Maxar Technologies (NYSE:MAXR) (TSX:MAXR) (“the Company”),
provider of comprehensive space solutions and secure, precise,
geospatial intelligence, will discuss at 11:30 a.m. ET on May 25,
2022, the Electro-Optical Commercial Layer (EOCL) award announced
earlier today by the U.S. National Reconnaissance Office (NRO).
FY2022 Updated Guidance Range: Management has tightened
the 2022 Revenue and Adjusted EBITDA ranges by $30M around the same
midpoint for Earth Intelligence, as well as total company results.
Earth Intelligence Revenue guidance is between $1,170M and $1,220M,
and Earth Intelligence Adjusted EBITDA guidance is between $520M
and $555M. Total company Revenue guidance is between $1,805M and
$1,855M, and total company Adjusted EBITDA guidance is between
$455M and $505M.
Award Discussion: Maxar President and Chief Executive
Officer, Daniel Jablonsky, and Executive Vice President and Chief
Financial Officer, Biggs Porter, will host a conference call on May
25, 2022, reviewing these matters, followed by a
question-and-answer session. The call is scheduled to begin
promptly at 11:30 a.m. ET.
Participants must register for the call in advance by visiting
https://conferencingportals.com/event/poKRyurD. After registering,
participants will receive dial-in information, a passcode, and
registrant ID. At the time of the call, participants must dial in
using the numbers in the confirmation email and enter their
passcode and ID.
The conference call will also be webcast live and then archived
at:
http://investor.maxar.com/events-and-presentations/default.aspx
A replay of the conference call will be made available shortly
after conclusion and can be accessed at that time using the
following information:
Instant
Replay: Toll Free North America: 1-800-770-2030
International Dial-In: 1-647-362-9199 Passcode: 81317#
Replay
available: From May 25, 2022 at 2:00 p.m. ET to June 8,
2022 at 11:59 p.m. ET
About Maxar
Maxar Technologies (NYSE:MAXR) (TSX:MAXR) is a provider of
comprehensive space solutions and secure, precise, geospatial
intelligence. We deliver disruptive value to government and
commercial customers to help them monitor, understand and navigate
our changing planet; deliver global broadband communications; and
explore and advance the use of space. Our unique approach combines
decades of deep mission understanding and a proven commercial and
defense foundation to deploy solutions and deliver insights with
unrivaled speed, scale and cost-effectiveness. Maxar’s 4,400 team
members in over 20 global locations are inspired to harness the
potential of space to help our customers create a better world. For
more information, visit www.maxar.com.
NON-GAAP FINANCIAL MEASURES
In addition to results reported in accordance with U.S. GAAP, we
use certain non-GAAP financial measures as supplemental indicators
of our financial and operating performance. These non-GAAP
financial measures include EBITDA, Adjusted EBITDA and Adjusted
EBITDA margin.
We define EBITDA as earnings before interest, taxes,
depreciation and amortization, Adjusted EBITDA as EBITDA adjusted
for certain items affecting the comparability of our ongoing
operating results as specified in the calculation and Adjusted
EBITDA margin as Adjusted EBITDA divided by revenue. Certain items
affecting the comparability of our ongoing operating results
between periods include restructuring, impairments, insurance
recoveries, gain (loss) on sale of assets, (gain) loss on orbital
receivables allowance and transaction and integration related
expense. Transaction and integration related expense includes costs
associated with de-leveraging activities, acquisitions and
dispositions and the integration of acquisitions. Management
believes that exclusion of these items assists in providing a more
complete understanding of our underlying results and trends, and
management uses these measures along with the corresponding U.S.
GAAP financial measures to manage our business, evaluate our
performance compared to prior periods and the marketplace, and to
establish operational goals. Adjusted EBITDA is a measure being
used as a key element of our incentive compensation plan. Our
senior secured syndicated credit facility (“Syndicated Credit
Facility”) also uses Adjusted EBITDA in the determination of our
debt leverage covenant ratio. The definition of Adjusted EBITDA in
the Syndicated Credit Facility includes a more comprehensive set of
adjustments that may result in a different calculation therein.
We believe that these non-GAAP measures, when read in
conjunction with our U.S. GAAP results, provide useful information
to investors by facilitating the comparability of our ongoing
operating results over the periods presented, the ability to
identify trends in our underlying business, and the comparison of
our operating results against analyst financial models and
operating results of other public companies.
EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are not
recognized terms under U.S. GAAP and may not be defined similarly
by other companies. EBITDA and Adjusted EBITDA should not be
considered alternatives to net (loss) income as indications of
financial performance or as alternate to cash flows from operations
as measures of liquidity. EBITDA and Adjusted EBITDA have
limitations as an analytical tool and should not be considered in
isolation or as a substitute for our results reported under U.S.
GAAP. We are unable to provide guidance for net income due to
uncertainties relating to the size of adjustments that may be
necessary as well as factors that could affect our interest, taxes,
depreciation and amortization.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking statements" as defined in
Section 27A of the U.S. Securities Act of 1933, as amended, and
Section 21E of the U.S. Securities Exchange Act of 1934, as
amended. Forward-looking statements usually relate to future events
and include statements regarding, among other things, our
anticipated revenues, cash flows or other aspects of our operations
or operating results. Forward-looking statements are often
identified by the words “believe,” “expect,” “anticipate,” “plan,”
“intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,”
“outlook” and similar expressions, including the negative
thereof.
These forward-looking statements are based on management’s
current expectations and assumptions based on information currently
known to us and our projections of the future, about which we
cannot be certain. Forward-looking statements are subject to
various risks and uncertainties which could cause actual results to
differ materially from the anticipated results or expectations
expressed in this press release. As a result, although we believe
we have a reasonable basis for each forward-looking statement
contained in this press release, undue reliance should not be
placed on the forward-looking statements because the Company can
give no assurance that they will prove to be accurate. Risks and
uncertainties that could cause actual results to differ materially
from current expectations include: risks related to the conflict in
Ukraine or related geopolitical tensions; the COVID-19 pandemic and
its impact on our business operations, financial performance,
results of operations and stock price; our ability to generate a
sustainable order rate for our satellite and space manufacturing
operations within our Space Infrastructure segment, including our
ability to develop new technologies to meet the needs of existing
or potential customers; risks related to our business with various
governmental entities, which is subject to the policies,
priorities, regulations, mandates and funding levels of such
governmental entities; our ability to meet our contractual
requirements and the risk that our products contain defects or fail
to operate in the expected manner; the risk of any significant
disruption in or unauthorized access to our computer systems or
those of third parties that we utilize in our operations; the
ability of our satellites to operate as intended and risks related
to launch delays, launch failures or damage or destruction to our
satellites during launch; risks related to the interruption or
failure of our infrastructure or national infrastructure; and the
risk factors set forth in Part II, Item 1A, “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2021 and filed with the Securities and Exchange Commission (the
“SEC”) on February 22, 2022, as such risks and uncertainties may be
updated or superseded from time to time by subsequent reports we
file with the SEC.
The forward-looking statements contained in this press release
speak only as of the date hereof are expressly qualified in their
entirety by the foregoing risks and uncertainties. Additional risks
and uncertainties not currently known to us or that we currently
deem to be immaterial may also materially adversely affect our
business, prospects, financial condition, results of operations and
cash flows. The Company undertakes no obligation to publicly update
or revise any of its forward-looking statements after the date they
are made, whether as a result of new information, future events or
otherwise, except to the extent required by law.
Unless stated otherwise or the context otherwise requires,
references to the terms “Company,” “Maxar,” “we,” “us,” and “our”
to refer collectively to Maxar Technologies Inc. and its
consolidated subsidiaries.
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version on businesswire.com: https://www.businesswire.com/news/home/20220525005389/en/
Investor Relations Contact: Jason Gursky Maxar VP
Investor Relations and Corporate Treasurer 1-303-684-2207
jason.gursky@maxar.com
Media Contact: Fernando Vivanco Maxar Media Relations
1-720-877-5220 fernando.vivanco@maxar.com
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