Telesat reported second-quarter adjusted earnings per share of 12 cents, missing the 50-cent consensus estimate by $0.38, according to Refinitiv data. Revenue totaled $345 million, topping the $330 million forecast.
The company attributed the earnings shortfall to higher-than-expected costs tied to its Lightspeed satellite broadband program. Telesat maintained its full-year revenue guidance range of $1.3 billion to $1.4 billion, reaffirming confidence in its growth trajectory despite the earnings miss.
Chief Executive Officer Dan Goldberg highlighted progress in the constellation deployment, noting that three additional satellites were launched in the quarter. The Lightspeed network remains on track for initial commercial service in 2025, the company said.
Analysts noted that while the earnings miss reflects near-term cost pressures, Telesat’s revenue beat underscores demand for its high-speed broadband services. Shares were little changed in pre-market trading, suggesting the market had priced in the underperformance.
Telesat’s leverage ratio improved to 4.5x from 4.7x in the prior quarter, reflecting disciplined capital management amid ongoing infrastructure investments.
