Telesat Q2 revenue falls 30%, adjusted EBITDA down 43%
Overview
Telesat Q2 revenue falls 30% yr/yr, impacted by lower contract renewals
Adjusted EBITDA for Q2 declines 43%, reflecting reduced customer services
Net income for Q2 decreases, affected by lower revenue and debt repurchase gains
Outlook
Telesat expects 2025 revenue between C$405 mln and C$425 mln
Company forecasts 2025 adjusted EBITDA between C$170 mln and C$190 mln
Telesat plans 2025 capital expenditures of C$900 mln to C$1.1 bln
Company focuses on expanding backlog in enterprise, aviation, maritime, government
Result Drivers
CONTRACT RENEWALS - Revenue decline primarily due to lower renewal rates with North American direct-to-home TV customers
SERVICE REDUCTIONS - Decreased services for Indonesian rural broadband and another North American direct-to-home customer contributed to revenue drop
LEO CONSULTING - Lower LEO consulting revenues also impacted overall revenue performance
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| C$106 mln |
|
Q2 Net Income |
| C$76 mln |
|
Q2 Adjusted EBITDA Margin |
| 55.3% |
|
Q2 Operating Expenses |
| C$51 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
Press Release: ID:nGNXjXgyZ
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