Iridium Communications Expects FY24 Service Revenue Growth of 4%-6% YoY Vs $584.5M in FY23, OEBITDA of $460M-$470M Vs $$463.1M in FY23
Portfolio Pulse from Benzinga Newsdesk
Iridium Communications (IRDM) forecasts FY24 service revenue growth of 4%-6% from $584.5M in FY23, with OEBITDA expected between $460M-$470M, compared to $463.1M in FY23. The company also anticipates cash taxes under $10M annually through 2024-2026, aiming for net leverage below 2.5 times OEBITDA between 2026-2029, and under 2.0 by decade's end.
February 15, 2024 | 12:06 pm
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Iridium Communications expects FY24 service revenue growth of 4%-6% from $584.5M in FY23, with OEBITDA between $460M-$470M. The company also plans for lower cash taxes and reduced net leverage in the near future.
The positive revenue growth projection and the expected improvement in OEBITDA indicate a strong financial outlook for IRDM, likely leading to a positive short-term impact on its stock price. The commitment to reducing net leverage and maintaining low cash taxes further strengthens the company's financial stability, making it an attractive investment.
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IMPORTANCE 90
RELEVANCE 100