Maxar Technologies Reports Second Quarter 2020 Results

Earth Intelligence

 

Three Months Ended

 

Six Months Ended

 

June 30,

 

June 30,

 

2020

 

2019

 

2020

 

2019

($ millions)

 

 

 

 

Revenues

$

278

 

$

263

 

$

549

 

$

517

 

Adjusted EBITDA

$

146

 

$

124

 

$

279

 

$

249

 

Adjusted EBITDA Margin

 

52.5

%

 

47.1

%

 

50.8

%

 

48.2

%

For the three months ended June 30, 2020, Earth Intelligence segment revenues increased to $278 million from $263 million, or by $15 million, compared to the same period of 2019. The increase was primarily driven by a $10 million increase in revenue from international defense and intelligence customers and $5 million in revenue growth from new contract awards and expansion of existing programs within the U.S. government. Revenue from international customers increased due to a new direct access facility which became operational and contracts that signed in the second half of 2019.

Adjusted EBITDA increased to $146 million from $124 million, or by $22 million, for the three months ended June 30, 2020, as compared to the same period of 2019. The increase was primarily driven by an increase in revenues, a decrease in service costs, and an increase in income related to our Vricon joint venture.

Space Infrastructure

 

Three Months Ended

 

Six Months Ended

 

June 30,

 

June 30,

 

2020

 

2019

 

2020

 

2019

($ millions)

 

 

 

 

Revenues

$

184

 

$

181

 

$

316

 

$

391

 

Adjusted EBITDA

$

11

 

$

7

 

$

(28

)

$

5

 

Adjusted EBITDA Margin

 

6.0

%

 

3.9

%

 

(8.9

) %

 

1.3

%


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