Maxar Technologies Reports First Quarter 2020 Results and
Maxar Technologies Reports First Quarter 2020 Results and Announces Award for Multiple 1300-Class Communications Satellites
WESTMINSTER, Colo. — (BUSINESS WIRE) — May 11, 2020 — Maxar Technologies (NYSE: MAXR) (TSX: MAXR) (“Maxar” or the “Company”), a trusted partner and innovator in Earth Intelligence and Space Infrastructure, today announced financial results for the quarter ended March 31, 2020 and a multi-hundred million dollar contract award to build multiple 1300-Class communications satellites for an undisclosed customer. All dollar amounts in this press release are expressed in U.S. dollars, unless otherwise noted.
Key points from the quarter include:
- Consolidated revenues from continuing operations of $381 million
- Net loss of $48 million
- Diluted loss per share from continuing operations of $1.30
- Adjusted EBITDA1 from continuing operations of $77 million and Adjusted EBITDA1 margin of 20.2 percent
- Net loss and Adjusted EBITDA included charges of $18 million related to COVID-19 and $14 million related to a recent design anomaly detected in a final satellite test procedure
- Excluding the $32 million in charges described above, net loss would have been $16 million and Adjusted EBITDA would have been $109 million
1 This is a non-GAAP financial measure. Refer...