Core Insights - Iridium Communications Inc. (IRDM) has partnered with Eutelsat Group's subsidiary Eutelsat America Corp. and OneWeb Technologies Inc. to provide Iridium Certus and Iridium Satellite Time and Location (STL) services to U.S. government clients [1] - The partnership aims to enhance government services with a GNSS-resilient LEO Ku-Band/L-band solution, improving connectivity and remote terminal management capabilities [2] - Iridium's acquisition of Satelles, Inc. has strengthened its STL service offerings, which are crucial in areas lacking GPS or GNSS signals, with a target of achieving $1 billion in annual service revenues by 2030 [3] Group 1: Partnership and Services - EACOWT will deliver Iridium Certus and STL services to U.S. government clients through contracts with the U.S. Space Force [1] - The combination of OneWeb Technologies' satellite network and Iridium's services provides a strong alternative for positioning, navigation, and timing (PNT) information [2] Group 2: Financial Performance and Projections - In Q3 2024, IRDM's total service revenues increased by 5% year over year to $159.9 million, driven by a growing subscriber base [3] - The Iridium STL business is projected to generate over $100 million in service revenue annually by 2030 [3]

Core Viewpoint - Iridium Communications (IRDM) reported a significant improvement in earnings for Q3 2024, with earnings per share (EPS) of 21 cents, surpassing the Zacks Consensus Estimate by 5% and recovering from a loss of 1 cent per share in the same quarter last year [1][2]. Financial Performance - Quarterly revenues reached $212.8 million, reflecting an 8% increase year-over-year, driven by growth in the Commercial service segment and Government Engineering and support services [2][4]. - Total service revenues rose 5% year-over-year to $159.9 million, contributing 75% to total revenues, supported by strong recurring revenues from increased subscriber engagements [3][6]. - Subscriber Equipment revenues increased by 9% to $22.2 million, while Engineering and support revenue surged 22% to $30.7 million due to heightened activity with the U.S. government [4][6]. Operational Metrics - Total operating expenses decreased to $157.9 million from $169.5 million in the prior-year quarter, primarily due to lower depreciation and amortization costs [6]. - Operational EBITDA (OEBITDA) increased by 2.5% year-over-year to $124.4 million, with operating income rising to $54.9 million from $28.2 million in the previous year [6]. Subscriber Growth - As of September 30, 2024, the company had 2,482,000 billable subscribers, an 11% increase from 2,236,000 in the prior-year quarter, with commercial IoT data subscribers growing 14% to 1.9 million [6]. - The commercial sector contributed significantly to subscriber growth, with 2,341,000 billable commercial subscribers, up from 2,094,000 in the previous quarter [6]. Liquidity and Share Repurchase - As of September 30, 2024, total cash and cash equivalents were $159.6 million, with net debt of $1.7 billion [6]. - In Q3 2024, the company repurchased 4.7 million shares worth $128.6 million and announced an additional $500 million share repurchase program through December 31, 2027 [7]. 2024 Outlook - Based on the strong Q3 performance, Iridium revised its full-year 2024 outlook, now expecting total service revenue growth of about 5%, up from the previous guidance of 4-6% [8]. - The company anticipates full-year OEBITDA to be between $465 million and $470 million, an increase from the previous range of $460 million to $470 million [8].

Core Insights - Iridium Communications reported revenue of $212.77 million for Q3 2024, reflecting a 7.7% increase year-over-year and a surprise of +3.45% over the Zacks Consensus Estimate of $205.68 million [1] - Earnings per share (EPS) for the quarter was $0.21, compared to -$0.01 in the same quarter last year, resulting in an EPS surprise of +5.00% against the consensus estimate of $0.20 [1] Revenue Performance - Total revenue from subscriber equipment was $22.17 million, slightly below the estimated $22.54 million, but showing an 8.6% increase year-over-year [1] - Service revenue reached $159.86 million, exceeding the average estimate of $157.10 million, with a year-over-year growth of 5.2% [1] - Engineering and support service revenue was $30.75 million, surpassing the estimate of $25.96 million, marking a significant year-over-year increase of 21.9% [1] Subscriber Metrics - Average Revenue Per User (ARPU) for commercial voice and data was $46, slightly below the estimate of $46.31 [1] - ARPU for commercial IoT data was $7.79, exceeding the estimate of $7.56 [1] - ARPU for commercial broadband was $309, significantly higher than the estimated $280.57 [1] - Total net billable subscriber additions were 69 thousand, below the average estimate of 99.82 thousand [1] Service Revenue Breakdown - Commercial service revenue was $133.31 million, above the estimate of $130.46 million, with a year-over-year increase of 6.3% [1] - Government service revenue was $26.55 million, slightly above the estimate of $26.51 million, reflecting a minimal year-over-year change of 0.2% [1] - Hosted payload and other data service revenue was $16.37 million, exceeding the estimate of $14.67 million, with a year-over-year growth of 9% [1] Stock Performance - Iridium's shares have returned +10.1% over the past month, outperforming the Zacks S&P 500 composite's +3.8% change [1] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [1]

Iridium Communications (IRDM) came out with quarterly earnings of $0.21 per share, beating the Zacks Consensus Estimate of $0.20 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 5%. A quarter ago, it was expected that this satellite phone company would post earnings of $0.19 per share when it actually produced earnings of $0.27, delivering a surprise of 42.11%. Over the last four quart ...

MCLEAN, Va., Oct. 17, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, today reported financial results for the third quarter of 2024 and updated its full-year 2024 outlook. Net income was $24.4 million, or $0.21 per diluted share, for the third quarter of 2024, as compared to net loss of $1.6 million, or $0.01 per diluted share, for the third quarter of 2023. Operational EBITDA ("OEBITDA")(1) for the third quar ...

MCLEAN, Va., Oct. 15, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice and data satellite communications, today announced the Space Development Agency (SDA) has awarded the General Dynamics Mission Systems (GDMS) and Iridium team a $491.6 million contract modification in support of its Ground Management and Integration (GMI) program for the Proliferated Warfighter Space Architecture (PWSA). Of this amount, Iridium's share has a value of $239 million over fi ...

Core Viewpoint - Iridium Communications (IRDM) is expected to report third-quarter 2024 earnings on October 17, with revenue estimates indicating a 4.1% increase year-over-year to $205.7 million and earnings per share estimated at 20 cents, unchanged over the past 60 days [1][2]. Financial Performance - The Zacks Consensus indicates that Iridium's earnings have beaten estimates in two of the last four quarters, with an average surprise of 202.2%. However, the stock has declined by 31.2% over the past year, contrasting with a 1.3% gain in the sub-industry [3]. Revenue Segments - The Service segment is projected to generate revenues of $155.5 million, reflecting a 2.3% increase from the previous year [5]. - Commercial service revenues are anticipated to reach $129 million, marking a 2.8% rise year-over-year, driven by demand in voice and data services, IoT data, and broadband [6]. - Engineering and Support segment revenues are estimated at $27.3 million, an 8.1% increase from the prior year, bolstered by U.S. government contracts [8]. - Subscriber Equipment revenues are expected to be $21.2 million, a 4% increase from the previous year, as demand stabilizes [9]. Recent Developments - On September 25, 2024, Iridium's initiative to enhance Narrowband IoT capabilities was approved by the 3GPP, expanding its global connectivity reach with the upcoming Iridium NTN Direct service [10]. - The company announced a $500 million stock repurchase authorization, the largest in its history, extending total buyback authorization to $1.5 billion through December 31, 2027 [11]. - Iridium introduced the Iridium Certus GMDSS service on September 3, 2024, aimed at improving maritime safety and communication [12].

Wall Street analysts expect Iridium Communications (IRDM) to post quarterly earnings of $0.20 per share in its upcoming report, which indicates a year-over-year increase of 2100%. Revenues are expected to be $205.68 million, up 4.1% from the year-ago quarter. The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period. Ahead of a compa ...

MCLEAN, Va., Oct. 9, 2024 /PRNewswire/ -- Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced its collaboration with Nordic Semiconductor for early integration of its Iridium NTN Direct℠ service into Nordic's LTE-M/NB-IoT modules and chipsets. Nordic Semiconductor is a global leader in low power wireless connectivity solutions including cellular IoT (LTE-M, NB-IoT), Wi-Fi, Bluetooth LE, and Thread and is trusted by world leading b ...

One company that I have a really solid track record with is satellite owner and operator Iridium Communications (NASDAQ: IRDM ). For the most part, from my first article about the company in July of 2015 Crude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential. Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E&P firms, ...