Iridium Communications (NASDAQ: IRDM) reported Q2 EPS of ($0.06), $0.02 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $134.9 million versus the consensus estimate of $120.53 million.

"We delivered another strong quarter with excellent subscriber additions and revenue growth across all commercial revenue lines," said Matt Desch, CEO, Iridium. Desch continued, "based upon sales momentum and the strong subscriber trends in the first half of the year, we are raising our full-year guidance for total service revenue and operational EBITDA."

Commenting on Iridium® NEXT, Desch said, "With three successful launches this year, we now have 65 Iridium NEXT satellites in orbit and expect to complete the launch program in the coming months. We anticipate that the new constellation will be fully deployed this year and begin delivering superior L-band broadband through our new Iridium CertusSM service."

2018 Outlook

The Company raised its full-year 2018 outlook for total service revenue growth and OEBITDA. The Company now expects:

• Total service revenue growth between 12% and 14% for the full-year 2018 (previous outlook was between 10% and 12%).
• Full-year 2018 OEBITDA between $290 million and $300 million (previous outlook was between $280 million and $290 million). OEBITDA for 2017 was $265.6 million.

Long-Range Outlook

The Company updated its long-range outlook for peak net leverage, while affirming its guidance for total service revenue growth, OEBITDA margin, cash taxes and 2019 net leverage. Based on the expected 2018 Iridium NEXT system completion, the Company expects:

• Total service revenue of approximately $440 million for the full-year 2019.
• OEBITDA margin of approximately 60% in 2019.
• Negligible cash taxes through approximately 2020.
• Peak net leverage of approximately 6.0x OEBITDA in 2018.
• Net leverage of approximately 4.5x OEBITDA in 2019.

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