Maxar Technologies Reports Second Quarter 2020 Results

________________________
1
This is a non-GAAP financial measure. Refer to section “Non-GAAP Financial Measures” in this earnings release.
2 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.

Financial Highlights

In addition to results reported in accordance with U.S. GAAP, we use certain non-GAAP financial measures as supplemental indicators of its financial and operating performance. These non-GAAP financial measures include EBITDA and Adjusted EBITDA. We believe these supplementary financial measures reflect the Company’s ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business.

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

 

 

2020

 

2019

 

2020

 

2019

($ millions, except per share amounts)

 

 

 

 

 

 

 

 

Revenues

 

$

439

 

$

412

 

$

820

 

 

$

843

Income (loss) from continuing operations

 

 

 

 

139

 

 

(78

)

 

 

71

Income from discontinued operations, net of tax

 

 

306

 

 

9

 

 

336

 

 

 

20

Net income

 

$

306

 

$

148

 

 

258

 

 

 

91

EBITDA1

 

 

441

 

 

294

 

 

533

 

 

 

382

Adjusted EBITDA 1

 

 

138

 

 

108

 

 

215

 

 

 

207

 

 

 

 

 

 

 

 

 

Diluted income per common share:

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

 

$

2.32

 

$

(1.29

)

 

$

1.19

Income from discontinued operations, net of tax

 

 

4.94

 

 

0.15

 

 

5.56

 

 

 

0.33

Diluted income per common share

 

$

4.94

 

$

2.47

 

$

4.27

 

 

$

1.52

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding (millions) :

 

 

 

 

 

 

 

 

Basic

 

 

60.6

 

 

59.6

 

 

60.4

 

 

 

59.6

Diluted

 

 

62.0

 

 

60.0

 

 

60.4

 

 

 

59.8

 

1 This is a non-GAAP financial measure. Refer to section “Non-GAAP Financial Measures” in this earnings release.


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