Intelsat S. A. (NYSE: I) reported Q4 EPS of ($0.81), $0.13 better than the analyst estimate of ($0.94). Revenue for the quarter came in at $517 million versus the consensus estimate of $500.9 million.

• Fourth quarter revenue of $517 million; full-year 2019 revenue of $2,061 million
• Fourth quarter net loss attributable to Intelsat S.A. of $115 million; full-year 2019 net loss attributable to Intelsat S.A. of $914 million
• Fourth quarter Adjusted EBITDA of $371 million or 72 percent of revenue; full-year 2019 Adjusted EBITDA of $1,481 million or 72 percent of revenue
• Intelsat issues 2020 Guidance

Intelsat’s Chief Executive Officer, Stephen Spengler, said, “We delivered on our 2019 plan, exceeding our guidance for full-year revenue and Adjusted EBITDA. Our fourth quarter results reflect the contributions of our new satellites as well as growing revenue streams generated by our Flex managed services, benefitting our network services business. Our media business signed a significant new direct-to-home television customer contract in Asia, while the government services business achieved important renewals that will support its stability in 2020.

Spengler concluded, “The draft order issued by the Federal Communications Commission on February 7, 2020 was a major event in the C-band proceeding. Our near-term focus is on improving the draft order proposed by the FCC, obtaining changes that would allow us to quickly clear spectrum to support 5G deployments in the U.S. while protecting the video services on which nearly 120 million American homes rely.”

GUIDANCE:

Intelsat S. A. sees FY2020 revenue of $1.93-1.98 billion, versus the consensus of $1.98 billion.

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