$TSAT.TO

Telesat's Q1 Net Loss Widens YoY

Satellite operator Telesat's (TSAT.TO) loss widened year over year in the first quarter amid revenue pressures, the company said Tuesday.Telesat reported an attributable net loss of C$45.5 million, or a loss of $3.04 per share, for the three months ended March 31, compared to a loss of $15.5 million, or a loss of $1.08 per share, recorded a year ago.Analysts expected a loss of $0.93 per share, according to a consensus estimate compiled by FactSet.Revenue slumped to $87.1 million from $116.7 million, driven by the non-renewals of certain broadcast contracts and reductions in services for fixed broadband customers at its geostationary (GEO) satellite segment.The company recorded an impairment loss of $85.5 million on the GEO business.Telesat booked an adjusted EBITDA of $35 million, down 48% year over year.Despite the wider loss, Telesat reiterated its 2026 GEO revenue guidance range of $300 million to $320 million, and GEO adjusted EBITDA target of $210 million to $230 million.The company also expects to spend $1.0 billion to $1.2 billion on its Telesat Lightspeed program for 2026.

Telesat Sees FY26 Total Spend On Telesat Lightspeed Program, Including Both Expensed and Capitalized Costs, Between $1B and $1.2B

Telesat Sees FY26 GEO Adjusted EBITDA Between $210M and $230M, Excluding Non-recurring Debt Refinancing Costs

Telesat Maintaining Its Guidance Provided in March and Continues To Expect FY26 GEO Revenue Between $300M and $320M

Telesat Q1 Basic and Diluted EPS Loss $3.04 Vs Loss of $1.08 a Year Ago

Telesat Reporting Q1 Consolidated Revenue of $87M, a Decrease of 25% ($30M) Vs Prior Year