Maxar Technologies Reports Third Quarter 2019 Results

Imagery

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 30,

 

 

September 30,

 

 

 

2019

 

 

2018

 

 

 

2019

 

 

2018

 

($ millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

220

 

$

210

 

 

$

621

 

$

633

 

Adjusted EBITDA

$

140

 

$

129

 

 

$

384

 

$

396

 

Adjusted EBITDA Margin

 

63.6

%

 

61.4

%

 

 

61.8

%

 

62.6

%

Imagery segment revenues increased to $220 million from $210 million, or by $10 million, for the three months ended September 30, 2019, compared to the same period of 2018. The increase was primarily driven by the recognition of $9 million of revenue as a result of the signing of a previously delayed contract with an existing international customer, $11 million in revenue growth from the U.S. government and an increase in revenue from international governments. These increases were partially offset by the loss of $14 million of WorldView-4 revenues.

Adjusted EBITDA increased to $140 million from $129 million, or by $11 million, for the three months ended September 30, 2019, compared to the same period of 2018. The increase was primarily driven by the recognition of revenue as a result of the signing of a previously delayed contract with an existing international customer. Adjusted EBITDA was also impacted by a decrease in costs during the three months ended September 30, 2019, as compared to the same period of 2018.

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