EchoStar Posts 92-Cent Adjusted Loss as Revenue Falls 68.8%, Missing Estimates
ECHO sits 50% above its 52-week low of $65.76.
Summary
EchoStar reported a Q3 adjusted loss of 92 cents a share against a 17-cent profit consensus, with revenue down 68.8% to $1.13 billion versus $3.53 billion expected. The headline EPS of $7.97 and $2.78 billion net income are accounting gains, not operations — the 10-Q filed November 3 attributes the profit to a $3.1 billion AT&T spectrum gain and a $439 million Hughes deconsolidation gain. This follows the October 1 exit of DISH DBS from Chapter 11, which cut debt by $4.35 billion, and the ongoing Hughes Network Systems bankruptcy fight over lender control. The operating miss is the real story: the quarter's profit is non-cash, and the revenue collapse reflects the shrinking core business. The other tagged ticker, ASST, is not a party to these results.
At the time of this announcement, ECHO was trading at $98.65 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $28.7B. The 52-week trading range was $65.76 to $147.25. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.