Maxar stock tumbles in after-hours trading on earnings miss

WESTMINSTER — Satellite maker Maxar Technologies Inc. (NYSE/TSX: MAXR) saw its stock price shed about 10% in early after-hours trading Monday afternoon as a result of the company’s failure to meet Wall Street expectations for its first quarter earnings.

The company posted a net loss of $84 million, $28 million of which was attributable to the January failure of a Sirius XM Holdings Inc. (Nasdaq:SIRI) satellite.

“Without this charge, we performed in-line with our expectations for the quarter,” Maxar CEO Dan Jablonsky said in a statement accompanying Maxar’s earnings report. 

The net loss was $1.30 per share, significantly higher than Zacks Consensus Estimate of a loss of $0.06.

Sales totalled $392 million for the quarter, up from $381 million in the same period last year but more than $44 million less than Wall Street projections. 

© 2021 BizWest Media LLC

WESTMINSTER — Satellite maker Maxar Technologies Inc. (NYSE/TSX: MAXR) saw its stock price shed about 10% in early after-hours trading Monday afternoon as a result of the company’s failure to meet Wall Street expectations for its first quarter earnings.

The company posted a net loss of $84 million, $28 million of which was attributable to the January failure of a Sirius XM Holdings Inc. (Nasdaq:SIRI) satellite.

“Without this charge, we performed in-line with our expectations for the quarter,” Maxar CEO Dan Jablonsky said in a statement accompanying Maxar’s earnings report. 

The net loss was $1.30 per share, significantly higher than Zacks Consensus Estimate of a loss of $0.06.

Sales totalled $392 million for the quarter, up from $381 million in the same period last year but more than $44 million less than Wall Street projections. 

© 2021 BizWest Media LLC