TSAT - Telesat GAAP EPS of C$10.06 revenue of C$180M; reaffirms FY23 guidance

2023-08-11 06:35:06 ET

• Telesat press release ( NASDAQ: TSAT ): Q2 GAAP EPS of C$10.06.
• Revenue of C$180M (-3.5% Y/Y).
• Adjusted EBITDA for the quarter was C$139 million, a decrease of 5% (C$8 million) or, when adjusted for foreign exchange rates, a decrease of 8% (C$12 million).
• The Adjusted EBITDA margin was 77.1%, compared to 78.4% in the same period in 2022.
• Telesat had contracted backlog for future services of approximately C$1.6 billion (excluding contractual backlog associated with Telesat Lightspeed).
• Fleet utilization was 87%.
• Outlook: Telesat continues to expect its full year 2023 revenues to be between C$690 million and C$710 million.
• Telesat continues to expect its Adjusted EBITDA to be between C$500 million and C$515 million in 2023.
• For 2023, as a result of the Telesat Lightspeed contract announcement, Telesat now expects its cash flows used in investing activities to be in the range of C$175 million to C$225 million.

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