Welcome to our dedicated page for Intelsat news (Ticker: INTEQ), a resource for investors and traders seeking the latest updates and insights on Intelsat stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Intelsat's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Intelsat's position in the market.
Intelsat has been awarded a contract by Air France to install its 2Ku high-speed satellite-based inflight connectivity (IFC) solution on 60 new A220-300 aircraft. Deliveries will start in 2021, enhancing Air France's fleet to 143 aircraft equipped with Intelsat services. This solution is celebrated for its high throughput and reliability, supporting passenger connectivity. Additionally, Intelsat is investing $2 billion in a global 5G network to enhance connectivity. The new service is expected to launch in fall 2021.
Intelsat has garnered support from key creditor groups for its Amended Plan of Reorganization, aiming to reduce its debt from nearly
Intelsat reported financial results for Q2 2021, revealing total revenue of $507.9 million, a 5% increase year-over-year. The company recorded a net loss of $152.3 million, improved from a loss of $405.4 million in Q2 2020. EBITDA was $150.4 million, a significant turnaround from a negative EBITDA of ($18.8 million) in the previous year. Notably, Network Services saw a revenue increase of 25%, driven by inflight connectivity and new mobility services. Meanwhile, Media revenue saw a 9% decline due to customer migration.
Intelsat announced the delivery of the first factory-installed Intelsat 2Ku system on an A321neo aircraft to Cathay Pacific, enhancing inflight entertainment and connectivity services. This partnership with Airbus allows airlines to access Intelsat's global network immediately upon aircraft delivery. Intelsat is a leading provider of inflight broadband, known for its reliable Service Level Agreements. Furthermore, the company is developing a global 5G satellite-based network to support next-gen mobility services. This initiative marks a significant step in advancing inflight connectivity.
Intelsat has officially rebranded Gogo Commercial Aviation, acquired in December 2020, to Intelsat, enhancing its position as the world’s leading provider of inflight broadband connectivity. This vertical integration enables Intelsat to offer a high-performance inflight entertainment and connectivity experience. CEO Stephen Spengler emphasized the company’s unmatched capacity and global reach, aiming to deliver reliable services without compromising coverage. The rebranding aligns with efforts to deploy a global 5G satellite-based network, enhancing mobility and IoT services.
Intelsat S.A. (OTC: INTEQ) reported Q1 2021 financial results, with total revenue reaching $502.8 million, a 10% increase from Q1 2020. However, the net loss was $174.9 million, improved from a net loss of $218.8 million in the prior year. The EBITDA was $130.5 million, down from $263.3 million, while Adjusted EBITDA stood at $275.0 million (55% of revenue). Network Services revenue rose 43% to $214.0 million, while Media revenue decreased by 10% to $185.0 million. The company's contracted backlog is now $5.9 billion, down from $6.1 billion. A significant portion of costs were related to Gogo Commercial Aviation and C-band spectrum relocation.
Intelsat S.A. (OTC: INTEQ) reported Q4 2020 revenue of $482.8 million and a net loss of $271.6 million. For the full year, revenue totaled $1,913.1 million with a net loss of $911.7 million. EBITDA for Q4 was $39.5 million, with Adjusted EBITDA at $307.6 million, or 64% of revenue. The drop in revenue is linked to COVID-19 impacts, particularly in mobility and media segments. Despite a 3% decline in government revenue, there was a 4% annual increase in government services. Intelsat anticipates growth from C-band relocation and the integration of its aviation business.
Intelsat S.A. (OTC: INTEQ) has announced key creditor support for a financial restructuring plan that aims to reduce its debt from nearly $15 billion to approximately $7 billion. The company is filing a Plan of Reorganization in its Chapter 11 proceedings in the Eastern District of Virginia, with a hearing scheduled for March 17, 2021. Approximately $3.8 billion of funded debt holders have signed a Plan Support Agreement, indicating strong creditor backing. This restructuring is intended to set the stage for the company's long-term success and expected emergence from Chapter 11 in the second half of 2021.
