Telesat Reports Q3 Earnings with Positive EPS Turnaround Amid Revenue Decline
Telesat Corporation (TSAT) reported a significant turnaround in earnings per share for the third quarter, posting C$3.09 compared to a loss of C$2.38 in the prior year. Despite this bottom-line improvement, the company faced headwinds in its top-line performance, with revenue declining 20.2% year-over-year to C$80.6 million from C$101.1 million. The company's net loss widened to C$157.2 million, up from a loss of C$121.1 million in the same period last year. Additionally, operating results shifted from an income of C$6.0 million to an operating loss of C$24.5 million. These figures reflect ongoing financial volatility as the company navigates its strategic transition toward the Lightspeed satellite service.
Tickers: $TSAT
Topics: earnings report net loss operating loss revenue decline