Maxar Technologies Reports Third Quarter 2017 Results, Declares Quarterly Dividend

Maxar Technologies (TSX:MAXR; NYSE:MAXR) has announced its third quarter results ended September 30, 2017.
As quoted in the press release:

Unless otherwise indicated, all dollar amounts are expressed in Canadian dollars.

 Highlights from the quarter include:

• Consolidated revenues of $421.3 million
• Operating EBITDA of $89.9 million and margins of 21.3 percent
• Operating earnings of $44.9 million and operating earnings per share of $1.23
• Net earnings of $14.9 million and net earnings per share of $0.41
• Completed the acquisition of DigitalGlobe, changed the Company’s name to Maxar Technologies Ltd., and dual-listed its stock on the NYSE as MAXR

“With the recent closing of the DigitalGlobe transaction, Maxar Technologies is now a unique, vertically-integrated space and geospatial intelligence powerhouse with end-to-end solutions expertise for commercial and government customers,” stated Howard L. Lance, President and Chief Executive Officer. “We believe Maxar will be a powerful force for value creation through its industry-leading market position, increased scale and diversified revenue base, cost synergies and cash flow potential. We have the opportunity to drive above-industry growth across the U.S. government, international government and commercial customer segments.”
“Our DigitalGlobe business unit delivered strong third quarter results with solid revenue growth across the business, and adjusted EBITDA in line with expectations,” continued Mr. Lance. “The addition of DigitalGlobe, and the combination of its Services business with MDA’s to form our Radiant Solutions business, contributes significant advanced geospatial information and insight capabilities to Maxar, as well as adding to our growth prospects going forward.”
On October 5, 2017, the Company and DigitalGlobe, Inc. (“DigitalGlobe”) completed their previously announced merger transaction.  Due to the timing of the closing of the transaction, DigitalGlobe financial results are not included in the Maxar third quarter 2017 financial results. Selected DigitalGlobe financial results are included in this release on a US dollar and US GAAP reporting basis.

Click here to read the full press release.