ECHOSTAR CORPORATION Reports Q2 Fiscal Year 2023 Earnings on August 8th
August 28, 2023
🌥️Earnings Overview
On August 8, 2023, ECHOSTAR CORPORATION ($NASDAQ:SATS) released their second quarter fiscal year 2023 earnings report with a total revenue of USD 453.1 million, a decline of 9.3% compared to the same quarter in the prior year. The company’s net income for the quarter was USD 11.2 million, a 19.5% decrease from the same quarter in the year before.
Stock Price
The company’s stock opened at $21.2 and closed at $23.7, representing an increase of 1.0% from its prior closing price of $23.5. The company is expecting its earnings to continue to grow in the third quarter of the fiscal year as well, driven by a robust product portfolio and a continued focus on innovation and cost containment measures. The company is also expanding its portfolio of services to meet the changing needs of its clients.
Overall, ECHOSTAR CORPORATION has been able to deliver strong results in the second quarter of Fiscal Year 2023, and investors have responded positively to the news, sending shares up by 1.0%. Investors should continue to watch the company’s evolution as it looks to achieve longer term growth and success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Echostar Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 1.89k | 111.95 | 7.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Echostar Corporation. More…
| Operations | Investing | Financing |
| 468.93 | -752.06 | -9.35 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Echostar Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.24k | 2.57k | 42.63 |
Key Ratios Snapshot
Some of the financial key ratios for Echostar Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.1% | 22.4% | 11.5% |
| FCF Margin | ROE | ROA |
| 11.2% | 3.8% | 2.2% |
Analysis
At GoodWhale, we have conducted a thorough assessment of ECHOSTAR CORPORATION‘s fundamentals and based on our Risk Rating, we believe this is a medium risk investment in terms of both financial and business aspects. We have detected 3 risk warnings in the income sheet, balance sheet, and non-financial. As a registered user, you can access our detailed analysis and risks associated with this investment. Our analysis takes into account multiple factors to provide an objective assessment of the opportunity presented by the investment. We strive to provide you with the most up-to-date and reliable information to make the best decisions possible. More…
Peers
The company has three main competitors: Gemtek Technology Co Ltd, Edimax Technology Co Ltd, and Teleste Oyj. All three companies provide similar services and products, but each has a different focus. For example, Gemtek Technology Co Ltd focuses on providing equipment for broadband and wireless networks, while Edimax Technology Co Ltd focuses on manufacturing networking equipment. Teleste Oyj, on the other hand, focuses on providing solutions for cable and broadband operators.
– Gemtek Technology Co Ltd ($TWSE:4906)
Gemtek Technology Co Ltd is a Taiwanese company that designs, manufactures and sells a wide range of information and communications technology products. The company has a market cap of 10.26B as of 2022 and a return on equity of 3.01%. Gemtek’s products include routers, switches, wireless access points, set-top boxes, VoIP phones and other networking equipment. The company also provides contract manufacturing services for a number of electronics companies. Gemtek has a strong presence in the Asia-Pacific region and also has operations in Europe and the Americas.
– Edimax Technology Co Ltd ($TWSE:3047)
Edimax Technology Co Ltd is a Taiwanese networking company that specializes in the production of a wide range of networking solutions. The company has a market cap of 3.15 billion as of 2022 and a return on equity of 4.99%. Edimax’s products include routers, switches, IP cameras, print servers, and Wi-Fi adapters. The company has a strong presence in Asia, Europe, and the Americas.
– Teleste Oyj ($LTS:0K1Q)
Teleste Oyj is a Finnish manufacturer of broadband video and data communication systems and equipment for cable and telephone operators and other types of telecommunications providers. The company has a market cap of 63.43M as of 2022 and a Return on Equity of 3.58%. Teleste offers its customers solutions for the efficient deployment and management of high-quality voice, video and data communication services. Its products are used in cable and telephone networks, as well as in public safety and security systems.
Summary
ECHOSTAR CORPORATION released their second quarter fiscal year 2023 earnings report, showing total revenue of USD 453.1 million and net income of USD 11.2 million. Compared to the same period last year, this was a decrease of 9.3% and 19.5% respectively. This is likely to present a cautiously optimistic outlook for investors in ECHOSTAR CORPORATION, as their revenues still remain relatively high and their net income can be improved through strategic cost-cutting measures. However, continued monitoring of their performance will be necessary to determine whether or not the company can achieve long-term success.
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