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.
EchoStar Corporation (NASDAQ: SATS) posted solid financial results for the three and nine months ended September 30, 2021. Consolidated revenue reached $504.7 million for Q3, with net income of $30.2 million and EPS of $0.38. Year-to-date revenue totaled $1,487.1 million, net income was $142.8 million, and EPS stood at $1.64. The company reported Adjusted EBITDA of $187.0 million for Q3 and $559.4 million year-to-date. Notably, revenue grew 6.6% year-over-year, driven primarily by increased equipment sales.
EchoStar Corporation (NASDAQ: SATS) will host a conference call on November 9, 2021, at 11:00 a.m. ET to discuss its third quarter 2021 financial results. The call will be accessible via EchoStar's investor relations website. A telephonic replay will be available shortly after the call until November 11, 2021. EchoStar is known for its satellite communication solutions through its Hughes Network Systems and EchoStar Satellite Services segments, aiming to provide secure communications globally.
Hughes Network Systems (part of EchoStar) announced that its CEO, Pradman P. Kaul, received the 2021 Aerospace Communications Award from the American Institute of Aeronautics and Astronautics (AIAA). This award recognizes his contributions to the satellite communications industry, specifically for developing the very small aperture terminal (VSAT). Hughes has shipped over nine million VSAT terminals, holding more than 50% of the global market share. The company's flagship service, HughesNet, connects over 1.5 million subscribers across the Americas.
Hughes Network Systems announced a partnership with the National Company for Telecommunications Services (NCTS) to implement the Hughes JUPITER System for the Ka-band TIBA-1 satellite in Egypt. This deployment aims to enhance internet and telecom services to remote areas, marking a significant step in Egypt's connectivity mission. The initial setup will include two gateways, a network management system, and user terminals, with further expansion anticipated as demand grows. Hughes aims to support economic development by providing efficient, reliable broadband connectivity across the nation.
On September 30, 2021, Hughes Network Systems announced that the National Company for Telecommunications Services (NCTS) in Egypt selected the Hughes JUPITER™ System Series 3 to support the Ka-band TIBA-1 satellite's ground segment requirements. This initiative aims to enhance Internet and telecom services for millions in remote areas, contributing to Egypt's goal of expanding broadband access. The JUPITER System is renowned for its efficiency, reliability, and flexibility in delivering connectivity. Initial installations are expected in 2022, with further expansions possible as demand grows.
Hughes Network Systems and SES announced a successful demonstration of a new multi-orbit satellite communications capability for unmanned aerial vehicles (UAVs), specifically the GA-ASI MQ-9 series. This demonstration showcased how the Hughes Resource Management System automatically switches satellite signals between geosynchronous (GEO) and medium earth orbit (MEO) satellites, ensuring secure connectivity even in contested environments. The system delivered three times the throughput of current SATCOM services using a smaller terminal, significantly enhancing military ISR (Intelligence, Surveillance, and Reconnaissance) operations.
Hughes Network Systems has announced that Telespazio has selected its HeloSat™ solution for satellite communication in Leonardo's helicopters. This innovative system incorporates the Hughes HM100 gateway and HM400 modem for seamless SATCOM capabilities, enabling real-time connectivity for aerial operations using the Athena-Fidus Ka-band satellite in Italy. The HeloSat solution has demonstrated no packet loss and is designed for military and commercial applications, enhancing operational capabilities across various rotary-wing platforms.
Hughes Network Systems and OneWeb have signed a distribution agreement in the U.S. and a strategic MOU in India aimed at expanding enterprise services. This collaboration will enhance connectivity options, particularly in rural and remote areas. The companies will offer low-latency, high-speed internet through Hughes' systems, thereby addressing growing broadband demands. The partnership builds on Hughes' investment in OneWeb and includes ongoing projects like satellite gateway development and military applications.
Hughes Network Systems announced that Indonesian ISP PT. Dwi Tunggal Putra will utilize its JUPITER™ System to provide satellite connectivity to 1,400 rural locations, enhancing broadband access in Indonesia and Papua. This deployment supports BAKTI's broadband initiatives, leveraging the KTSAT 7 satellite. Hughes' JUPITER System is recognized for its efficiency and capability to integrate terrestrial and satellite traffic, benefiting from higher bandwidth efficiency. The company continues its leadership in satellite services and exhibits at SATELLITE 2021, showcasing innovative connectivity solutions.
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