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CNBC
20 minutes ago
- CNBC
Household robots are about to get a big price cut — if China's top 'robovac' player has its way
BEIJING — Household robots for cleaning are about to quickly become an affordable reality. At least that's what Quan Gang, president of Beijing-based robot vacuum cleaner company Roborock, has in mind as he strategizes for the next five years. The company ranks first among smart vacuums by global market share, according to IDC Research. Last week, it reported a nearly 79% revenue surge in the first half of this year. About half of sales came from outside China. In an exclusive interview with CNBC on Wednesday, Quan predicted that human-like robots will become part of many households by 2030, thanks largely to advances in generative artificial intelligence. And before then, he expects, Roborock can make its latest, high-end cleaner with an AI-powered robotic arm so cheap that the mass market will be able to buy it — for at most a few hundred U.S. dollars. "If we only focus on the premium segment, in the end, other than being the best robotic vacuum cleaner company in the world, we will have nothing," Quan said in Mandarin, translated by CNBC. He noted that robot vacuums still don't have a very high household penetration rate. China, the largest market for the robot vacuums by value, has a penetration rate of only 5.6%, while the United States, the second-largest market, has a 22% penetration rate, according to Euromonitor estimates for 2025. The firm predicts penetration in the U.S. will tick up to 24.1% over the next two years, and edge down to 5.5% in China. Competition in the robotic vacuum + robotic arm category heated up earlier this year at the U.S. Consumer Electronics Show, with Roborock and at least two other Chinese competitors releasing demos. The AI-powered arm removes obstacles from the cleaner's path as it rolls autonomously around the house. So far, only Roborock has started selling one, called the Saros Z70 — but with a hefty price tag of around $2,600 on The site shows 141 reviews and a 4.6 rating. Roborock did not share specific sales figures. Initial reviews of the Saros Z70 from U.S. tech sites such as Mashable and Wired weren't impressed, especially given the price, but hoped for more capable versions in the near future. Both recommended that consumers stick with the more traditional Roborock Saros 10R — which retails for $1,600. Robot vacuum cleaner companies should develop products that "bridge cutting-edge technologies and mainstream price points to accelerate adoption," said Jin Liu, senior analyst of small appliances at Euromonitor International. But even if the price comes down, it would only be a small step toward having a robot help with cooking and other household chores. Vacuum cleaners are the "only successful application [of robots] in our homes to date," said Jeff Burnstein, president of the Association for Advancing Automation (A3). "This is after four decades of talking about how we're going to have robots in our home." "What made the [robot] vacuum cleaner so successful is it didn't cost that much," he said. For the same thing to happen for humanoids to enter homes, he said, there needs to be a compelling quality for the price. Humanoids, such as those from Chinese startup Unitree, still cost tens of thousands of U.S. dollars and don't have clear household use cases yet. Despite its mass market ambitions, Roborock said that because of tariffs, it had to raise the Saros Z70 price by $700 from the original $1,899. Quan said Roborock started working with suppliers late last year in Vietnam, where he said the company can fulfill all its North American orders. Looking ahead, he said the company is considering global supply chain partnerships, but not necessarily to invest in building its own factories. Roborock's plans for a Hong Kong listing are primarily to raise capital for international expansion, Quan said, noting the company is also expanding beyond vacuums. Despite Roborock's 79% revenue surge, the company more than doubled its spending, largely on research and development, steepening the company's losses in the first half of the year. Quan said the company has hired nearly 100 AI experts this year and is still hiring — with an eye to add a total of nearly 200 AI experts this year. He said many of the new hires have overseas education or work experience. The company built a dedicated AI lab in Shanghai and a research institute in Shenzhen, soon after Roborock's founding in 2014. When asked about computing power, Quan said there are many solutions and that buying Nvidia chips aren't the only option. As for improving the AI-powered robotic arm and making it cheaper, "the challenge lies primarily with the algorithm and data," he said, not the hardware. As AI becomes more critical for household robots, Quan has an even bigger vision. "If this robot in your home needs to clean, then it will have to integrate the cleaning knowledge that Roborock has accumulated over the years in algorithms, models, data and training," he said. "Then it can be installed onto the robot like an app." "This robot may be Tesla's, or Unitree's, or someone else's, ... but in the area of cleaning, it will be inseparable from Roborock," he said, claiming the company has the best data on cleaning tasks. Another company might have the best data for robots to cook, he said. The humanoid market will likely reach $5 trillion by 2050, with $800 billion in China alone, according to Morgan Stanley estimates. "With humanoids, if they can't do more than one thing, then they're competing against an existing form factor that can do one thing very well," Burnstein said. But ne noted companies around the world expect there's a big market for safe, affordable humanoids that can cook, clean, help the elderly and do other things. "We're not there yet with the technology, but maybe we'll get there and maybe that multitasking would be the differentiator potentially," he said. "So you wouldn't need 5 robots. You might just need one."
Yahoo
38 minutes ago
- Yahoo
Lockheed (LMT) Up 6.3% Since Last Earnings Report: Can It Continue?
A month has gone by since the last earnings report for Lockheed Martin (LMT). Shares have added about 6.3% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Lockheed due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Lockheed Beats on Q2 Earnings, Lowers '25 EPS View Lockheed Martin Corporation reported second-quarter 2025 adjusted earnings of $7.29 per share, which beat the Zacks Consensus Estimate of $6.49 by 12.3%. The bottom line increased 2.5% from the year-ago quarter's reported figure of $7.11. Including one-time items, the company reported GAAP earnings of $1.46 per share, lower than the prior-year quarter's recorded earnings of $6.85. The year-over-year deterioration in earnings was mainly due to lower consolidated operating profit generated in the second quarter of 2025 compared to the prior-year quarter. Operational Highlights of Lockheed Net sales were $18.16 billion, which missed the Zacks Consensus Estimate of $18.56 billion by 2.2%. The top line, however, inched up 0.2% from $18.12 billion reported in the year-ago quarter. The year-over-year improvement was driven by higher sales growth registered by LMT's business segments, except Rotary and Missions Systems. LMT's Backlog LMT's backlog as of June 29, 2025, was $166.53 billion compared with $172.97 billion as of March 30, 2024. Our model projected a backlog worth $174.48 billion for the second quarter of 2025. The Aeronautics segment accounted for $52.17 billion of the total backlog amount, while the Missiles and Fire Control segment contributed $40.25 billion. The Rotary and Mission Systems segment contributed $38.58 billion, while the Space unit accounted for $35.53 billion. Lockheed's Segmental Performance Aeronautics: Sales increased 2% year over year to $7.42 billion. This rise was driven by higher sales volume from the F-35 program. The segment incurred an operating loss of $98 million against operating profit worth $751 million in the year-ago quarter. The operating loss margin was 1.3% against the prior-year quarter's operating profit margin of 10.3%. Missiles and Fire Control: Quarterly sales improved a solid 10.7% year over year to $3.43 billion. This was on account of higher sales from tactical and strike missile programs. The segment's operating profit increased 6.4% year over year to $479 million. The operating margin, however, contracted 50 basis points (bps) to 14%. Space: The top line improved 3.5% year over year to $3.31 billion, driven by higher sales from commercial civil space programs, primarily the Orion program, as well as higher sales volume for strategic and missile defense programs. The segment's operating profit increased 4.6% to $362 million. The operating margin also expanded 10 bps to 10.9%. Rotary and Mission Systems: Quarterly revenues declined 12.2% to $4 billion on a year-over-year basis, due to lower sales from Sikorsky helicopter programs, reduced production volume for Seahawk programs as well as lower volume for integrated warfare systems and sensors (IWSS) programs. The segment incurred an operating loss of $172 million against operating profit worth $495 million in the second quarter of 2024. The operating loss margin was 4.3% against an operating profit margin of 10.9% in the year-ago quarter. Financial Condition of LMT Lockheed's cash and cash equivalents totaled $1.29 billion as of June 29, 2025, compared with $2.48 billion at the end of 2024. Cash from operating activities amounted to $1.61 billion as of June 29, 2025, compared with $3.51 billion a year ago. Long-term debt as of June 29, 2025, totaled $18.52 billion, down from $19.63 billion as of Dec. 31, 2024. Lockheed's 2025 Guidance The company partially updated its 2025 guidance. Lockheed still expects to generate sales in the range of $73.75-$74.75 billion in 2025. The Zacks Consensus Estimate is pegged at $74.32 billion, which lies above the midpoint of the company's sales guidance. However, LMT has lowered its adjusted earnings per share (EPS) guidance. The company now expects to generate adjusted EPS in the range of $21.70-$22.00 compared to the earlier guidance of $27.00-$27.30. The consensus estimate is currently pegged at $27.21 per share, which lies much above the company's newly guided range. Lockheed still expects to generate cash from operations in the range of $8.50-$8.70 billion. It also continues to expect capital expenditure of approximately $1.90 billion. Lockheed still expects to generate a free cash flow in the range of $6.60-$6.80 billion. How Have Estimates Been Moving Since Then? Since the earnings release, investors have witnessed a downward trend in estimates review. VGM Scores Currently, Lockheed has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Lockheed has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Performance of an Industry Player Lockheed is part of the Zacks Aerospace - Defense industry. Over the past month, GE Aerospace (GE), a stock from the same industry, has gained 1.2%. The company reported its results for the quarter ended June 2025 more than a month ago. GE reported revenues of $10.15 billion in the last reported quarter, representing a year-over-year change of +23.4%. EPS of $1.66 for the same period compares with $1.20 a year ago. GE is expected to post earnings of $1.45 per share for the current quarter, representing a year-over-year change of +26.1%. Over the last 30 days, the Zacks Consensus Estimate has changed -1%. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #1 (Strong Buy) for GE. Also, the stock has a VGM Score of F. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lockheed Martin Corporation (LMT) : Free Stock Analysis Report GE Aerospace (GE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
CNBC
an hour ago
- CNBC
Stock futures are little changed ahead of Powell's Jackson Hole speech: Live updates
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 21, 2025. Brendan McDermid | Reuters U.S. stock futures were little changed Thursday night ahead of Federal Reserve Chair Jerome Powell's speech at Jackson Hole on Friday. Investors will be seeking clues on the path forward for monetary policy. Dow Jones Industrial Average futures rose 65 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures each added about 0.1%. Intuit shares dropped roughly 6% in extended trading even after the maker of TurboTax and QuickBooks posted fiscal fourth-quarter results that topped Wall Street's expectations. Zoom Communications shares gained 5% after the company reported second-quarter results that exceeded expectations. Wall Street is coming off a losing session, with the S&P 500 posting a fifth straight day of declines. The broad-market index fell 0.4%, while the Nasdaq Composite slid 0.34%. The Dow Jones Industrial Average fell 152.81 points, or 0.34%. Investors are looking forward to Powell's speech at the central bank's annual economic symposium in Jackson Hole, Wyo., hoping to gain clarity on the interest rate outlook. Markets were last pricing in a 75% chance of a quarter-point cut at the September meeting, according to the CME FedWatch tool. Recently, the prospect of lower interest rates helped bolster parts of the market that have missed out on this year's rally, with investors dumping megacap tech for small caps and value plays. However, a more hawkish outlook from Powell could throw cold water on the market. In his speech, Powell will have to outline a path forward for the monetary policy while balancing both sides of his dual mandate. "I think the Fed and what Powell is going to try to articulate and communicate is an explanation and a justification for the Fed to start a process of cutting interest rates starting in September," Morgan Stanley Investment Management's Jim Caron said Thursday on CNBC's "Closing Bell." "And I think that should be supportive for markets." That could determine the direction of the near-term outlook for a stock market that's come under pressure. As of Thursday's close, all three major averages were headed for a losing week. The S&P 500 is off 1.2% week to date, while the Nasdaq is down 2.4%. The 30-stock Dow is on pace for a roughly 0.4% slide. On the other hand, S&P 500 Equal Weight Index is virtually unchanged on the week. Stock futures opened little changed Thursday night. Dow Jones Industrial Average futures rose 65 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures each added about 0.1%. — Sarah Min
