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TSX Space Stock MDA Space Ltd. (TSX: MDA) Soars on Fourth Quarter Results

March 7, 2025 (Investorideas.com Newswire) Investorideas.com, a top rated investment site for investment and trading ideas for space and defense stocks issues an alert for space stock MDA Space Ltd. (TSX: MDA), a trusted space mission partner to the rapidly expanding global space industry.

The stock makes the TSX top percentage gainer list on 4th quarter news. MDA Space is trading at $25.99, up 43.20, gaining 14.04% as of this report on volume of over 679\, 000 shares.

MDA Space today announced financial results for the fourth quarter and year ended December 31, 2024.

News Summary

MDA Space Ltd. (TSX: MDA) reported strong financial results for Q4 2024, with net income rising to $24.4 million from $8.7 million a year earlier, driven by robust performance in its satellite systems business. Revenue increased 69% to $346.6 million, up from $205 million in Q4 2023. The company’s adjusted earnings were $0.28 per diluted share, compared to $0.23 the previous year. For the full year, revenue reached $1.01 billion, a 25% increase from $807.9 million in 2023, with a record backlog of $4.4 billion, up 42% year-over-year. MDA Space also initiated its 2025 outlook, projecting revenues between $1.24 billion and $1.3 billion.

Top posts on X

@Quality_stocksA

(posted at 05:20 PST):

" MDA Space $MDA Q4 24 results

Revenue CA$347M

Q4 23 CA$205M +69%

Est. $CA320M beat

EPS CA$0.20

Q4 23 CA$0.11 +82%

Est. CA$0.20 beat "

@MDA_space

(posted at 05:01 PST):

"MDA Space reports fourth quarter and fiscal 2024 results: [link] [image]"

@StockNirvana

(posted at 05:41 PST):

"Great results from Canadian satellite manufacturer $MDA with $1BN GlobalStar contract and a $4.4BN order backlog. Will be watching results and joining the earnings call ]"

From the news release

"In 2024, the MDA Space team delivered another year of strong execution reflected in 34% and 25% increases in revenue and adjusted EBITDA, helping to further solidify our position as a trusted mission partner and leader in the expanding space industry," said Mike Greenley, Chief Executive Officer of MDA Space.

"We continued to grow our backlog, securing the next phases of the Canadarm3 program valued at $1 billion, while advancing work on a number of important programs including the Telesat Lightspeed and Globalstar LEO constellations, Canadarm3 robotic program and MDA CHORUSTM, our next generation Earth observation constellation."

"Post quarter-end, MDA Space was awarded a $1.1 billion contract from Globalstar to manufacture its next generation LEO constellation which will include 50+ MDA AURORATM digital satellites. This award marks our third LEO constellation contract in three years and our second constellation with Globalstar, further highlighting the continued momentum we are seeing in our Satellite Systems business driven by strong customer demand for our differentiated technology."

"With a solid backlog of approximately $5 billion today, and a robust opportunity funnel, MDA Space is well positioned to deliver another successful year in 2025 as we continue to execute our strategy to capitalize on growing market demand and deliver shareholder value."

1 As defined in the "Non-IFRS Financial Measures" section

FULL YEAR 2024 HIGHLIGHTS

Order bookings for the full year totalled $2.4 billion and were largely driven by awards in our Robotics & Space Operations and Satellite Systems businesses. Backlog of $4.4 billion as of December 31, 2024 was up 41.6% compared to December 31, 2023.

Full year revenues of $1,080.1 million were up 33.7% year-over-year, exceeding the Company's full year revenue guidance of $1,045 - $1,065 million. The year-over-year increase was driven by execution on our backlog, with strong contributions from our Satellite Systems and Robotics & Space Operations businesses.

Full year adjusted EBITDA of $217.1 million was up 24.6% year-over-year driven by higher volumes across our businesses. Adjusted EBITDA margin of 20.1% in 2024 is consistent with the Company's full year margin guidance of 19%-20% and compares to 21.6% in 2023.

Full year net income of $79.4 million was up 62.7% year-over-year due to higher operating income. Diluted earnings per share of $0.63 in 2024 were up 57.5% compared to 2023.

Full year adjusted net income of $111.1 million was up 13.5% year-over-year driven by higher operating income. Adjusted diluted earnings per share of $0.88 in 2024 were up 8.6% year-over- year.

Operating cash flow of $815.6 million in 2024 compared to $13.5 million in the prior year. The year-over-year increase in operating cash flow was driven by favourable working capital contributions primarily related to the Telesat Lightspeed program.

Free cash flow of $614.8 million in 2024 compared to $(179.7) million in 2023. The year-over-year increase was driven by improving operating cash flow as a result of the aforementioned favourable working capital contributions.

Net cash position of $166.7 million at year-end compared to net debt to adjusted EBITDA ratio of 2.4x as of December 31, 2023 as the Company utilized its strong operating cash flow in 2024 to make repayments to its revolving credit facility and deleverage the balance sheet while continuing to invest in its growth initiatives.

Full news

https://ca.finance.yahoo.com/news/mda-space-reports-fourth-quarter-104500051.html

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