Telesat Shares Surge After Earnings Surprise, 2024 Guidance Remains Strong
Portfolio Pulse from Akanksha Bakshi
Telesat (NASDAQ:TSAT) shares surged after the company reported stronger-than-expected Q2 2024 results. Despite a 15.2% YoY revenue decline to C$152.44 million, the figure beat the consensus estimate of C$141.15 million. EPS was C$2.45, above the consensus estimate of C$1.71. The company remains on track to meet its 2024 guidance, with expected revenues between C$545 million and C$565 million and Adjusted EBITDA between C$340 million and C$360 million.
August 14, 2024 | 2:54 pm
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Telesat shares surged after the company reported stronger-than-expected Q2 2024 results. Despite a 15.2% YoY revenue decline, the figure beat the consensus estimate. EPS was also above expectations. The company remains on track to meet its 2024 guidance.
The stronger-than-expected earnings report and positive guidance for 2024 are likely to boost investor confidence in Telesat, leading to a short-term increase in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100