Iridium Communications Reiterated FY24 Service Revenue Growth of 4%-6%, OEBITDA of $460M-$470M
Portfolio Pulse from Benzinga Newsdesk
Iridium Communications reiterated its FY24 service revenue growth of 4%-6% and OEBITDA of $460M-$470M. The company also updated its longer-term guidance on net leverage, aiming for below 4.0 times OEBITDA through 2026 and below 2.0 times OEBITDA by the end of the decade.
July 23, 2024 | 11:08 am
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Iridium Communications reiterated its FY24 service revenue growth of 4%-6% and OEBITDA of $460M-$470M. The company also updated its longer-term guidance on net leverage, aiming for below 4.0 times OEBITDA through 2026 and below 2.0 times OEBITDA by the end of the decade.
The reiteration of service revenue growth and OEBITDA for FY24 provides stability and confidence to investors. The updated long-term net leverage guidance indicates a strong financial strategy, which is likely to positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100