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Iridium Communications Inc (IRDM)
NASDAQ:IRDM
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Earnings Data
Report Date
Feb 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.16Last Year’s EPS
$0.3Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 17, 2024
|% Change Since: -2.83%
|Next Earnings Date:Feb 13, 2025
Earnings Call Sentiment|Positive
Iridium reported strong revenue growth and operational performance, enhanced by strategic product launches and expanded shareholder returns. However, challenges in IoT subscriber growth and broadband subscriber adjustments were noted. The sentiment is largely positive due to the financial achievements and strategic advancements.Company Guidance
During Iridium's Q3 2024 earnings call, the company provided updated guidance and highlighted several key metrics. Iridium increased its guidance for operational EBITDA to between $465 million and $470 million for the full year, indicating strong financial performance. They reported total revenue of $212.8 million for the third quarter, reflecting an 8% increase from the previous year, with service revenue up 6% to $133.3 million. The company also highlighted significant shareholder returns, with $146 million returned through dividends and share repurchases, reducing outstanding shares by about 4%. Iridium's strategic projects, like Project STARDUST, and new product launches are on track, contributing to their long-term growth objectives, including a target of $1 billion in service revenue by 2030. The company also discussed the impact of a major IoT customer contract, which is expected to materially increase revenues in 2025 and beyond.Strong Financial Performance
Iridium reported total revenue of $212.8 million, up 8% from the prior year's quarter, with operational EBITDA hitting a record $124.4 million.
Shareholder Returns
Iridium returned $146 million to shareholders through dividends and share repurchases in Q3, retiring 4.7 million shares, reducing outstanding shares by about 4%.
Expansion in IoT and New Contracts
Commercial IoT revenue rose 14% from the prior year quarter. Iridium signed a new contract with the Space Development Agency, increasing the contract value to approximately $400 million.
Project Stardust and Standards Integration
Iridium's Project Stardust is progressing well, with Iridium satellite technology slated for inclusion in the 3GPP standard Release 19, enabling direct-to-device IoT services.
New Product Launches
Launch of Garmin's new inReach Messenger Plus and new Iridium Certus GMDSS for Mariner, showcasing expanded capabilities and new market standards.
Positive Engineering and Support Revenue
Engineering and support revenue increased by 22%, reflecting growing activity with the U.S. government and the Space Development Agency.
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IRDM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IRDM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 17, 2024 | $30.06 | $33.41 | +11.14% |
| Jul 23, 2024 | $25.66 | $27.52 | +7.25% |
| Apr 18, 2024 | $24.34 | $25.67 | +5.46% |
| Feb 15, 2024 | $34.36 | $29.88 | -13.04% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Iridium Communications Inc (IRDM) report earnings?
Iridium Communications Inc (IRDM) is schdueled to report earning on Feb 13, 2025, TBA Not Confirmed.
What is Iridium Communications Inc (IRDM) earnings time?
Iridium Communications Inc (IRDM) earnings time is at Feb 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IRDM EPS forecast?
IRDM EPS forecast for the fiscal quarter 2024 (Q4) is $0.16.
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