Telesat Shares Surge After Earnings Surprise, 2024 Guidance Remains Strong
Telesat Shares Surge After Earnings Surprise, 2024 Guidance Remains Strong
EPS was C$2.45, down from C$10.05 year-over-year, but above the consensus estimate of C$1.71.Telesat (NASDAQ:TSAT) shares are rising following the company's stronger-than-expected second-quarter 2024 results.
Telesat（纳斯达克：TSAT）的股票价格正在上涨，因为该公司公布了2024年第二季度比预期强劲的业绩。
Telesat reported a consolidated revenue decline of 15.2% year-over-year to C$152.44 million, beating the consensus estimate of C$141.15 million. The revenue decrease was due to reduced services and lower rates on a renewed agreement with a North American TV customer.
Telesat报告称，从去年同期的C$1,521.4万下降了15.2%的营收，超过了C$1,411.5万的共识估计。由于服务减少和与北美电视客户续约的利率降低，营收下降了。
Quarterly operating income was C$61.66 million, down from C$422.973 million, with a margin of 40.5%.
季度营业收入为C$6,166万，下降了C$42,297.3万，利润率为40.5%。
EPS was C$2.45, down from C$10.05 year-over-year, but above the consensus estimate of C$1.71.
每股收益为C$2.45，低于去年同期的C$10.05，但高于C$1.71的共识估计。
Telesat's net income for the quarter was C$129 million, down from C$519 million last year, mainly due to C-band clearing income in 2023 and losses from foreign exchange rate changes on U.S. dollar-denominated debt.
Telesat本季度的净利润为C$12900万，低于去年的C$51900万，主要由于2023年C波段清理收入以及美元计价债务外汇汇率变化造成的损失。
Adjusted EBITDA declined 25.5% year-over-year to C$103.303 million, with the margin contracting by 936 basis points to 67.8%.
调整后的EBITDA同比下降25.5%，至C$1,0330.3万，利润率收缩了936个基点至67.8%。
Net cash provided by operating activities for the six months ended June 30 totaled C$66.40 million, down from C$102.349 million.
截至6月30日的六个月内，经营活动净现金流为C$6640万，低于C$10234.9万。
"We remain on track to meet our 2024 guidance and, as a result of our continued disciplined execution, delivered industry-leading Adjusted EBITDA margins, high capacity utilization, a substantial contractual backlog of C$1.1 billion, and a cash balance of C$1.4 billion," said Dan Goldberg, Telesat's President and CEO.
Telesat的总裁兼首席执行官丹·戈德伯格（Dan Goldberg）表示：“我们仍在按计划实现2024年指引，并由于我们持续的纪律性执行，在行业领先的调整后的EBITDA利润率、高容量利用率、C$1.1亿的实质性合同积压和C$1.4亿的资金余额方面获得了成功。”
"Our focus this year remains twofold. First, in our geostationary activities, we aim to maximize our Adjusted EBITDA and cash flow by mitigating anticipated revenue declines and rigorously managing our legacy cost structure. Second, we are moving forward expeditiously with the implementation and deployment of Telesat Lightspeed as we finalize the definitive documentation for the Government of Canada and Government of Quebec funding for the program," added Goldberg.
戈德伯格补充道：“我们今年的重点仍是双重的。首先，在我们的地球同步轨道活动中，我们的目标是通过缓解预计的收入下降和严格管理我们的传统成本结构来最大化我们的调整后的EBITDA和现金流。其次，我们正在迅速推进Telesat Lightspeed的实施和部署，因为我们正在为该计划的加拿大政府和魁北克政府资金最后文本文件进行最终的核准。”
2024 Outlook: Telesat expects revenues to be between C$545 million and C$565 million versus C$562 million; Adjusted EBITDA is expected to be between C$340 million and C$360 million.
2024年展望：Telesat预计收入将在C$5,4500万到C$5,6500万之间，预计调整后的EBITDA将在C$3,4000万至C$3,6000万之间。
The company anticipates cash flows used in investing activities to be in the range of C$1 billion to C$1.4 billion, nearly all related to expected Telesat Lightspeed capital expenditures.
该公司预计，在C$10亿至C$14亿的范围内投入用于投资活动的现金流，几乎全部与预期的Telesat Lightspeed资本支出有关。
Price Action: TSAT shares are trading higher by 8.48% at $9.08 at last check on Wednesday.
周三最后一次检查时，TSAT的股票价格上涨了8.48%，至9.08美元。
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