Welcome to our dedicated page for EchoStar Corporation news (Ticker: SATS), a resource for investors and traders seeking the latest updates and insights on EchoStar Corporation stock.
EchoStar Corporation (NASDAQ: SATS) stands as a premier global provider of satellite operations and video delivery solutions. With its headquarters in Englewood, Colorado, and operations spanning worldwide, EchoStar has been a trailblazer in the satellite and television industries for nearly 30 years. The company's wholly owned subsidiary, Hughes, is the world's leading provider of satellite broadband services, offering network technologies and managed services in over 100 countries. EchoStar’s consumer solutions portfolio includes the renowned HughesNet®, North America’s top high-speed satellite internet service, and the popular Slingbox® products from Sling Media.
EchoStar's innovations have garnered multiple Emmy Awards, significantly influencing how consumers view, receive, and manage TV programming. Following the merger with Dish Network, satellite television generates the bulk of EchoStar's revenue, serving around 6 million U.S. customers, approximately 10% of the traditional television market. In 2015, the company launched an internet-based television service under the Sling brand, which now serves about 2 million customers.
Recently, EchoStar has focused on expanding its wireless business. The firm has accumulated a substantial portfolio of spectrum licenses over the past 15 years, building a nationwide wireless network. It acquired Sprint's prepaid business, now serving about 7 million customers, mainly under the Boost brand. EchoStar also remains dedicated to its legacy businesses, providing satellite telecom services and equipment to businesses and consumers, including about 1 million internet customers.
EchoStar's recent achievements and projects highlight its continued growth and innovation. On April 26, 2024, Hughes opened a new cutting-edge manufacturing facility and private 5G incubation center in Germantown, Maryland. This facility underscores Hughes' commitment to technological advancement and fostering local talent. It produces high-tech products like the Hughes HT3000W JUPITER™ System satellite modem and the Hughes HL1120W Low Earth Orbit (LEO) satellite terminal. The facility also serves as a testing ground for private 5G solutions for enterprise and secure 5G networking applications critical to the U.S. Department of Defense.
Financially, EchoStar continues to show robust performance. On May 8, 2024, the company announced its first-quarter financial results, highlighting efforts to integrate EchoStar and DISH Network businesses, maximize synergies, and drive operational alignment. The addition of the EchoStar XXIV/Jupiter™ 3 satellite has further enhanced their service offerings, ensuring continued profitability and growth.
Moreover, EchoStar has secured significant government contracts. On May 15, 2024, the company announced it had been awarded an indefinite delivery/indefinite quantity (IDIQ) contract by the U.S. Naval Supply Systems Command's Spiral 4 wireless products and services purchasing program, worth up to $2.7 billion over 10 years. This contract will see Hughes Network Systems and Boost Mobile provide 5G wireless services and devices to support DoD usage in all U.S. states and territories.
Continuing its expansion, EchoStar's Hughes Europe subsidiary announced on June 11, 2024, a strategic initiative to meet the growing demand for high-speed connectivity and secure communications across Europe’s military and government sectors. This initiative involves collaboration with Telespazio, leveraging the Eutelsat Konnect VHTS satellite and Hughes JUPITER terminals to provide high-speed service.
EchoStar’s mission to connect everyone, everywhere remains central to its operations, as it continues to innovate and expand its services in the satellite, television, and wireless industries.
Hughes Network Systems, an EchoStar company (Nasdaq: SATS), has partnered with UZ-SAT, a joint venture in Uzbekistan, to provide satellite broadband services aimed at bridging the digital divide. This project will utilize the Hughes JUPITER™ System to deliver internet access to remote and rural areas in Uzbekistan. The partnership is expected to enhance connectivity, enabling enterprise networks and supporting governmental initiatives. UZ-SAT is recognized as the first national broadband satellite service provider in Uzbekistan and aims to extend its services to various sectors, including education and healthcare.
The Hughes JUPITER System and managed satellite service have been integrated into the CFE Telecomunicaciones e Internet para Todos initiative by Stargroup, enhancing LTE connectivity in rural Mexico. This collaboration aims to bridge the digital divide, extending internet access to remote communities through the deployment of over 7,200 Community Wi-Fi sites. Stargroup's choice of Hughes technology ensures reliable service at speeds of 20-60 Mbps. The initiative reflects a commitment to improving connectivity for underserved populations, with support from the Mexican government and Hughes Network Systems.
EchoStar Corporation (NASDAQ: SATS) reported its Q4 and full-year 2022 financial results on February 22, 2023. For Q4, the company achieved consolidated revenue of $499.9 million and net income of $47.6 million, translating to an EPS of $0.59. Full-year revenue reached $2.0 billion, with net income of $166.5 million and EPS of $2.10. Adjusted EBITDA for Q4 was $163.6 million, marking a 2.5% increase year-over-year. The company plans to launch the EchoStar XXIV/JUPITER 3 satellite in Q2 2023, which is expected to drive future growth. However, Hughes broadband subscribers fell by 57,000 due to competitive pressures and capacity limitations.
EchoStar Corporation (NASDAQ: SATS) has announced a conference call to discuss its fourth quarter and full year 2022 financial results, scheduled for February 23, 2023, at 1:00 p.m. Eastern Time. The call will be accessible via EchoStar's investor relations website, and will feature a live broadcast in listen-only mode. Participants wishing to ask questions must register beforehand to obtain a dial-in number and unique PIN. The financial results press release will be available prior to the call on EchoStar's website. EchoStar, headquartered in Englewood, Colo., is a leader in satellite communication solutions.
On February 8, 2023, SES, ThinKom, and Hughes showcased a high-performance multi-orbit satellite communication system designed for government airborne missions. The system, featuring the ThinAir Ka2517 airborne satcom terminal, demonstrated seamless connectivity across SES's MEO and GEO networks during testing in California. The Ka2517 antenna, based on ThinKom's patented technology, offers extensive airborne communication capabilities, having served U.S. government aircraft for five years. This technology is pivotal for the Joint All Domain Command and Control (JADC2) initiative, enabling real-time data transfer for critical military operations.
EchoStar Corporation (NASDAQ: SATS) has announced a partnership with Astro Digital to construct a global S-band mobile satellite service network. The project aims to deliver Internet of Things (IoT) and machine-to-machine (M2M) services starting in 2024. The constellation will feature 28 satellites, equipped with advanced software-defined radios and the LoRa protocol for low-cost device connectivity. EchoStar will manage the operations from its Australian subsidiary. This initiative is part of EchoStar's broader goal to establish a global non-terrestrial 5G network, addressing the increasing demand for connectivity.
Hughes Network Systems, part of EchoStar (Nasdaq: SATS), introduced the Active Power Edge at NRF 2023. This innovative power distribution unit enhances network reliability and performance for enterprise customers. The unit autonomously detects outages and utilizes AI for device management, ensuring continuous uptime. Hughes manages over 52,000 SD-WAN locations globally and supports half of the top 25 retailers with its managed services. The Active Power Edge is designed to streamline operations and improve customer experience with proactive power management.
Hughes Network Systems, an EchoStar company (Nasdaq: SATS), has expanded its managed cybersecurity services by introducing Managed Detection and Response (MDR) and Security Operations Center as a Service (SOCaaS). This initiative targets small and mid-sized enterprises, providing them with enterprise-level security expertise to combat rising cyber threats like phishing and ransomware. The new services offer proactive intervention and 24/7 monitoring, enhancing the security posture of smaller businesses.
Hughes Network Systems has announced that OneWeb ordered 10,000 Hughes LEO Terminals to enhance its low Earth orbit satellite networking services for enterprise and government sectors. These terminals, featuring the Hughes electronically steered antenna, provide high-speed, low-latency broadband capabilities. With production set to begin in the second half of 2023, the terminals can deliver speeds up to 195 Mbps and 32 Mbps. This collaboration highlights the strategic partnership between Hughes and OneWeb in expanding satellite connectivity options globally.
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