The following is a summary of the Telesat Corporation (TSAT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Telesat Q1 2024 reported consolidated revenues of $152 million, adjusted EBITDA of $111 million, and cash from operations of $76 million.

• Revenues and adjusted EBITDA decreased compared to Q1 of 2023, with adjusted EBITDA margin reducing from 75.7% in 2023 to 72.8% in 2024.

• Total leverage ratio was confirmed at 5.7 times, and they've successfully made debt repurchases to an aggregate cost of $98.9 million, signaling a reduction of 24% in overall debt.

Business Progress:

• Telesat continues progressing with Lightspeed, with all required financing in place for the first 156 satellites. They've reaffirmed their 2024 guidance, expecting full year revenues between $545 million and $565 million.

• Significant reductions in maritime capacity has led to a revenue decline, but they express confidence in remarketing their capacity and consolidating industry positions.

• Capital expenditure will largely be invested towards satellite payments, user terminals, and landing stations for the Lightspeed program.

More details: Telesat IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.