The earnings call highlighted strong progress and interest in Telesat Lightspeed, along with significant debt repurchase and interest savings. However, it was overshadowed by a notable decline in revenue, adjusted EBITDA, and net income, as well as challenges in the GEO segment, creating a mixed outlook.

Company Guidance

In the second quarter of 2025, Telesat reiterated its financial guidance for the full year, projecting revenues between $405 million and $425 million. The company expects operating expenses for Telesat Lightspeed to range from $110 million to $120 million, up from $74 million in 2024, with adjusted EBITDA anticipated between $170 million and $190 million. Capital expenditures for 2025 are forecasted to be between CAD 900 million and CAD 1.1 billion, primarily allocated to Telesat Lightspeed. Telesat ended the quarter with CAD 547 million in cash and has access to $2.2 billion under funding agreements with the Canadian and Quebec governments. Despite a decrease in second-quarter revenues by $46 million compared to the previous year, and a decline in adjusted EBITDA by $45 million to $59 million, Telesat maintained a robust adjusted EBITDA margin of 55%. The company is focused on expanding its LEO segment and reported a committed backlog for Telesat Lightspeed of over CAD 1 billion.

Lightspeed Progress and Strong Backlog

Telesat Lightspeed made steady progress in satellite, ground infrastructure, and software development, with a strong interest from customers in aero and government segments. The committed backlog for Telesat Lightspeed was above CAD 1 billion at the end of the second quarter.

Debt Repurchase and Interest Savings

Telesat repurchased USD 857 million of debt at a cost of USD 462 million, achieving interest savings of approximately USD 53 million annually and reducing overall debt by approximately 36%.

Foreign Exchange Gain

Telesat recorded a gain on foreign exchange of $115 million in the second quarter, compared to a loss of $34 million in the same period of 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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