Satellite TV giant DirecTV called off its deal with Charlie Ergen’s EchoStar to acquire rival Dish TV and other assets. The deal would have created one of the largest pay TV distributors in the country with a combined 20 million subscribers. As part of the deal, DirecTV was set to pay EchoStar $1 for the pay TV buisness called Dish DBS, which included Dish and Sling, as well as the assumption of about $9.75 billion of Dish’s debt.In addition, Dish bondholders had to agree to exchange their debt for new debt ...

$6.5M Contract Will Support Open RAN with a RAN Intelligent Controller (RIC) Experimentation for U.S. Department of DefenseDENVER, Nov. 19, 2024 /PRNewswire/ -- EchoStar Corporation, (Nasdaq: SATS) today shared that its subsidiary Hughes Network Systems, LLC, was awarded a $6.5 million contract to deploy a 5G Open Radio Access Network (ORAN) prototype at Fort Bliss in El Paso, Texas. The network will feature a RAN Intelligent Controller (RIC), which will allow the U.S. Department of Defense (DoD) to test RI ...

Partnership builds on decade-long relationship with 4-H to inspire young people's interest in STEM through engaging, high quality educational content GERMANTOWN, Md., Nov. 14, 2024 /PRNewswire/ -- Hughes Network Systems, LLC, an EchoStar company (Nasdaq: SATS), today announced a partnership with National 4-H to provide local 4-H, Boys & Girls Clubs, Inc, and YMCA locations based in rural and underserved communities throughout America with STEM Challenge kits. These STEM Challenge kits include innovative han ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the ...

Core Viewpoint - EchoStar Corporation (SATS) reported a wider non-GAAP loss in Q3 2024 compared to the previous year, missing consensus estimates significantly [1][2]. Financial Performance - The company reported revenues of $3.9 billion for the quarter, a decrease of 5% year over year, and missed the consensus mark by 1.5% [2]. - The non-GAAP loss was 52 cents per share, compared to a loss of 51 cents in the prior-year quarter, which was 85.7% wider than the Zacks Consensus Estimate of a loss of 28 cents [1][2]. - Operating income before depreciation and amortization (OIBDA) was $316.7 million, down from $365.9 million in the year-ago quarter [8]. Subscriber Metrics - Pay-TV segment revenues decreased by 6.7% year over year to $2.62 billion, with a net decline of approximately 43,000 subscribers, an improvement from the loss of 64,000 subscribers in the previous year's quarter [3][4]. - The total number of pay-TV subscribers is now 8.03 million, including 5.89 million DISH TV and 2.14 million SLING TV customers [4]. - Retail Wireless ended the quarter with 6.98 million subscribers, reporting net sales of $896 million, a slight increase of 0.5% year over year [5]. - Broadband and Satellite Services revenues were $386.7 million, down from $413 million in the prior-year quarter, with a net loss of 43,000 subscribers [6]. Segment Performance - The Retail Wireless segment experienced a net decrease of nearly 297,000 subscribers, compared to a decline of 225,000 in the year-ago period, attributed to reduced churn rates [5]. - OIBDA for Broadband and Satellite Services was $77.5 million, down 31.4% year over year, while OIBDA loss for Retail Wireless improved to $90.8 million from a loss of $105.6 million in the prior-year period [9]. - Net sales from 5G Network Deployment increased to $43.2 million from $29.9 million a year ago [7]. Balance Sheet - As of September 30, 2024, SATS had total cash and cash equivalents of $622.6 million, up from $419.2 million as of June 30, 2024 [10]. - For the nine months ended September 2024, SATS generated $1.2 billion of cash from operating activities, compared to $2.02 billion in the year-ago period [10].

Core Points - DirecTV is terminating its acquisition of Dish assets due to bondholders rejecting the proposed debt offer [2][3][4] - The acquisition was contingent on a successful exchange of Dish's debt, which did not occur [2][3] - DirecTV was set to assume approximately $10 billion in Dish debt and pay $1 for Dish DBS, which includes Dish and Sling TV [3] Financial Implications - The rejection of the revised offer by bondholders, who represent a significant portion of Dish's creditor base, puts Dish in a precarious financial situation [4] - EchoStar, Dish's parent company, reported disappointing earnings, leading to a nearly 13% drop in its shares [4]

Core Insights - EchoStar reported $3.89 billion in revenue for Q3 2024, marking an 842% year-over-year increase, but the EPS was -$0.52 compared to $0.15 a year ago, indicating a significant decline in profitability [1] - The revenue fell short of the Zacks Consensus Estimate of $3.95 billion by 1.47%, and the EPS also missed the consensus estimate of -$0.28 by 85.71% [1] Revenue and Subscriber Metrics - SLING TV added a net of 145 thousand subscribers, exceeding the average estimate of 125 thousand [3] - Pay-TV lost a net of 43 thousand subscribers, better than the average estimate of -52.5 thousand [3] - Revenue from Pay-TV was $2.62 billion, slightly below the average estimate of $2.69 billion [3] - Retail Wireless revenue was $895.95 million, compared to the average estimate of $925 million [3] - Revenue from Eliminations was -$52.93 million, worse than the average estimate of -$17.64 million [3] - Broadband and Satellite Services revenue was $386.71 million, surpassing the average estimate of $371.59 million [3] - Revenue from 5G Network Deployment was $43.23 million, significantly lower than the average estimate of $67.16 million [3] Stock Performance - EchoStar shares have returned +3.9% over the past month, outperforming the Zacks S&P 500 composite's +3.3% change [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

EchoStar (SATS) came out with a quarterly loss of $0.52 per share versus the Zacks Consensus Estimate of a loss of $0.28. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -85.71%. A quarter ago, it was expected that this seller of set-top boxes and provider of satellite services to Dish Network would post a loss of $0.37 per share when it actually produced a loss of $0.76, delivering a surpris ...

ENGLEWOOD, Colo., Nov. 12, 2024 /PRNewswire/ -- EchoStar Corporation (NASDAQ: SATS) announced its financial results for the three and nine months ended September 30, 2024.Nine Months Ended September 30, 2024: EchoStar reported total revenue of $11.86 billion for the nine months ended September 30, 2024, compared to $12.85 billion in the year ago period. Net loss attributable to EchoStar in the first three quarters of 2024 was $454.78 million, compared to net income of $327.83 million in the year-ago period. ...

Transactions highlight tremendous value of EchoStar's spectrum assets serving as the sturdy platform on which EchoStar will accelerate its deployment of a nationwide wireless service to vigorously compete with incumbent wireless carriers Overwhelming support from approximately $5 billion of existing DISH Network convertible noteholders evidenced by over 96% participation in exchange offers, leaving only $139 million in remaining debt maturities in 2024 and 2025 and significantly improving EchoStar's debt m ...