Why Telesat Stock Is Shooting Higher Today
Portfolio Pulse from Nabaparna Bhattacharya
Telesat Corporation (NASDAQ:TSAT) shares are trading higher after the company reported Q2 results and selected MDA Ltd (OTC:MDALF) as the prime satellite manufacturer for its Lightspeed Low Earth Orbit constellation. Telesat's Q2 revenue was C$180 million, a 4% Y/Y decrease, mainly due to a termination of service by a South American customer and reduced revenue from a North American customer. The company reiterated its FY23 forecast for revenues of C$690 million-C$710 million and Adjusted EBITDA of C$500 million-C$515 million.
August 11, 2023 | 12:57 pm
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POSITIVE IMPACT
MDA Ltd has been selected by Telesat as the prime satellite manufacturer for its Lightspeed Low Earth Orbit constellation.
MDA Ltd's selection as the prime satellite manufacturer for Telesat's Lightspeed Low Earth Orbit constellation is a significant contract for the company and could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Telesat's Q2 results and the selection of MDA Ltd for its satellite program have led to a rise in its stock price.
Telesat's Q2 results, despite a decrease in revenue, along with the announcement of MDA Ltd as the prime satellite manufacturer for its Lightspeed Low Earth Orbit constellation, have positively impacted the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100