Telesat (TSAT) came out with a quarterly loss of $2.87 per share versus the Zacks Consensus Estimate of $2.47. This compares to earnings of $1.53 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -216.19%. A quarter ago, it was expected that this satellite communications company would post a loss of $0.80 per share when it actually produced a loss of $0.80, delivering no surprise. Over the last four quarters, the company has no ...

Quarterly Report | --- | --- | --- | |------------|-----------------------------------------------------------------------------------------------------------|-------| | | | | | Item 1. | Financial Statements | 1 | | Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 28 | | Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 56 | | | PART II. OTHER INFORMATION | | | Item 1. | Legal Proceedings | 57 | | Item 1A. | Risk Factors | 57 | | | | | | ...

OTTAWA, Ontario, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Telesat (NASDAQ and TSX: TSAT), one of the world's largest and most innovative satellite operators, has scheduled a conference call on Wednesday, August 14, 2024 at 10:30 a.m. ET to discuss its financial results for the three month and six month periods ended June 30, 2024. The call will be hosted by Daniel S. Goldberg, President and Chief Executive Officer, and Andrew Browne, Chief Financial Officer, of Telesat. Prior to the commencement of the call, Teles ...

OTTAWA, Ontario, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Telesat (NASDAQ and TSX: TSAT), one of the world's largest and most innovative satellite operators, has scheduled a conference call on Wednesday, August 14, 2024 at 10:30 a.m. ET to discuss its financial results for the three month and six month periods ended June 30, 2024. The call will be hosted by Daniel S. Goldberg, President and Chief Executive Officer, and Andrew Browne, Chief Financial Officer, of Telesat. Prior to the commencement of the call, Teles ...

OTTAWA, June 20, 2024 (GLOBE NEWSWIRE) -- Telesat Corporation (NASDAQ and TSX: TSAT) ("Telesat" or the "Company"), one of the world's largest and most innovative satellite operators, announced the voting results from its annual meeting of shareholders held yesterday virtually via live audio webcast. Final voting results on all matters voted on at the meeting will be filed on SEDAR+ at https://www.sedarplus.com/ and on EDGAR at https://www.sec.gov/ Continuously innovating to meet the connectivity demands of ...

Shareholders of Telesat voted in favour of all items of business, including the appointment of Deloitte LLP Chartered Professional Accountants as auditors of the Company, the amendment to the Company's Omnibus Plan to increase the number of Class A Common Shares and Class B Variable Voting Shares available for issuance under the Omnibus Plan and the election of each of the director nominees as follows: Final voting results on all matters voted on at the meeting will be filed on SEDAR+ at https://www.sedarpl ...

Market contrarianism tends to be one of the riskiest pathways available, yet it can also, on occasion, lead to massive gains. That might be the situation with highrisk, high-reward idea Telesat (NASDAQ:TSAT). Financially, the company presents a rather poor profile. Nevertheless, TSAT stock has attracted interest from retail investors. Falling under the communication equipment industry, Telesat specializes as a satellite operator. The company provides many services, one of which is providing direct-to-home ( ...

Telesat Corporation (NASDAQ:TSAT) Q1 2024 Earnings Conference Call May 10, 2024 10:30 AM ET Company Participants Michael Bolitho - Director, Treasury & Risk Management Daniel Goldberg - CEO & President Andrew Browne - CFO John Flaherty - VP, Business Planning and Marketing Conference Call Participants Edison Yu - Scotiabank Arun Seshadri - BNP Paribas Chris Quilty - Quilty Analytics Marcello Chermisqui - Ares Management Matt Lapides - ABRY Partners Evan McFadgen - Cormark Securities Alex Nolan - Invesco US ...

Financial Data and Key Metrics Changes - Telesat reported revenues of CAD704 million for the year 2023, with adjusted EBITDA of CAD534 million, and cash from operations of CAD169 million, ending the year with CAD1.7 billion in cash on the balance sheet [115] - In Q4 2023, revenues decreased by CAD41 million to CAD166 million compared to the same period in 2022, while adjusted EBITDA decreased by CAD15.7 million to CAD123 million, resulting in an adjusted EBITDA margin of 74.3% compared to 67.2% in 2022 [116][117] - The net income for Q4 2023 was CAD39 million, down from CAD91 million in the prior year, while the net income for the year was CAD583 million compared to a loss of CAD82 million the previous year [121] Business Line Data and Key Metrics Changes - The expected decline in video revenue is primarily driven by the lower rate on Nimiq 4 from the renewal with Bell and the upcoming renewal with EchoStar on Nimiq 5 [95][96] - The enterprise segment is experiencing significant revenue loss due to customer migration from GEO to LEO networks, particularly influenced by Starlink's market entry [96][104] Market Data and Key Metrics Changes - The transition to LEO networks is occurring faster than anticipated, with enterprise customers increasingly seeking affordable, low-latency broadband connectivity [96][104] - The maritime sector is particularly affected by competition from Starlink, leading to a decline in revenues from maritime services [103][104] Company Strategy and Development Direction - Telesat's highest priority is the focused execution of the Lightspeed program, which aims to transition to LEO networks and provide global broadband services [101][113] - The company plans to invest approximately CAD1 billion into Lightspeed in 2024, with expectations to launch the first satellites in June 2026 and achieve full global coverage by the end of 2027 [108][109] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financing arrangements with the Government of Canada, highlighting a CAD750 million reduction in total cost of borrowings compared to the original funding plan [109][110] - The company does not expect the same magnitude of revenue decline in future years as seen in 2024, indicating a more stable outlook beyond the current year [102][104] Other Important Information - Telesat's operational expenses are expected to increase by CAD40 million year-over-year, primarily due to investments in Lightspeed and headcount expansion [97][125] - The company has repurchased CAD587 million of debt at an aggregate cost of CAD332.7 million, resulting in annual interest savings of around CAD40 million [128] Q&A Session Summary Question: What are the conditions for the funding program? - Management indicated that the program is fully funded subject to entering definitive agreements and ensuring sufficient cash from multiple funding sources [11][14] Question: Can you elaborate on the CAD750 million reduction in funding? - The reduction is calculated based on the comparison of total borrowing costs under the original plan versus the new funding arrangements, factoring in CapEx and other costs [12][19] Question: What is the outlook for broadcast revenue? - The decline in broadcast revenue is primarily due to the lower rate from the Nimiq 4 renewal and anticipated reductions from DISH on Nimiq 5 [25][66] Question: How much is expected to be spent on Lightspeed before definitive agreements? - Management stated that spending is ongoing as they ramp up operations, but specific figures were not disclosed [31] Question: What is the expected impact of Starlink on enterprise revenue? - Management acknowledged that Starlink has significantly impacted maritime services, leading to non-renewals of contracts [37][65]

Exhibit 99.1 Telesat Reports Results for the Quarter and Twelve Months Ended December 31, 2023 OTTAWA, CANADA — March 28, 2024 — Telesat (NASDAQ and TSX: TSAT), one of the world's largest and most innovative satellite operators, today announced its financial results for the three-month and one-year periods ended December 31, 2023. All amounts are in Canadian dollars and reported under International Financial Reporting Standards (IFRS) unless otherwise noted. "Telesat achieved a great deal in 2023 and I am p ...