Iridium Communications Expects FY24 Service Revenue Growth of 5% (Prior 4%-6%), OEBITDA of $465M-$470M (Prior $460M-$470M)
Portfolio Pulse from Benzinga Newsdesk
Iridium Communications has updated its 2024 financial outlook, expecting a 5% growth in service revenue and OEBITDA between $465M and $470M. The company plans to maintain net leverage below 4.0 times OEBITDA through 2026 and reduce it further by the end of the decade.
October 17, 2024 | 11:05 am
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Iridium Communications has revised its 2024 outlook, projecting a 5% growth in service revenue and OEBITDA between $465M and $470M. This indicates a stable financial performance with a slight improvement in revenue expectations.
The updated guidance shows a slight improvement in revenue expectations, which is a positive indicator for investors. The stable OEBITDA range suggests consistent operational performance. The company's plan to manage net leverage effectively also adds to investor confidence.
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