Iridium Communications (NASDAQ: IRDM) reported Q3 EPS of ($0.03), $0.08 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $151.5 million versus the consensus estimate of $138.12 million.

2020 Outlook

The Company updated its full-year 2020 outlook for total service revenue, OEBITDA and net leverage. The Company now expects:

• Total service revenue growth of approximately 3% for full-year 2020. (Previous outlook was for total service revenue growth between 1% and 2%). Total service revenue for 2019 was $447.2 million.
• Full-year 2020 OEBITDA of approximately $355 million. (Previous outlook was for OEBITDA of approximately $340 million). 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 approximately 4.0 times OEBITDA at the end of 2020. (Previous outlook was for net leverage of approximately 4.3 times OEBITDA). Net leverage was 4.8 times OEBITDA at December 31, 2019.

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