Equities

SES Announces Better Than Expected Q1 2023 Earnings

By Jessica Lis
Share
Image: SES

SES, a satellite telecommunications network provider from Luxembourg, reported Q1 financial results above market expectations on Thursday. 

Overall financials:

  • Revenue = €490M ($540M), a 9.6% increase YoY
  • Adjusted EBITDA = €265M ($292M), a 3.2% decrease YoY
  • Cash & cash equivalents = -€1.1B (-$1.2B)
  • SES-17 & O3b mPOWER backlog = $1B 

SES’s next system: The company expects to begin commercial service in Q3 of its O3b mPOWER system, a communication satellite network that will serve customers such as Microsoft and Orange. SES launched two O3b mPOWER satellites this quarter, with the fifth and sixth satellites planned to launch in June. 

Looking ahead: Officials didn’t provide any updates on the possible merger with Intelsat, but CEO Steve Collar echoed his positive views about consolidation in the industry. 

Share

Upcoming Events

live event

Payload Space Happy Hour

850 South Sepulveda Boulevard, El Segundo CA, 90245
21 Aug
live event

Payload Space Happy Hour

850 South Sepulveda Boulevard, El Segundo CA, 90245
2 Oct
live event

Lunar and Mars Economy Summit

NASA Johnson Space Center, Houston TX
14 Oct
Return Home
Related Stories
Equities

Voyager IPOs at $3.8B Valuation

$VOYG went public on the NYSE on Wednesday—raising $382.8M.

EO • Equities

Planet Hits Free Cash Milestone

“People look at the changing way in which these new technologies play into security, as they have in Ukraine—drones and satellites and AI—and they realize that they need them, and they need them quickly.”

Business • Equities

Redwire Stock Tumbles on US Contract Delays

Their argument that lumpy quarter-to-quarter contract values should be expected didn’t seem to buoy investor sentiment, as the company’s stock dipped 6.5% by market close. 

Business • Equities • International

MDA Space is Safe From Trump Tariffs, Budget Cuts

MDA Space posted its Q1 2025 financial results yesterday, showing a strong quarter with revenues ($351M CAD/$252.3M), backlog ($4.1B CAD/$2.95B), and net income ($37.2M CAD/$26.7M) all up compared to the same period last year.