Echostar Corporation (SATS) Tops Q3 EPS by 20c, Revenues Beat

Echostar Corporation (NASDAQ: SATS) reported Q3 EPS of ($0.19), $0.20 better than the analyst estimate of ($0.39). Revenue for the quarter came in at $4.73 billion versus the consensus estimate of $470.15 million.

• Consolidated revenues of $472.3 million.
• Consolidated net loss of $21.1 million, consolidated net loss attributable to EchoStar common stock of $18.3 million, and diluted loss per share of $0.19.
• Consolidated Adjusted EBITDA of $148.3 million (see discussion and the reconciliation of GAAP to this non-GAAP measure below).

"I am pleased with our performance in the third quarter of 2019," commented Michael Dugan, CEO and President of EchoStar. "On September 10th, we completed the spin-off to DISH of the BSS business and ancillary assets and liabilities in exchange for DISH shares that were distributed to EchoStar shareholders. As a result, the BSS business has been presented as discontinued operations in our current financial results. We can now focus on the growing broadband market, additional satellite opportunities, and strategic investments. We grew our consumer subscriber base by approximately 22,000 driven by our international markets and launched a consumer service in Mexico on October 1st. Our North American capacity is relatively full with the EchoStar 24/J3 satellite scheduled for launch in 2021. We continue to work to complete our previously announced JVs with Yahsat in Brazil and Bharti Airtel in India and also announced the acquisition of Helios Wire Corporation on October 25th. The Helios acquisition lays the foundation for the creation of worldwide S-band capabilities."

For earnings history and earnings-related data on Echostar Corporation (SATS) click here.

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• Nike names former Pfizer CFO David Denton as new finance chief
• Worthington Industries (WOR) Misses Q4 EPS by 9c