The earnings call reflects a mixed outlook for Telesat with significant achievements in debt management and LEO segment performance. However, it faces challenges in revenue decline, particularly in the GEO segment, and uncertainties in debt refinancing. The company maintains a strong cash position but has reduced net income. Overall, the highlights and lowlights appear balanced.

Company Guidance -

Q3 2025

During Telesat's Second Quarter 2025 Financial Results Call, the company reiterated its 2025 guidance, anticipating full-year revenues between $405 million and $425 million, with adjusted EBITDA projected to range from $170 million to $190 million. Operating expenses for Telesat Lightspeed are expected to be approximately $110 million to $120 million. The company plans capital expenditures between CAD 900 million to CAD 1.1 billion, primarily for Telesat Lightspeed. The call highlighted a slight increase in the committed backlog for Telesat Lightspeed, now over CAD 1 billion, adjusted for currency fluctuations. Telesat ended the quarter with CAD 547 million in cash, maintaining a total leverage ratio of 7.51x under their credit agreements. The company also noted progress in debt refinancing and CFO recruitment.

Strong LEO Segment Performance

Telesat Lightspeed's committed backlog was above CAD 1 billion at the end of the second quarter, showing slight growth adjusted for FX movements. Robust pipeline of opportunities with strong interest from aero and government segments.

Debt Repurchase and Interest Savings

The company repurchased USD 857 million in debt at USD 462 million, achieving interest savings of approximately USD 53 million annually and reducing overall debt by 36%.

Operating Expense Management

Operating expenses decreased by $6 million to $51 million due to higher capitalized engineering costs, lower consulting and share-based compensation costs.

Strong Cash Position

Telesat ended the quarter with CAD 547 million in cash and has $2.2 billion available under funding agreements with the Canadian and Quebec governments.

Positive Foreign Exchange Impact

The company recorded a foreign exchange gain of $115 million in Q2 2025 compared to a loss of $34 million in Q2 2024.

Telesat Corp (TSE:TSAT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:TSAT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2025 (Q3)	-2.28 / -	1.23	―	―	―
Aug 06, 2025	2025 (Q2)	-1.57 / 1.38	2.45	-43.67% (-1.07)	―
May 06, 2025	2025 (Q1)	-1.42 / -1.08	-1.08	0.00% (0.00)	―
Mar 27, 2025	2024 (Q4)	-1.74 / -8.97	0.74	-1312.16% (-9.71)	―
Nov 14, 2024	2024 (Q3)	-0.47 / 1.23	-0.08	1637.50% (+1.31)	―
Aug 14, 2024	2024 (Q2)	1.44 / 2.45	10.406	-76.46% (-7.96)	―
May 10, 2024	2024 (Q1)	-0.80 / -1.08	0.619	-274.47% (-1.70)	―
Mar 28, 2024	2023 (Q4)	-0.70 / 0.74	1.806	-59.03% (-1.07)	―
Nov 06, 2023	2023 (Q3)	- / -0.08	-4.688	98.29% (+4.61)	―
Aug 11, 2023	2023 (Q2)	- / 10.41	-0.158	6686.08% (+10.56)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:TSAT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	C$33.62	C$34.79	+3.48%
May 06, 2025	C$22.23	C$21.80	-1.93%
Mar 27, 2025	C$29.02	C$29.11	+0.31%
Nov 14, 2024	C$17.46	C$18.85	+7.96%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Telesat Corp (TSE:TSAT) report earnings?

Telesat Corp (TSE:TSAT) is schdueled to report earning on Nov 11, 2025, TBA (Confirmed).

What is Telesat Corp (TSE:TSAT) earnings time?

Telesat Corp (TSE:TSAT) earnings time is at Nov 11, 2025, TBA (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:TSAT EPS forecast?

TSE:TSAT EPS forecast for the fiscal quarter 2025 (Q3) is -2.28.

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