Maxar Technologies Ltd. (MAXR) Tops Q3 EPS by 26c

Maxar Technologies Ltd. (NYSE: MAXR) reported Q3 EPS of $1.32, $0.26 better than the analyst estimate of $1.06. Revenue for the quarter came in at $436 million versus the consensus estimate of $560.3 million.

“We generated solid year-over-year revenue growth this quarter as demand has remained resilient and our customers continue to rely on us for important national security and commercial missions. We also enjoyed significant backlog growth on a diversified set of awards with both government and commercial customers across our Earth Intelligence and Space Infrastructure segments,” said Dan Jablonsky, CEO. “Our results this quarter further reflect progress on our multi-year strategy to position Maxar for sustained revenue, profit and cash flow growth. We are executing well against our strategic priorities for the year while continuing to respond to the global COVID-19 pandemic by focusing on the protection of the health and safety of our team members, families, customers and communities.”

“Our leverage continued to improve this quarter and we ended the quarter with over $500 million in liquidity, which we believe provides ample flexibility to execute on our multi-year growth plan,” stated Biggs Porter, CFO. “Performance in the quarter was solid, with both year-over-year revenue and profit growth on a consolidated basis and positive free cash flow. While the existence of the COVID pandemic remains a risk to our operations and the operations of our customers, we have thus far been able to manage the crisis roughly in line with expectations. Given that, we are maintaining our outlook for 2020 consolidated revenue, Adjusted EBITDA, and Capex, and we are tightening the range of guidance for operating cash flow.”

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

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