Welcome to our dedicated page for TELESAT news (Ticker: TSAT), a resource for investors and traders seeking the latest updates and insights on TELESAT stock.
Telesat Corporation (TSAT) is described in its public communications as one of the largest global satellite operators, with shares listed on Nasdaq and the Toronto Stock Exchange. The TSAT news page on Stock Titan aggregates company-specific announcements and third-party coverage so readers can follow developments in Telesat’s satellite telecommunications business.
Recent Telesat news releases highlight several themes. The company regularly reports quarterly and year-to-date financial results, including revenue trends, operating expenses, adjusted EBITDA, net income or loss, contracted GEO and LEO backlog, and fleet utilization. These earnings updates provide insight into the performance of its geostationary satellite fleet and the progress of the Telesat Lightspeed Low Earth Orbit program.
Telesat also issues news on strategic partnerships and projects. Examples include a strategic partnership with the Government of Canada and MDA Space to develop an Arctic military satellite communications capability for the Canadian Armed Forces, the acquisition of land in Timmins, Ontario, for a Lightspeed Landing Station, and expanded relationships with partners such as Calian Group Ltd. and Farcast to support the Lightspeed Operational Data Platform and User Terminals. These announcements show how Telesat applies its satellite capabilities to defence, government, enterprise, aviation, maritime and rural broadband use cases.
In addition, corporate and governance updates appear in the news flow, such as the appointment of a new Chief Financial Officer and notices of upcoming earnings conference calls. Investors and observers who follow TSAT news can use this page to review historical announcements, monitor the evolution of the Telesat Lightspeed program, and track how Telesat positions itself within the satellite telecommunications sector.
Telesat (NASDAQ and TSX: TSAT) has appointed Brigadier-General (Ret'd) G. Michael Adamson as the new Senior Director of Defence Strategy and Business Development. Adamson will focus on expanding the government go-to-market and business development strategy for the Telesat Lightspeed low earth orbit (LEO) network, particularly in Canada, the U.S., and allied nations.
Adamson's role will involve cultivating relationships with government and industry partners, and evolving strategies for Telesat Lightspeed to address key government SATCOM demands. His experience as the inaugural Commander of the Canadian Armed Forces 3 Canadian Space Division and Joint Force Space Component Commander is expected to be valuable in advancing space domain operations and capabilities for government customers.
Telesat (NASDAQ and TSX: TSAT) has secured $2.54 billion in funding for its Telesat Lightspeed Low Earth Orbit (LEO) broadband satellite constellation. The funding includes a $2.14 billion loan from the Government of Canada and a $400 million loan from the Government of Quebec. Both loans carry a floating interest rate 4.75% above CORRA with a 15-year maturity. The governments will receive warrants for 10% and 1.87% of Telesat LEO shares, respectively.
The Telesat Lightspeed network aims to bridge the digital divide by expanding internet and 5G networks globally. Telesat expects to launch the first satellites in mid-2026 and projects 2024 capital expenditures between $1 billion to $1.4 billion. The project is anticipated to create thousands of high-quality Canadian jobs and deliver significant investment in the Canadian economy.
Telesat (NASDAQ and TSX: TSAT) has selected Calian Group (TSX:CGY) to design, develop, and deploy the Element Management System (EMS) for the Telesat Lightspeed Low Earth Orbit (LEO) satellite network. The EMS will be important in connecting and maintaining operations for various components within the network, ensuring optimal performance. Telesat will use the EMS to manage the configuration of Lightspeed Landing Stations, User Terminals, and satellite onboard processors, as well as collect and share system data with Operations Support Systems and Network Operations Centers.
The Telesat Lightspeed constellation aims to offer high-speed, low-latency broadband connectivity to remote locations globally, supporting multi-Gbps data rates for various industries and helping bridge the digital divide. This project, the largest space program in Canada's history, is expected to create thousands of high-quality Canadian jobs and position Canada at the forefront of the New Space Economy.
Telesat (NASDAQ and TSX: TSAT) reported its Q2 2024 financial results, showing a 15% decrease in revenue to $152 million compared to the same period in 2023. The company's Adjusted EBITDA decreased by 25% to $103 million, with a margin of 67.8%. Despite these declines, Telesat maintains a strong cash balance of $1.4 billion and a contractual backlog of $1.1 billion. The company is progressing with its Telesat Lightspeed project, a Low Earth Orbit global broadband constellation. Telesat has also been actively repurchasing debt, having bought back a cumulative principal amount of US$849 million for US$458.9 million. The company reaffirmed its 2024 financial outlook, expecting revenues between $545-565 million and Adjusted EBITDA between $340-360 million.
Telesat (NASDAQ and TSX: TSAT), a leading satellite operator, has announced its upcoming second quarter 2024 earnings conference call. The call is scheduled for Wednesday, August 14, 2024, at 10:30 a.m. ET. Hosted by President and CEO Daniel S. Goldberg and CFO Andrew Browne, the call will discuss Telesat's financial results for the three and six-month periods ending June 30, 2024.
Investors can access the call via toll-free number +1 800 806 5484 (North America) or +1 416 340 2217 (outside North America) using access code 6484355#. A webcast will also be available at https://edge.media-server.com/mmc/p/ytrh4nae. Financial results will be posted on Telesat's website prior to the call. A replay will be accessible until August 28, 2024.
Telesat (NASDAQ and TSX: TSAT) announced the results of its 2024 Annual General and Special Meeting of Shareholders, held virtually on June 19, 2024. Shareholders voted in favor of all business items, including the appointment of Deloitte LLP as auditors, amendments to the Omnibus Plan to increase available Class A Common and Class B Variable Voting Shares, and the election of director nominees. Key voting results include Michael Boychuk with 46,931,389 votes for and 3,845,516 votes withheld, Jane Craighead with 43,711,535 votes for and 7,069,540 votes withheld, and Daniel S. Goldberg with the highest votes at 49,459,604 for and 1,317,331 votes withheld. Full voting results will be filed on SEDAR+ and EDGAR.
Telesat, a leading satellite operator, reported financial results for the quarter ended March 31, 2024. Despite a decrease in revenue, the company maintained high capacity utilization and a substantial contractual backlog. Telesat aims to maximize geostationary activities and accelerate the Telesat Lightspeed program, offering growth opportunities. The company reported a net loss due to foreign exchange issues but remains on track to meet its 2024 guidance.
Telesat, a leading satellite operator, will host a conference call on May 10, 2024, to discuss its financial results for the first quarter of 2024. The call will be led by top executives and the financial information will be available on their website. Investors can join the call via phone or webcast, with a replay option available afterwards.
Summary not available.
Summary not available.