EchoStar Q2 FY2024: revenue down 9.3%, a $205.6 million net loss
EchoStar's second quarter of FY2024 was a loss-making quarter: revenue of $3.95 billion fell 9.3% from $4.36 billion a year earlier, operating income of $0.25 billion turned into a $65.4 million operating loss, and the net loss attributable to EchoStar was $205.6 million, or $0.76 per share. Read the numbers together with the balance sheet: cash and marketable securities of $0.52 billion sit against $21.76 billion of debt.
1 · Expected vs. Actual
Free preview belowThe GAAP loss was $0.76 per share on 271.6 million weighted-average shares, with the net loss attributable to EchoStar at $205.6 million for the quarter and $313.0 million for the six months. An operating loss of $65.4 million, $81.2 million of net interest expense and $91.5 million of other net expense drove a pretax loss of $224.1 million, partly offset by a $16.6 million tax benefit. Cost control helped, but not nearly enough: SG&A fell to $0.60 billion from $0.76 billion, while depreciation and amortization rose to $0.51 billion from $0.37 billion.
Revenue of $3.95 billion was down 9.3% from $4.36 billion in the same quarter last year, and the first half fell 8.9% to $7.97 billion. Service revenue of $3.74 billion carried 94.7% of the total, while equipment sales and other revenue was just $0.21 billion. Cost of services plus equipment cost of sales came to $2.92 billion, so gross margin was 26.2%, down from 31.7% a year earlier.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-18
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