Iridium (IRDM) Reports Q4 Earnings: What Key Metrics Have to Say
Iridium Communications (IRDM) reported $194.74 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 0.5%. EPS of $0.30 for the same period compares to -$0.01 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $193.25 million, representing a surprise of +0.77%. The company delivered an EPS surprise of +900.00%, with the consensus EPS estimate being $0.03.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Iridium performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
ARPU - Commercial - Voice and data: $45 versus the two-analyst average estimate of $45.63.
ARPU - Commercial - IoT data: $7.12 versus the two-analyst average estimate of $7.35.
Billable Subscribers - Total commercial voice and data, IoT data and Broadband service: 2,134 thousand compared to the 2,146.49 thousand average estimate based on two analysts.
ARPU - Commercial - Broadband: $294 compared to the $309.50 average estimate based on two analysts.
Net Billable Subscriber Additions - Total commercial voice and data, IoT data and Broadband service: 40 thousand versus 52.74 thousand estimated by two analysts on average.
Total Billable Subscribers: 2,279 thousand compared to the 2,286.43 thousand average estimate based on two analysts.
Revenue- Engineering and support service: $31.07 million versus $18.47 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +74.4% change.
Revenue- Service: $148.01 million compared to the $151.03 million average estimate based on four analysts. The reported number represents a change of +8.2% year over year.
Revenue- Subscriber equipment: $15.66 million versus the four-analyst average estimate of $23.09 million. The reported number represents a year-over-year change of -60.1%.
Service Revenue- Commercial: $121.51 million versus the three-analyst average estimate of $124.30 million. The reported number represents a year-over-year change of +10.2%.
Service Revenue- Government: $26.50 million versus $26.51 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Service revenue- Commercial service revenue- Hosted payload and other data service: $15.18 million versus the two-analyst average estimate of $15.03 million. The reported number represents a year-over-year change of +3.4%.
View all Key Company Metrics for Iridium here>>>
Shares of Iridium have returned -5.8% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Iridium Communications Inc (IRDM) : Free Stock Analysis Report
