Welcome to our dedicated page for Telesat Corporation news (Ticker: TSAT), a resource for investors and traders seeking the latest updates and insights on Telesat Corporation stock.
Telesat Corporation (NASDAQ and TSX: TSAT) is one of the largest and most innovative global satellite operators, providing mission-critical communications services to a diverse range of clients. Based in Canada, Telesat operates a single business segment, offering satellite-based services to broadcast, enterprise, and consulting customers internationally.
Telesat's core operations are centered around its groundbreaking satellite networks, including the Telesat Lightspeed Low Earth Orbit (LEO) constellation. This network, comprising 198 state-of-the-art satellites, is integrated with on-ground infrastructures to deliver high-capacity, low-latency broadband connectivity. Telesat Lightspeed is designed to meet the rigorous requirements of telecom, government, maritime, and aeronautical industries, promising fibre-like speeds and global coverage.
Recently, Telesat has made significant strides in expanding its reach and capabilities. A notable partnership with Mage Networks aims to leverage the Telesat Lightspeed network to bring broadband internet to unserved and underserved communities in Canada. Another collaboration with Avanti Communications will enhance Avanti's multi-orbit broadband services, targeting enterprise and government customers starting from 2027.
In addition, Telesat has entered a multi-year agreement with ThinKom to certify the Ka2517 antenna for its Lightspeed network, ensuring robust inflight connectivity. This collaboration is set to revolutionize airborne broadband, providing airlines and passengers with high-throughput, low-latency communications globally.
Financially, Telesat reported an adjusted EBITDA of $123 million for the recent quarter, although this marks an 11% decrease compared to the previous year. The net income also saw a decline, from $91 million to $39 million. Despite these challenges, Telesat continues to invest in its innovative satellite solutions, aiming to drive profitable growth and maintain its position as a leader in satellite communications.
For more information and updates, follow Telesat on their website, @Telesat on X, or on LinkedIn.
Telesat (NASDAQ and TSX: TSAT) has selected Calian Group (TSX:CGY) to design, develop, and deploy the Element Management System (EMS) for the Telesat Lightspeed Low Earth Orbit (LEO) satellite network. The EMS will be important in connecting and maintaining operations for various components within the network, ensuring optimal performance. Telesat will use the EMS to manage the configuration of Lightspeed Landing Stations, User Terminals, and satellite onboard processors, as well as collect and share system data with Operations Support Systems and Network Operations Centers.
The Telesat Lightspeed constellation aims to offer high-speed, low-latency broadband connectivity to remote locations globally, supporting multi-Gbps data rates for various industries and helping bridge the digital divide. This project, the largest space program in Canada's history, is expected to create thousands of high-quality Canadian jobs and position Canada at the forefront of the New Space Economy.
Telesat (NASDAQ and TSX: TSAT) reported its Q2 2024 financial results, showing a 15% decrease in revenue to $152 million compared to the same period in 2023. The company's Adjusted EBITDA decreased by 25% to $103 million, with a margin of 67.8%. Despite these declines, Telesat maintains a strong cash balance of $1.4 billion and a contractual backlog of $1.1 billion. The company is progressing with its Telesat Lightspeed project, a Low Earth Orbit global broadband constellation. Telesat has also been actively repurchasing debt, having bought back a cumulative principal amount of US$849 million for US$458.9 million. The company reaffirmed its 2024 financial outlook, expecting revenues between $545-565 million and Adjusted EBITDA between $340-360 million.
Telesat (NASDAQ and TSX: TSAT), a leading satellite operator, has announced its upcoming second quarter 2024 earnings conference call. The call is scheduled for Wednesday, August 14, 2024, at 10:30 a.m. ET. Hosted by President and CEO Daniel S. Goldberg and CFO Andrew Browne, the call will discuss Telesat's financial results for the three and six-month periods ending June 30, 2024.
Investors can access the call via toll-free number +1 800 806 5484 (North America) or +1 416 340 2217 (outside North America) using access code 6484355#. A webcast will also be available at https://edge.media-server.com/mmc/p/ytrh4nae. Financial results will be posted on Telesat's website prior to the call. A replay will be accessible until August 28, 2024.
Telesat (NASDAQ and TSX: TSAT) announced the results of its 2024 Annual General and Special Meeting of Shareholders, held virtually on June 19, 2024. Shareholders voted in favor of all business items, including the appointment of Deloitte LLP as auditors, amendments to the Omnibus Plan to increase available Class A Common and Class B Variable Voting Shares, and the election of director nominees. Key voting results include Michael Boychuk with 46,931,389 votes for and 3,845,516 votes withheld, Jane Craighead with 43,711,535 votes for and 7,069,540 votes withheld, and Daniel S. Goldberg with the highest votes at 49,459,604 for and 1,317,331 votes withheld. Full voting results will be filed on SEDAR+ and EDGAR.
Telesat, a leading satellite operator, reported financial results for the quarter ended March 31, 2024. Despite a decrease in revenue, the company maintained high capacity utilization and a substantial contractual backlog. Telesat aims to maximize geostationary activities and accelerate the Telesat Lightspeed program, offering growth opportunities. The company reported a net loss due to foreign exchange issues but remains on track to meet its 2024 guidance.
Telesat, a leading satellite operator, will host a conference call on May 10, 2024, to discuss its financial results for the first quarter of 2024. The call will be led by top executives and the financial information will be available on their website. Investors can join the call via phone or webcast, with a replay option available afterwards.