Telesat Corporation (TSAT)
NASDAQ:TSAT
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Earnings Data
Report Date
Aug 07, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.89Last Year’s EPS
1.01Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveyed clear operational and strategic progress — notably a positive adjusted EBITDA beat, robust Lightspeed development, strategic defense-focused spectrum and partnership wins, and available project financing — but balanced by meaningful near-term financial and execution risks: a materially larger net loss, a sizable decline forecast for legacy GEO revenue, heavy Lightspeed cash burn ($1.0–$1.2B guidance for 2026), and the need to refinance $1.7B of Telesat Canada debt by December 2026. The company portrays confidence in addressing schedule and supply-chain risks (Mil Ka addition and chip supply) and expects to grow Lightspeed backlog, yet the combination of refinancing risk and elevated near-term spend tempers the overall picture.Company Guidance
Adjusted EBITDA Beat and Solid Cash Position
2025 adjusted EBITDA of $213 million exceeded guidance of $170–$190 million. Company ended 2025 with $510 million of cash on the consolidated balance sheet ($206 million in GEO, $337 million in LEO).
Revenue in Line with Expectations
Reported 2025 revenue of $418 million, consistent with prior guidance; Q4 2025 revenue was $94 million.
Progress on Lightspeed LEO Program
Significant development progress across satellites, software, user terminals and gateways; first satellites scheduled to launch at the end of 2026 with heavy cadence in 2027. Target for full global commercial service moved ~3 months to around Q1 2028; plan to have ~96 satellites for global coverage by end of 2027.
Strategic Defense Opportunity and Spectrum Update (Mil Ka)
Added 500 MHz of military Ka-band (Mil Ka) to the initial 156 Lightspeed satellites (25% of the constellation's user-link spectrum) to better address government/defense demand. Change carries no schedule impact and a modest cost of ~ $25 million (under 0.5% of the first-156-satellite program cost).
Commercial & Government Customer Wins / Partnerships
Notable commercial and government engagements include a substantial agreement with Viasat (e.g., aero services), U.S. IDIQ under the SHIELD program (approved supplier for the 'Golden Dome'), an MOU with Hanwha Systems (Korea), and selection with MDA for Canada’s ESCaPE Arctic program.
Lower Interest Expense and Debt Repurchase Progress
Interest expense declined to $200 million in 2025 from $240 million in 2024 and $270 million in 2023, reflecting an $857 million buyback of Telesat Canada debt. Non-cash interest of $29 million on Lightspeed financing was capitalized in 2025.
Capital Expenditures Focused on Lightspeed
Accrued CapEx for 2025 was $708 million (nearly all Lightspeed), below the prior guidance range of $900 million–$1.1 billion due mainly to milestone payments deferred to 2026 — demonstrating controlled timing of cash outflows.
Available LEO Financing to Support Build
LEO cash of $337 million plus $1.82 billion available under Lightspeed financing and $325 million of vendor financing expected to be sufficient to fully fund Lightspeed through to global commercial service.
TSAT Earnings History
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
TSAT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $48.62 | $47.79 | -1.71% |
Mar 17, 2026 | $35.50 | $42.34 | +19.27% |
Nov 04, 2025 | $29.72 | $26.59 | -10.53% |
Aug 06, 2025 | $24.18 | $25.47 | +5.33% |
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 Corporation (TSAT) report earnings?
Telesat Corporation (TSAT) is schdueled to report earning on Aug 07, 2026, TBA (Confirmed).
What is Telesat Corporation (TSAT) earnings time?
Telesat Corporation (TSAT) earnings time is at Aug 07, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TSAT EPS forecast?
TSAT EPS forecast for the fiscal quarter 2026 (Q2) is -0.89.