Maxar Technologies Ltd. (MAXR) Tops Q2 EPS by 17c, Beats on Revenues; Offers FY18 EPS Outlook Above Consensus

Maxar Technologies Ltd. (NYSE: MAXR) reported Q2 EPS of $1.22, $0.17 better than the analyst estimate of $1.05. Revenue for the quarter came in at $578.9 million versus the consensus estimate of $555.29 million.

Highlights from the quarter include:

• Consolidated revenues of $578.9 million
• Net loss under IFRS of $18.6 million and net loss per share of $0.33
• Adjusted EBITDA of $171.2 million and adjusted EBITDA margin of 29.6 percent
• Adjusted earnings of $69.9 million and adjusted earnings per share of $1.22

"We delivered solid results in the quarter driven by higher revenue and improved margins in our Imagery segment, and we secured a key win in our Services business that provides improved visibility on future growth. After the quarter ended, we also announced that the company's Space Systems segment was part of a team that has been awarded a design and risk management contract for a large low earth orbit (LEO) constellation," stated Howard L. Lance, President & Chief Executive Officer. "We are reaffirming our full year 2018 guidance for revenue, cash flow from operations and our full-year adjusted EPS outlook. We remain focused on delivering solid financial results throughout the year," he added. "Maxar is unique, at the nexus of the new space economy, with four leading commercial business brands. Our diversification strategy is working as evidenced by recent wins, we are delivering on the cost synergies from the DigitalGlobe acquisition, and we are making progress on the long-term strategic and financial objectives for growth laid out at the Company's inaugural investor days hosted in March 2018."

2018 Financial Outlook

• Revenue decline of 2% to 4%
• Adjusted Segment EBITDA margins of ~33% (excluding corporate expense)
• Adjusted EPS expected near the top end of $4.65 to $4.85 range
• Adjusted cash flow from operations of $300M to $400M

GUIDANCE:

Maxar Technologies Ltd. sees FY2018 EPS of $4.65-$4.85, versus the consensus of $4.48.

For earnings history and earnings-related data on Maxar Technologies Ltd. (MAXR) click here.

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