Iridium Communications (IRDM) reported earnings per share (EPS) of 30 cents for fourth-quarter 2023, which beat the Zacks Consensus Estimate of earnings of 3 cents. The company reported a loss of 1 cent in the prior-year quarter.Management noted that earnings benefited due to an increase in tax benefits and continued growth in total commercial services. Additionally, the company's expected satellite useful lifetimes have changed, which has resulted in a year-over-year decrease in depreciation expense.Quarte ...

Iridium Communications, Inc. (NASDAQ:IRDM) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET Company Participants Ken Levy - VP, IR Matt Desch - CEO Tom Fitzpatrick - CFO Conference Call Participants Ric Prentiss - Raymond James Simon Flannery - Morgan Stanley Walter Piecyk - LightShed Edison Yu - Deutsche Bank Chris Quilty - Quilty Space Louie DiPalma - William Blair Hamed Khorsand - BWS Financial Operator Good morning and welcome to the Iridium Fourth Quarter 2023 Earnings Conference Call. All ...

Iridium Communications (IRDM) reported $194.74 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 0.5%. EPS of $0.30 for the same period compares to -$0.01 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $193.25 million, representing a surprise of +0.77%. The company delivered an EPS surprise of +900.00%, with the consensus EPS estimate being $0.03.While investors closely watch year-over-year changes in headline numbers -- revenue an ...

Iridium Communications (IRDM) came out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 900%. A quarter ago, it was expected that this satellite phone company would post earnings of $0.03 per share when it actually produced a loss of $0.01, delivering a surprise of -133.33%.Over the last four quart ...

2 IRIDIUM PROPRIETARY BUSINESS INFORMATION Reconciliation of GAAP Net Income to OEBITDA | --- | --- | --- | |--------------------------------|-------|---------| | ($ Millions) | 2022 | 2023 | | GAAP Net Income | $ 9 | $ 6 | | Interest Expense, Net | $ 65 | $ 90 | | Income Tax Benefit | $ 0 | ( $ 16) | | Depreciation & Amortization | $ 303 | $ 320 | | Iridium NEXT Expenses, net | $ 0 | $ 0 | | Share-based Compensation | $ 44 | $ 57 | | Loss on Extinguishment of Debt | $ 1 | $ 0 | | Loss on Equity Investments ...

Extends estimate of useful life of satellites by five years MCLEAN, Va., Feb. 15, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") today reported financial results for the fourth quarter and full-year 2023 and issued its full-year 2024 guidance. Net income was $38.0 million, or $0.30 per diluted share, for the fourth quarter of 2023, as compared to net loss of $0.8 million, or $0.01 per diluted share, for the fourth quarter of 2022. Operational EBITDA ("OEBITDA")(1) for the fourt ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________________________________________ FORM 10-K _____________________________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For th ...

MCLEAN, Va., Jan. 25, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Thursday, February 15, 2024 at 8:30 a.m. Eastern Time (ET) to discuss the Company's fourth-quarter 2023 financial results. In advance of the call on February 15, 2024, Iridium will issue its fourth-quarter 2023 earnings press release, which will be available on the investor relations page of the Company's websi ...

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Iridium Communications (IRDM) has unveiled Project Stardust, marking the evolution of its direct-to-device (D2D) strategy through the development of a 3GPP 5G standards-based Narrowband-Internet of Things (NB-IoT) Non-Terrestrial Network (NB-NTN) service.The solution will be integrated into Iridium's existing satellite network, which will position the company uniquely to deliver both proprietary and standardized D2D and IoT services globally. Iridium's low-Earth orbiting (LEO) satellites present a strategic ...