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.
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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.
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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…
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