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Intelsat cuts 2017 forecast as Epic services sales go slowly

Published 06/16/2017, 01:14 PM
© Reuters.  Intelsat cuts 2017 forecast as Epic services sales go slowly
INTEQ
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  • Intelsat (NYSE:I) says commercialization of its Epic services is pacing a little slowly, leading the company to cut its forecast for the year.
  • It's trimmed revenue expectations to $2.15B-$2.18B from a previous forecast of $2.18B-$2.225B. It now expects EBITDA of $1.64B-$1.67B vs. consensus of $1.65B (and down from a previous expectations for $1.655B-$1.7B).
  • Launches of the Epic satellites are on track, but the company says it's seeing a longer sales process involved in getting the new services sold. Pricing trends are still stable, however.
  • Shares have reversed early losses and are now up 1.6%.
  • Previously: Intelsat signs Gogo for service on first Epic satellite (Nov. 17 2016)
  • Previously: Malfunction delays service for Intelsat high-throughput satellite (Sep. 09 2016)
  • Now read: Daily Pain - Energy Stocks Surge From The Grave At The Expense Of FAANG


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