MAXR - Maxar gains 7% as earth imaging paces better-than-expected revenues

Maxar Technologies (NYSE:MAXR) has climbed 7.3% higher in early after-hours action following its fourth-quarter earnings, where revenues that were expected to drop instead rose thanks to its earth imaging operations. Revenues overall ticked up fractionally, to $468 million. The company swung to net income from continuing operations of $71 million, vs. a prior-year loss of $52 million, driven by a $49 million reversal of an orbital receivables allowance, as well as a decrease in Space Infrastructure costs. EBITDA was $112 million with a margin of 23.9%, vs. a year-ago $95 million and margin of 20.3%. Backlog decreased, meanwhile, to $1.893 billion at year-end from a prior-year $1.904 billion. Unfunded contract options were $650 million. "We generated cash flow growth in 2021 versus a year ago on better operating cash flow performance and lower capital expenditures," says Chief Financial Officer Biggs Porter. "I am pleased with the full-year financial performance across the organization,

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Maxar gains 7% as earth imaging paces better-than-expected revenues