Stories about space companies’ finances, including earnings reports and M&A news.
Maxar booked $438M in revenue this quarter, down 7.3% YoY. Earth Intelligence revenue increased slightly YoY, while Space Infrastructure fell ~10% YoY. The EO mainstay noted that sales within its Space Infrastructure segment dipped (or dove) by $36M, enough to put Maxar in the red. The company’s quarterly operating loss was $30M (vs. $45M YoY). […]
Redwire ($RDW) reported Q2 2022 results before the market opened on Wednesday. The Jacksonville, FL-based space infrastructure company reported quarterly revenues of $36.7M (+14.2% YoY). Quick refresher: Commercial space powerbroker AE Industrial Partners hatched Redwire in late 2020 by merging Adcole Space and Deep Space Systems. Shortly thereafter, Redwire acquired Made in Space. The company […]
Viasat ($VSAT) kicked off another busy week of space earnings after the bell Monday. The satellite operator reported Q1 FY23 revenues of $678M (+2% YoY), with a GAAP net loss of $22M (vs. $17M of net income last year). Viasat reported total consolidated awards of $783M (+32%YoY) for the quarter, good for a book-to-bill ratio […]
Earnings season is fully upon us, with companies from both sides of the launch and satcom aisle releasing results last week. The SPAC side of last week’s reporting left much to be desired, as companies adjust to a harsh macroenvironment, program delays, and shortening runways. Starting with the launch SPACs… $ASTR: Astra won’t launch again […]
Consolidation is the order of the day in the legacy satellite world. The latest: Luxembourg-based SES and American satellite operator Intelsat are in talks to tie the knot, the FT reports. The GEO operators are long-standing competitors, and in recent memory, duked it out in bankruptcy court. Is it time to let bygones be bygones? […]
On Monday morning, El Segundo, CA-based Aerojet Rocketdyne ($AJRD) reported Q2 net income of $16.4M. Aerojet develops liquid- and solid-fueled propulsion products for major space players and missile makers. The propulsion provider missed on top- and bottom-line expectations, with quarterly earnings coming in at $0.20 per share (vs. $0.47 est. and -66% YoY). The company […]
It’s been a five-coffee-a-day week for analysts tracking the “primes” and publicly traded contractors that make up the US defense and aerospace (A&D) industrial base and sell fighter jets, weapons systems, and advanced spacecraft to the Pentagon. Of the US’ prime contractors, Lockheed posted Q2 earnings last week, with Northrop Grumman, Raytheon, General Dynamics, and […]
Boeing ($BA) Q2 results fell short of Wall Street expectations yesterday, due to weaker defense sales and program delays. Robust commercial plane orders softened the blow, and the company stuck by its forecast to return to positive free cash flow this year. The overall numbers: Operating cash flow = $100M Revenue = $16.7B, a 2% […]
Airbus ($AIR) reported its H1 2022 earnings yesterday. Supply chain issues led the European aerospace giant to cut commercial aircraft estimates, but Airbus expects little short-term impact as it maintains its free cash flow targets. The overall numbers: Revenue = €24.8B ($25.3B), a 1% YoY increase Free cash flow = €2.0B ($2.0B) Adj. EBIT = […]
Iridium ($IRDM) was doing 2020s-era space stuff before it was cool. The McLean, VA company deployed a constellation in low-Earth orbit and used those satellites to provide connectivity to devices in hard-to-reach areas around the world. It went bankrupt once upon a time, and in 2009 it went public via SPAC. Now, Iridium appears to […]
Ed. Note: This is a vastly abridged version of Payload’s “Secret Monthly Newsletter” that you can unlock by referring just one new subscriber! This month’s newsletter included access to a larger macro presentation that includes this—and much more. In less than a week, the June CPI (Consumer Price Index, an index that tracks the price […]
Space just got added to your retirement accounts. The Russell 3000, an index that benchmarks the US stock market, added several space companies Monday: Astra ($ASTR) Momentus ($MNTS) Planet ($PL) Redwire ($RDW) Rocket Lab ($RKLB) Spire ($SPIR) Terran Orbital ($LLAP) Spire and Terran Orbital touted their inclusion in the index. “We are honored to be […]
