ViaSat (VSAT) Tops Q2 EPS by 59c; offers outlook

ViaSat (NASDAQ: VSAT) reported Q2 EPS of $0.09, $0.59 better than the analyst estimate of ($0.50). Revenue for the quarter came in at $1.14 billion versus the consensus estimate of $1.15 billion.

OUTLOOK

For FY2026, we continue to expect low single digit YoY revenue growth and flattish YoY Adjusted EBITDA.
o We continue to expect Communication Services segment FY2026 revenue performance to be flat compared to FY2025, driven by low double-digit growth in aviation services, offset by a
lower rate of declines in FS&O.
o We continue to expect Defense and Advanced Technologies segment FY2026 YoY revenue
growth in the mid-teens, driven primarily by strong double-digit growth in both information
security and cyber defense and space and mission systems.
• We now expect net debt relative to LTM Adjusted EBITDA to decrease modestly by the end of FY2026.
• In FY2026, we continue to expect capital expenditures of approximately $1.2 billion, consistent with our prior guidance (which includes approximately $400 million for Inmarsat related capital expenditures).
• We continue to expect another year of double-digit operating cash flow growth with the timing
of satellite-related capital expenditures concentrated in the second half of the fiscal year. Once
beyond those payments, we expect to return to free cash flow generation and expect positive
free cash flow for FY2027.

For earnings history and earnings-related data on ViaSat (VSAT) click here.

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