Iridium Communications (IRDM) Tops Q2 EPS by 10c ; Provides Outlook

Iridium Communications (NASDAQ: IRDM) reported Q2 EPS of $0.27, $0.10 better than the analyst estimate of $0.17. Revenue for the quarter came in at $201.07 million versus the consensus estimate of $204.01 million.

2024 Outlook and Longer-Term Outlook

The Company reiterated its full-year 2024 outlook and updated its longer-term guidance on net leverage:

Total service revenue growth between 4% and 6% for full-year 2024. Total service revenue for 2023 was $584.5 million.
Full-year 2024 OEBITDA between $460 million and $470 million. OEBITDA for 2023 was $463.1 million.
Cash taxes of less than $10 million per year from 2024 through 2026. We expect that the longer-term cash tax rate will move closer to the statutory rate in 2028.

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

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