Echostar Corp Stock Price, News & Analysis

EchoStar Corporation (NASDAQ: SATS) announced an amended agreement with Maxar Technologies (NYSE: MAXR) for the production of the JUPITER 3 satellite, also known as EchoStar XXIV. This agreement compensates EchoStar for past production delays and expands recourse options for future delays. The satellite aims to deliver over 500 Gbps of capacity, significantly enhancing Hughes Network Systems' offerings. The JUPITER 3 satellite is set for launch in the first half of 2023, with final preparations currently underway at Maxar's facility.

Dirty Dough, a rapidly expanding premium cookie retailer, has partnered with Hughes Network Systems to implement digital signage solutions for its stores. This includes digital menu boards and promotional screens aimed at enhancing customer engagement and streamlining employee operations. As the company seeks to grow nationally, the Hughes MediaSignage cloud-based content management system will support multiple screens across locations. Founded in 2019, Dirty Dough aims to provide a consistent brand experience as it expands its franchise operations.

EchoStar Corporation (SATS) reported Q3 2022 financial results with consolidated revenue of $497.4 million, a 1.4% decline year over year. Net income was $19.6 million and diluted EPS was $0.27. For the nine months ended September 30, 2022, total revenue reached $1,498.2 million with net income of $119.0 million and EPS of $1.51. Adjusted EBITDA for Q3 was $158.8 million, down 15.1% compared to the previous year. Equipment sales increased, but broadband subscriber levels declined, impacting overall performance.

EchoStar Corporation (NASDAQ: SATS) will hold a conference call on November 3, 2022, at 11:00 a.m. ET to discuss its third-quarter 2022 financial results. The call will be accessible via EchoStar's investor relations website. Participants wishing to ask questions must register to receive dial-in details.

The press release containing the financial results will be available prior to the call, providing investors with timely information.

Hughes Network Systems has launched HughesNet Fusion plans, combining satellite and wireless technology to provide high-speed, low-latency internet services in select U.S. markets. This innovation aims to address latency issues of traditional GEO satellites while leveraging their cost-effectiveness and reliability. The service promises speeds up to 25 Mbps with no hard data limits, targeting areas lacking high-speed internet. Future enhancements include the launch of the JUPITER 3 satellite next year, expected to offer speeds up to 100 Mbps.

Hughes Network Systems has partnered with Itellum Comunicaciones Costa Rica S.R.L. to provide high-speed internet in remote areas of Costa Rica using the Hughes JUPITER System. This collaboration aims to connect customers beyond the reach of fiber and wireless services, targeting underserved zones like schools, national parks, and indigenous communities. The agreement highlights a commitment to bridging the digital divide in Costa Rica, leveraging Hughes' satellite technology to enhance connectivity for families and businesses.

A joint-venture between Minkoff Development and South Duvall has inked a lease with Hughes Network Systems to construct a 140,000 square foot facility at Montgomery College's Germantown Campus. This new facility will focus on producing Hughes satellite broadband and networking equipment. Groundbreaking is set for August 2022, with anticipated occupancy in fall 2023. Hughes aims to engage with Montgomery College to enhance local workforce skills, while Minkoff Development emphasizes the collaboration's potential to support the area’s economic growth.