Iridium Communications Jump 10% After Q1 Results - Here's Why
Iridium Communications Jump 10% After Q1 Results - Here's Why
Iridium Communications Inc (NASDAQ:IRDM) shares are trading higher on Thursday.
The company reported first-quarter earnings per share of 16 cents, outpacing the Wallstreet estimate of 15 cents. Quarterly revenues of $203.85 million beat the analyst consensus of $193.75 million, driven by strong service revenue growth and subscriber expansion.
Total billable subscribers grew 14% year-over-year to 2.33 million, led by growth in commercial IoT.
Operational EBITDA for the first quarter was $115.0 million, as compared to $111.9 million for the prior-year period, representing a year-over-year increase of 3%.
Net income benefitted from a year-over-year decrease in depreciation expense and continued growth in total commercial services revenue.
Quarterly sales consisted of $148.6 million of service revenue and $55.3 million of revenue related to equipment sales and engineering and support projects.
"Continued strong service revenue growth fueled Iridium's business results in the first quarter," said Matt Desch, CEO, Iridium.
Desch added, "Subscriber growth and demand for Iridium's mission-critical applications are driving new service development and free cash flow."
What's Next?
Iridium Communications reiterated total service revenue growth between 4% and 6% for full-year 2024. Total service revenue for 2023 was $584.5 million.
Full-year 2024 OEBITDA is reaffirmed between $460 million and $470 million. OEBITDA for 2023 was $463.1 million.
The company now expects longer-term cash tax rate will move closer to the statutory rate in 2028.
According to Benzinga Pro, IRDM stock has lost over 53% in the past year. Investors can gain exposure to the stock via ARK Space Exploration & Innovation ETF (BATS:ARKX) and ARK Autonomous Technology & Robotics ETF (BATS:ARKQ).
Price Action: IRDM shares are trading higher by 10.7% to $27.37 on the last check Thursday.
Photo via Shutterstock
Iridium Communications Inc (NASDAQ:IRDM) shares are trading higher on Thursday.
銥星通訊公司（納斯達克股票代碼：IRDM）股價週四上漲。
The company reported first-quarter earnings per share of 16 cents, outpacing the Wallstreet estimate of 15 cents. Quarterly revenues of $203.85 million beat the analyst consensus of $193.75 million, driven by strong service revenue growth and subscriber expansion.
該公司公佈的第一季度每股收益爲16美分，超過了華爾街估計的15美分。受強勁的服務收入增長和用戶擴張的推動，季度收入爲2.0385億美元，超過了分析師共識的1.9375億美元。
Total billable subscribers grew 14% year-over-year to 2.33 million, led by growth in commercial IoT.
在商業物聯網增長的帶動下，可計費用戶總數同比增長14％，達到233萬。
Operational EBITDA for the first quarter was $115.0 million, as compared to $111.9 million for the prior-year period, representing a year-over-year increase of 3%.
第一季度的運營息稅折舊攤銷前利潤爲1.15億美元，而去年同期爲1.119億美元，同比增長3％。
Net income benefitted from a year-over-year decrease in depreciation expense and continued growth in total commercial services revenue.
淨收入受益於折舊費用的同比減少以及商業服務總收入的持續增長。
Quarterly sales consisted of $148.6 million of service revenue and $55.3 million of revenue related to equipment sales and engineering and support projects.
季度銷售額包括1.486億美元的服務收入和與設備銷售以及工程和支持項目相關的5,530萬美元的收入。
"Continued strong service revenue growth fueled Iridium's business results in the first quarter," said Matt Desch, CEO, Iridium.
Iridium首席執行官馬特·德施表示：“持續強勁的服務收入增長推動了Iridium在第一季度的業務業績。”
Desch added, "Subscriber growth and demand for Iridium's mission-critical applications are driving new service development and free cash flow."
Desch補充說：“訂戶的增長和對Iridium關鍵任務應用程序的需求正在推動新服務的開發和自由現金流。”
What's Next?
下一步是什麼？
Iridium Communications reiterated total service revenue growth between 4% and 6% for full-year 2024. Total service revenue for 2023 was $584.5 million.
銥星通信重申，2024年全年總服務收入增長4％至6％。2023 年的總服務收入爲 5.845 億美元。
Full-year 2024 OEBITDA is reaffirmed between $460 million and $470 million. OEBITDA for 2023 was $463.1 million.
2024年全年息稅折舊攤銷前利潤重申在4.6億美元至4.7億美元之間。2023年的OEBITDA爲4.631億美元。
The company now expects longer-term cash tax rate will move closer to the statutory rate in 2028.
該公司現在預計，到2028年，長期現金稅率將接近法定稅率。
According to Benzinga Pro, IRDM stock has lost over 53% in the past year. Investors can gain exposure to the stock via ARK Space Exploration & Innovation ETF (BATS:ARKX) and ARK Autonomous Technology & Robotics ETF (BATS:ARKQ).
根據Benzinga Pro的數據，IRDM的股票在過去一年中下跌了53％以上。投資者可以通過方舟太空探索與創新ETF（BATS: ARKX）和方舟自主技術與機器人ETF（BATS: ARKQ）獲得股票敞口。
Price Action: IRDM shares are trading higher by 10.7% to $27.37 on the last check Thursday.
價格走勢：在週四的最後一次支票中，IRDM股價上漲10.7％，至27.37美元。
Photo via Shutterstock
照片來自 Shutterstock
譯文內容由第三人軟體翻譯。
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