Iridium Communications (NASDAQ: IRDM) is slated to release third-quarter 2024 earnings on Oct. 17, before market open.
The Zacks Consensus estimate for revenues is pegged at $205.7 million, indicating an increase of 4.1% from the year-ago level. The consensus estimate for earnings per share is pegged at 20 cents, unchanged in the past 60 days. In the year-ago quarter, the company reported a loss of 1 cent.
IRDM's earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched the same in the remaining quarter with the average surprise being 202.2%. In the past year, shares have lost 31.2% against sub-industry's gain of 1.3%.
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Factors to Focus on Ahead of IRDM's Q3 Earnings
Iridium's third-quarter performance is likely to have gained momentum in the Service segment's revenues and increasing subscriber base. Our estimate for segmental revenues is pegged at $155.5 million, implying a jump of 2.3% from a year-ago reported figure.
Strengthening commercial service revenues is a key catalyst. Commercial service revenues are likely to have been aided by strength in voice and data, IoT data, broadband, hosted payload and other data service business lines. We estimate commercial service revenues to be $129 million, indicating a 2.8% climb from the prior-year actual.
Revenues from voice and data are gaining from higher demand for Iridium's push-to-talk services. Commercial IoT revenues are likely to have benefited from steady demand for personal satellite communications and traditional industrial services.
Hosted payload and other data service segment is also expected to have benefited from the new Iridium Satellite Time and ...
