Satellite communications provider will be announcing earnings results this Thursday before market open. Here’s what investors should know.
Iridium missed analysts’ revenue expectations last quarter, reporting revenues of $212.9 million, flat year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a significant miss of analysts’ revenue estimates.
Is Iridium a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Iridium’s revenue to grow 2.9% year on year, slowing from the 5.4% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Iridium rarely misses Wall Street’s revenue estimates.
With Iridium being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for telecommunication services stocks. However, there has been positive investor sentiment in the segment, with share prices up 10.8% on average over the last month. Iridium is up 63.8% during the same time .
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