use the 500 metric ton vessel to splash a fellow recovery tech. A for effort. (Pauline Acalin)
Up next for SpaceX, Mr Steven, and the West Coast recovery crew is SAOCOM-1A, scheduled to launch from California’s Vandenberg Air Force Base on the evening (Pacific Time) of October 6th.
For prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket recovery fleet check out our brand new LaunchPad and LandingZone newsletters!
Tesla (NASDAQ: TSLA) reports its earnings for Q3 today. Here’s what to expect, as the company will reveal its balance sheet after the market closes on Wednesday.
Tesla already reported deliveries just after Q3 ended, and it demolished Wall Street consensus estimates of roughly 462,000 vehicles. Tesla delivered 486,532 cars in the third quarter, which was a big beat, but was down 2.1 percent from the same quarter last year. Energy storage deployments were 13.7 GWh, up year-over-year.
Tesla showrooms picked clean ahead of Q3 end as demand looks strong
For the quarter, analysts have already compiled their predictions for what Tesla will report this afternoon:
- Total Revenues: $28.34B
- Non-GAAP EPS: $0.43
- Operating Margin: 2.5%
- Operating Income: $721M
- Free Cash Flow: ~-$4.51B
Here are a few things we are looking forward to hearing about on the call:
Automotive Gross Margin and Overall Profitability
This was 16.3 percent in Q2, down from 19.2 percent in Q1, and was impacted by warranty charges and some fading regulatory credits. Consensus implies overall gross margin near 18 percent, but a miss here would potentially reinforce concerns about pricing pressure on its vehicles.
Pay attention to energy storage margins as well, especially since Tesla missed GWh expectations, although it was still a strong quarter.
Robotaxi/Cybercab, Unsupervised FSD, and Optimus Progress
The Say questions from retail investors usually focus on these types of projects, and this quarter is no different. Scaling the Cybercab fleet beyond Austin amid the open NHTSA safety review, timeline for Unsupervised FSD in customer cars, Robotaxi unit economics, and Optimus cost per unit plus when it could start generating revenue, are all things to be looking for.
Any concrete timelines or regulatory path details will likely move the stock more than the near-term numbers. SpaceX merger speculation, which was detailed during SpaceX’s earnings call last night, may also surface, although the key details were shared last night.
Elon Musk just confirmed the Tesla and SpaceX merger step everyone was waiting for
Say Investor Questions
- How does the Cybercab fleet scale past Austin, and what’s the regulatory path outside Texas given NHTSA’s open safety review?
- When can we anticipate FSD unsupervised in customer cars?
- When will the CyberCab be available for customer purchase/ownership?
- What’s the unit economics per paid robotaxi mile, and how does it compare to the thirty-cent target?
- Tesla has acknowledged that HW3 vehicles cannot support unsupervised FSD. When will owners know whether they can upgrade their hardware for free, and when will Tesla provide a clear plan?
The full Earnings Call will be streamed this evening after market close around 5 p.m. this evening.
SpaceX confirmed the date of Starship’s 15th launch window with some massive ambitions for the mission, as it will attempt to catch Ship for the first time.
CEO Elon Musk confirmed during SpaceX’s Earnings Call last night on October 20 that it would launch Starship for its 15th test flight in November, and there are some incredible things the company wants to try, making it perhaps the most groundbreaking launch in the program’s history.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
The most major development of the call was SpaceX’s intention to catch Ship alongside catching the Super Heavy Booster, something that has happened in the past. SpaceX showed an animation of the Ship catch, which will be done on the launch tower’s chopsticks:
SpaceX has released a new Starship tower catch animation for the upcoming Flight 15! https://t.co/kStn01Da8u
— Truthful🛰️ (@Truthful_ast) October 20, 2026
This monumental goal is to catch both the Ship and Booster in a dual-catch scenario, an incredible feat since SpaceX has never been able to reuse a Ship after launch. Musk said it would be “the first time that an orbital launch vehicle has been fully recovered,” and said it would be a “profound technology milestone.”
Musk said the odds of success on this first Ship catch attempt are “more likely than not,” but SpaceX is ultimately prepared for more tries moving forward. The SpaceX frontman said that, starting next year, Starship would have a “steady stream” of flights through the end of the year.
The cadence will accelerate in 2027, with Musk stating the company plans to target weekly flights in the first half of 2027 and twice-weekly by year-end.
The Flight 15 attempt follows that of Flight 14, which took off in late September and was Starship’s first orbital mission. It deployed 26 Starlink V3 satellites, accomplished a controlled ocean splashdown of both stages, and shed more light on potential challenges for the program moving forward.
As of now, the Starship program is firing on all cylinders.
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Wall Street analysts rapidly raised price targets on SpaceX (NASDAQ: SPCX) after the company reported a bullish third quarter for 2026 following the market close on October 20. Shares were sent sharply higher in after-hours and premarket trading.
SpaceX posted revenue of $14.6 billion, a 161 percent year-over-year increase that comfortably topped consensus estimates, which fell near $12.7 billion. The company also posted a net profit of $4.4 billion from a prior-year loss, with adjusted EBITDA reaching $8.8 billion.
More price target movement:
🚀 Cantor Fitzgerald lifted its target to $345 from $246 (Overweight).
🚀 Barclays raised its target to $300 from $254 (Overweight).
🚀 Citi increased its target to $240 from $200 (Buy),
🚀 UBS moved to $230 from $210 (Buy)
🚀TD Cowen raised its target to $224 from $200 (Buy).
🚀Morgan Stanley held an Overweight rating with a $300 target.
🚀Other firms also adjusted higher, including Wells Fargo (to $274 from $214) and Clear Street (to $248 from $217). Analysts broadly cited the strong quarterly print, accelerating AI compute expansion, Starlink progress, and Starship milestones as drivers of higher long-term growth and earnings power.— TESLARATI (@Teslarati) October 21, 2026
Its Super Intelligence (AI) division generated roughly $7.6 billion and became the largest revenue contributor, growing nearly 830 percent year-over-year, while the Connectivity segment delivered $5.2 billion on strong subscriber additions that lifted the consumer base to 13.6 million for Starlink.
The Earnings Call proved especially catalytic, as CEO Elon Musk and CFO Bret Johnsen outlined Q1 2027 revenue guidance of $33 billion to $37 billion, which was far above the roughly $22 billion analysts had modeled, alongside fourth-quarter capital-expenditure plans of $35 billion to $40 billion focused on AI compute infrastructure at sites including Memphis and Southaven.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
Management targets 2.5 to 3 gigawatts of nameplate compute capacity by year-end and discussed pathways to 13 gigawatts or more by the end of 2027. Musk described relentless demand from hyperscalers and other customers, with compute pricing supporting payback periods of less than a year and potentially as short as six months.
Additional highlights included Starship’s recent orbital success and V3 satellite deployment, Starlink pricing and enterprise momentum, rapid Grok Bot adoption, spectrum expansion plans, and the formation of special committees to explore a possible combination with Tesla.
These elements prompted a wave of price-target increases:
- JPMorgan more than doubled its target to $500 from $240 while maintaining an Overweight rating.
- Cantor Fitzgerald lifted its target to $345 from $246 (Overweight).
- Barclays raised its target to $300 from $254 (Overweight).
- Citi increased its target to $240 from $200 (Buy),
- UBS moved to $230 from $210 (Buy), and
- TD Cowen raised its target to $224 from $200 (Buy).
- Morgan Stanley held an Overweight rating with a $300 target.
- Other firms also adjusted higher, including Wells Fargo (to $274 from $214) and Clear Street (to $248 from $217). Analysts broadly cited the strong quarterly print, accelerating AI compute expansion, Starlink progress, and Starship milestones as drivers of higher long-term growth and earnings power.
Shares, which closed at $147.79 on October 20, jumped roughly 8 percent in early premarket trading on October 21 as investors digested the results and the newly elevated Street targets.
The average analyst price target has moved higher, which reflects greater conviction in SpaceX’s trajectory across launch, connectivity, and the Super Intelligence business, even as elevated spending remains a point of focus.
Tesla reports Q3 Earnings today: here’s what to expect
SpaceX confirms Starship 15 launch window with massive ambitions
SpaceX stock gets a slew of price target boosts after bullish earnings call
SpaceX reveals how its 1 Million AI satellite network will work and prevent space collisions
Tesla Roadster: Three configs, one can fly, 0-60 in 0.8 seconds
