Iridium Communications Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Iridium Communications (NASDAQ:IRDM) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$201.1m (up 4.1% from 2Q 2023).
• Net income: US$32.3m (up from US$30.7m loss in 2Q 2023).
• Profit margin: 16% (up from net loss in 2Q 2023).
• EPS: US$0.27 (up from US$0.24 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Iridium Communications EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 47%.

Looking ahead, revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Telecom industry in the US.

Performance of the American Telecom industry.

The company's shares are down 1.4% from a week ago.

Risk Analysis

We should say that we've discovered 3 warning signs for Iridium Communications (1 makes us a bit uncomfortable!) that you should be aware of before investing here.

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