Iridium Communications (IRDM) Tops Q4 EPS by 28c

Iridium Communications (NASDAQ: IRDM) reported Q4 EPS of $0.30, $0.28 better than the analyst estimate of $0.02. Revenue for the quarter came in at $194.7 million versus the consensus estimate of $194.35 million.

2024 and Longer-Term Outlook:

The Company issued its full-year 2024 outlook and updated long-term guidance on cash taxes:

• 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 between $460 million and $470 million. OEBITDA for 2023 was $463.1 million.
• Cash taxes of less than $10 million per year from 2024 through 2026. We now expect that the longer-term cash tax rate will move closer to the statutory rate in 2028.
• Net leverage below 2.5 times OEBITDA between 2026 and 2029 and falling below 2.0 times OEBITDA by the end of the decade, assuming the completion of the Company's share repurchase authorization and the payment of quarterly dividends. Net leverage was 3.1 times OEBITDA at December 31, 2023.

For earnings history and earnings-related data on Iridium Communications (IRDM) click here.

You May Also Be Interested In

• Korn Ferry (KFY) Tops Q4 EPS by 2c, Beats on Revenue; Offers Q1 Guidance
• BofA lists top 5 themes driving next $1tn in incremental semi sales
• Carnival shares drop despite earnings beat on weak guidance