MDA Space reports Q1 EPS 38c, consensus 34c

Reports Q1 revenue $464.1M, consensus $413.78M. “Q1 execution drove a solid start to the year, with the MDA Space (MDA) team once again delivering on our track record of quarterly year-over-year revenue growth. Our consistent performance reinforces our ability to deliver profitable growth while maintaining balance sheet strength to invest and expand, all of which contributed to a highly successful initial public offering and listing on the New York Stock Exchange. We continue to see the speed at which defence spending and demand for new space capability is shaping the market. In March, we announced a contract with Canada’s Defence Investment Agency to deliver three Ground-Based Optical observatories to support space domain awareness for the Department of National Defence. In April, underpinned by the investments we have made in our next generation commercial and dual-use product portfolio, we launched MDA MIDNIGHTTM, a space control platform ideally timed to deliver capabilities urgently needed by defence departments to protect critical space infrastructure. Equally evident was focused execution across the business with our first set of Globalstar satellites signed off and delivered to Florida for the upcoming launch, and the first shipments of our space-grade chips received for integration into MDA AuroraTM. With a $40 billion pipeline, including both commercial and government customer opportunities, we remain confident in our ability to execute on our growth plans and deliver shareholder value.”