Iridium Board of Directors Approves Additional $500 Million Share Repurchase Program; Since Inception Authorizations Now Total $1.5 Billion
Iridium Communications Inc. (Nasdaq: IRDM) has announced that its Board of Directors has authorized an additional $500 million share repurchase program through December 31, 2027. This is the fourth stock repurchase authorization in the past four years, bringing the total value of the program to $1.5 billion. The company aims to maintain net leverage below 4.0 times through 2026 and below 2.0 times operational EBITDA by the end of the decade.
CEO Matt Desch highlighted that Iridium has already returned over a billion dollars through share repurchases and dividends, positioning the company as one of the most shareholder-friendly in the Space, tech, and telecom industries. The repurchase timeframe can be adjusted by the Board of Directors, with transactions occurring on the open market or through negotiated off-market deals.
Iridium Communications Inc. (Nasdaq: IRDM) ha annunciato che il suo Consiglio di Amministrazione ha autorizzato un ulteriore programma di riacquisto di azioni da 500 milioni di dollari fino al 31 dicembre 2027. Questo è il quarto via libera al riacquisto di azioni negli ultimi quattro anni, portando il valore totale del programma a 1,5 miliardi di dollari. L'azienda punta a mantenere un rapporto di indebitamento netto al di sotto di 4,0 volte fino al 2026 e al di sotto di 2,0 volte l'EBITDA operativo entro la fine del decennio.
Il CEO Matt Desch ha sottolineato che Iridium ha già restituito oltre un miliardo di dollari tramite riacquisti di azioni e dividendi, posizionando così l'azienda come una delle più favorevoli agli azionisti nei settori spaziale, tecnologico e delle telecomunicazioni. Il periodo di riacquisto può essere modificato dal Consiglio di Amministrazione, con transazioni che possono avvenire sul mercato aperto o tramite accordi negoziati fuori mercato.
Iridium Communications Inc. (Nasdaq: IRDM) ha anunciado que su Junta Directiva ha autorizado un programa adicional de recompra de acciones por 500 millones de dólares hasta el 31 de diciembre de 2027. Esta es la cuarta autorización de recompra de acciones en los últimos cuatro años, aumentando el valor total del programa a 1,5 mil millones de dólares. La compañía tiene como objetivo mantener un apalancamiento neto por debajo de 4,0 veces hasta 2026 y por debajo de 2,0 veces el EBITDA operativo para finales de la década.
El CEO Matt Desch destacó que Iridium ya ha devuelto más de mil millones de dólares a través de recompras de acciones y dividendos, posicionando a la empresa como una de las más favorables para los accionistas en las industrias espacial, tecnológica y de telecomunicaciones. El período de recompra puede ser ajustado por la Junta Directiva, con transacciones que ocurren en el mercado abierto o a través de acuerdos negociados fuera de mercado.
Iridium Communications Inc. (Nasdaq: IRDM)는 이사회가 2027년 12월 31일까지 추가로 5억 달러 규모의 자사주 매입 프로그램을 승인했다고 발표했습니다. 이는 지난 4년간 네 번째 주식 매입 승인으로, 프로그램의 총 가치는 15억 달러에 달합니다. 회사는 2026년까지 순 레버리지를 4.0배 이하로, 그리고 2030년 말까지 운영 EBITDA의 2.0배 이하로 유지하는 것을 목표로 하고 있습니다.
CEO Matt Desch는 Iridium이 이미 자사주 매입과 배당금을 통해 10억 달러 이상을 반환했으며, 이를 통해 우주, 기술 및 통신 산업에서 주주 친화적인 회사 중 하나로 자리잡았다고 강조했습니다. 매입 기간은 이사회의 조정이 가능하며, 거래는 공개 시장에서 이루어지거나 협상된 비공식 거래를 통해 이루어질 수 있습니다.
Iridium Communications Inc. (Nasdaq: IRDM) a annoncé que son conseil d'administration avait autorisé un programmme de rachat d'actions de 500 millions de dollars jusqu'au 31 décembre 2027. Il s'agit de la quatrième autorisation de rachat d'actions au cours des quatre dernières années, portant la valeur totale du programme à 1,5 milliard de dollars. La société vise à maintenir un ratio d'endettement net inférieur à 4,0 fois jusqu'en 2026 et inférieur à 2,0 fois l'EBITDA opérationnel d'ici la fin de la décennie.
Le PDG Matt Desch a souligné qu'Iridium avait déjà restitué plus d'un milliard de dollars grâce à des rachats d'actions et des dividendes, plaçant l'entreprise parmi les plus amicales envers les actionnaires dans les secteurs spatial, technologique et télécommunications. La durée du rachat peut être ajustée par le conseil d'administration, les transactions ayant lieu sur le marché ouvert ou par le biais d'accords négociés hors marché.
Iridium Communications Inc. (Nasdaq: IRDM) hat bekannt gegeben, dass der Vorstand ein zusätzliches Aktienrückkaufprogramm in Höhe von 500 Millionen Dollar bis zum 31. Dezember 2027 genehmigt hat. Dies ist die vierte Genehmigung zum Aktienrückkauf in den letzten vier Jahren und erhöht den Gesamtwert des Programms auf 1,5 Milliarden Dollar. Das Unternehmen strebt an, die Nettoverschuldung bis 2026 unter 4,0-fach und das operative EBITDA bis Ende des Jahrzehnts unter 2,0-fach zu halten.
CEO Matt Desch betonte, dass Iridium bereits über eine Milliarde Dollar durch Aktienrückkäufe und Dividenden zurückgegeben hat und das Unternehmen so als eines der aktionärsfreundlichsten in den Bereichen Raumfahrt, Technologie und Telekommunikation positioniert hat. Der Rückkaufzeitraum kann vom Vorstand angepasst werden, wobei Transaktionen auf dem offenen Markt oder durch ausgehandelte außerbörsliche Geschäfte stattfinden können.
- Authorization of $500 million for share repurchases, the largest ever approved by the Board
- Total share repurchase program value increased to $1.5 billion
- Over $1 billion already returned to shareholders through repurchases and dividends
- Company targets net leverage below 4.0 times through 2026 and below 2.0 times operational EBITDA by decade's end
- None.
Insights
Iridium's $500 million share repurchase program signals strong confidence in the company's financial health and future prospects. This authorization, the largest to date, brings the total buyback commitment to
The company's focus on maintaining net leverage below 4.0 times through 2026 and targeting below 2.0 times operational EBITDA by decade's end shows a balanced approach to growth and shareholder returns. This strategy, coupled with the completion of the Iridium NEXT program, positions the company for sustained free cash flow generation, potentially enhancing long-term shareholder value.
Iridium's aggressive share repurchase program sets it apart in the space and telecom sectors. By returning over
This move could attract value investors and potentially lead to a re-rating of the stock. However, investors should monitor the impact on the company's liquidity and its ability to invest in future growth initiatives. The extended buyback timeframe suggests a measured approach, allowing the company to balance market opportunities with operational needs.
The completion of the Iridium NEXT program marks a significant milestone, enabling the company to shift from heavy capital investment to cash generation. This next-generation satellite constellation enhances Iridium's service capabilities, potentially opening new revenue streams in IoT, maritime and aviation sectors.
The substantial share repurchase program, while investor-friendly, raises questions about the balance between returning capital and investing in technological advancements. As the satellite communications market evolves rapidly, Iridium must ensure it maintains its competitive edge through continued innovation, even as it rewards shareholders.
Iridium began its share repurchase program with an authorization of
"With the completion of the Iridium® NEXT program, Iridium began generating meaningful free cash flow and committed to implementing shareholder-friendly activities," said Matt Desch, CEO, Iridium. "In the last few years, we have already returned over a billion dollars through share repurchases and dividends, and this authorization continues the trend, making us one of the most shareholder-friendly companies, not just in Space, but throughout the tech and telecom industries as well."
The Company repurchase timeframe can be extended or shortened by the Board of Directors, with any potential transactions being made on the open market at prevailing prices or in negotiated transactions off the market.
About Iridium Communications Inc.
Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations, and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2024, Iridium acquired Satelles, Inc. and announced the Iridium Satellite Time and Location service. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services, and partner solutions, visit www.iridium.com.
Forward-Looking Statements
Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Iridium's expectations with respect to the amount and timing of share repurchases and target leverage levels. Forward-looking statements can be identified by the words "anticipates," "may," "can," "believes," "expects," "projects," "intends," "likely," "will," "to be" and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding customer demand for Iridium's products and services, including demand from the
Press Contact:
Jordan Hassin
Iridium Communications Inc.
Jordan.Hassin@Iridium.com
+1 (703) 287-7421
X: @Iridiumcomm
Investor Contact:
Kenneth Levy
Iridium Communications Inc.
Ken.Levy@Iridium.com
+1 (703) 287-7570
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SOURCE Iridium Communications Inc.
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