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Telesat Corporation reports on satellite communications operations built around its GEO services business and the Telesat Lightspeed Low Earth Orbit program. Company updates commonly cover IFRS financial results, GEO revenue and cost trends, and development work on the Lightspeed constellation, including satellites, user terminals, network software, satellite operations software and ground station deployments.
News also covers customer and partnership activity for broadband, government, defence, maritime and aeronautical connectivity. Recurring themes include Telesat Lightspeed service contracts, military Ka-band capability, strategic cooperation agreements, debt refinancing discussions, and legal matters tied to legacy GEO debt and corporate financing structure.
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.
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