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Maxar Technologies (NYSE: MAXR) presented today at the BofA Securities 2021 Transportation, Airlines and Industrials Conference. The presentation showcased Maxar's expertise in Earth Intelligence and Space Infrastructure, emphasizing its commitment to providing innovative solutions to government and commercial clients. Investors can access the live webcast on the Maxar Investor website. The company continues to leverage its extensive experience to deliver insights and solutions effectively and efficiently.
Maxar Technologies (MAXR) held its annual stockholders meeting on May 12, 2021, with approximately 65% of shares represented. All director nominees were elected with votes ranging significantly for each nominee. Shareholders also approved key proposals, including executive compensation, amendments to the 2019 Incentive Award Plan, and the appointment of KPMG LLP as independent auditor. This demonstrates strong shareholder support for the management team and corporate governance initiatives.
Maxar Technologies (NYSE:MAXR) has appointed Daniel Nord as Senior Vice President and Chief Product Officer, effective May 24. Nord previously held leadership roles at Amazon, where he significantly grew the mobile subscriber base and led the development of Amazon’s first original franchise. He will oversee a team of 400 at Maxar, focusing on enhancing the Earth Intelligence product roadmap to foster growth in government and commercial sectors. Jeff Culwell, who has been with Maxar for 22 years, will transition to a new role in the chief technology office.
Maxar Technologies (NYSE:MAXR) announced that senior management will present at key investor conferences. The BofA Securities 2021 Transportation, Airlines and Industrials Conference is scheduled for May 20, 2021, at 1:00 p.m. PDT. It will be available via webcast on Maxar's investor website. The Barclays High Yield Bond & Syndicated Loan Conference will occur on May 25, 2021, featuring 1x1 meetings only. Maxar is committed to delivering value in Earth Intelligence and Space Infrastructure, serving both government and commercial clients.
Maxar Technologies (NYSE:MAXR) reported a net loss of $84 million for Q1 2021, which includes a $28 million charge from the SXM-7 satellite program. Revenues increased slightly to $392 million, driven by growth in the Space Infrastructure segment, despite a significant decline in the Earth Intelligence segment due to the absence of deferred revenue recognition from the EnhancedView Contract. The company completed a public offering of 10 million shares at $40 each, raising $380 million to reduce debt. Adjusted EBITDA for the quarter was $67 million, down from $77 million in Q1 2020.
Maxar Technologies (NYSE:MAXR) announced the appointment of Chris Johnson as Senior Vice President of Space Programs Delivery, effective May 24. Johnson, formerly president of Boeing Satellite Systems International, brings substantial experience in satellite manufacturing and business transformation. He will oversee design, manufacturing, and delivery operations involving 1,900 employees across multiple facilities. His leadership is expected to enhance Maxar’s capabilities in space technologies and support growth in both commercial and government sectors, following Paul Estey's interim leadership since January 2021.
Maxar Technologies (NYSE:MAXR) is strengthening its presence in St. Louis with a focus on workforce diversity. Recent initiatives include an expanded partnership with Harris-Stowe State University (HSSU) and a new $19 million contract with the U.S. National Geospatial-Intelligence Agency (NGA). Maxar's collaboration with HSSU involved a Mapathon that engaged students in mapping, enhancing geospatial skills. The NGA contract will enable Maxar to deliver global land cover data, further contributing to job creation and diversity efforts in the region.
Maxar Technologies (NYSE:MAXR) has declared a quarterly dividend of $0.01 per share, payable on June 30, 2021, to shareholders of record as of June 15, 2021. This highlights the company's commitment to returning value to its investors amidst a challenging market environment. Maxar, a leader in Earth Intelligence and Space Infrastructure, provides crucial services to both government and commercial sectors, focusing on global communications and space exploration. The announcement reinforces the firm’s strategy to enhance shareholder confidence through consistent dividend payouts.
Maxar Technologies (NYSE: MAXR) will release its Q1 2021 financial results after market close on May 3, 2021. The earnings call, led by CEO Dan Jablonsky and CFO Biggs Porter, is scheduled for 3:00 PM MT (5:00 PM ET) the same day, followed by a Q&A session. Participants must register in advance for the call. A replay will be available from May 3 at 6:00 PM MT until May 17 at 9:59 PM MT. Maxar, an innovator in Earth Intelligence and Space Infrastructure, aims to provide insights to customers navigating changes on our planet.
Maxar Technologies (NYSE: MAXR) has successfully delivered the Solar Electric Propulsion (SEP) Chassis to NASA for the Psyche mission, slated for launch in August 2022. This lightweight, cutting-edge spacecraft will explore a metal-rich asteroid between Mars and Jupiter, expected to arrive in 2026. The SEP Chassis is based on Maxar's trusted 1300-class platform, enabling the efficient use of solar electric propulsion technology. The company emphasizes the collaboration with NASA and Arizona State University, highlighting the mission's significance for deep space exploration and future government contracts.
