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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100