Iridium Communications Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/18 11:12

Iridium Communications (NASDAQ:IRDM) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$212.8m (up 7.7% from 3Q 2023).
  • Net income: US$24.4m (up from US$1.64m loss in 3Q 2023).
  • Profit margin: 12% (up from net loss in 3Q 2023).
  • EPS: US$0.21 (up from US$0.013 loss in 3Q 2023).
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NasdaqGS:IRDM Earnings and Revenue Growth October 18th 2024

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

Iridium Communications Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.4%.

Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Telecom industry in the US.

Performance of the American Telecom industry.

The company's shares are up 14% from a week ago.

Risk Analysis

We should say that we've discovered 3 warning signs for Iridium Communications (1 doesn't sit too well with us!) that you should be aware of before investing here.