Iridium Communications (IRDM) Reports Q1 Loss Per Share of $0.24, Offers Guidance

Iridium Communications (NASDAQ: IRDM) reported Q1 EPS of ($0.24), may not compare to the analyst estimate of ($0.13). Revenue for the quarter came in at $145.3 million versus the consensus estimate of $141.54 million.

2020 Outlook:

Given the current global shutdown and macroeconomic uncertainties, the Company updated its full-year 2020 outlook and currently anticipates:

• Growth in total service revenue for full-year 2020. Total service revenue for 2019 was $447.2 million.
• Growth in OEBITDA for full-year 2020. OEBITDA for 2019 was $331.7 million.
• Negligible cash taxes in 2020. Cash taxes are expected to be negligible through approximately 2023.
• Net leverage of no more than 4.4 times OEBITDA at the end of 2020. Net leverage was 4.8 times OEBITDA at December 31, 2019.

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

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