Iridium Communications (IRDM) Tops Q4 EPS by 2c

Iridium Communications (NASDAQ: IRDM) reported Q4 EPS of ($0.06), $0.02 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $146.5 million versus the consensus estimate of $139.93 million.

2021 Outlook:

• The Company issued its full-year 2021 outlook and reiterated other elements of long-term guidance:
• Total service revenue growth of approximately 3% for full-year 2021.
• Full-year 2021 OEBITDA between $365 million and $375 million. OEBITDA for 2020 was $355.6 million.
• Negligible cash taxes in 2021. Cash taxes are expected to be negligible through approximately 2023.
• Net leverage of below 3.5 times OEBITDA at the end of 2022, assuming $300.0 million in share repurchases. Net leverage was 3.9 times OEBITDA at December 31, 2020.

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

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