CORRECTION: Telesat Q1 2024 GAAP EPS $(0.80) Misses $0.04 Estimate, Sales $112.900M Miss $113.850M Estimate
Portfolio Pulse from Benzinga Newsdesk
Telesat (NASDAQ:TSAT) reported a significant miss in its Q1 2024 earnings with a GAAP EPS of $(0.80), missing the $0.04 estimate by 2102.5%, and a 282.05% decrease from the previous year. Sales also fell short at $112.9M, missing estimates by 0.83% and marking a 16.79% decrease from the previous year.
May 10, 2024 | 11:24 am
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Telesat's Q1 2024 earnings report showed a significant miss in both EPS and sales, indicating a substantial decrease in profitability and revenue compared to the previous year.
The substantial miss in both earnings per share and sales compared to analyst estimates, coupled with the significant decrease from the previous year's performance, suggests a negative outlook for Telesat's short-term stock price movement. The magnitude of the miss in earnings, in particular, indicates underlying challenges that could impact investor confidence and stock valuation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100