MDA Space Lifts 2026 Guidance as 3Q Revenue Rises on Satellite Momentum

Dow Jones11-05

MDA Space raised its full-year outlook after profit and revenue rose in the third quarter, driven by strong volumes in satellite systems units.

The robotics, satellite systems and geointelligence company on Thursday increased its 2026 revenue guidance to 1.9 billion Canadian dollars (US$1.36 billion) to C$1.95 billion. Previously the company expected a range of between C$1.8 billion to C$1.9 billion. The new guidance represents an 18% growth rate at the midpoint.

Expectations for adjusted earnings before interest, taxes, depreciation and amortization were also lifted to between C$355 million and C$375 million from the prior range of C$330 million to C$370 million.

The new outlook comes after the company reported a rise in net income to C$30.9 million, or C$0.19 a share, compared with C$27 million, or C$0.21 a share, a year earlier.

On an adjusted basis, earnings came to C$0.37 a share. According to FactSet, analysts were expecting C$0.29 a share.

Revenue rose 22% C$498.1 million, handily beating expectations of C$445.4 million. The rise in revenue was driven by higher volumes within Satellite Systems and Geointelligence.

Backlog at the end of the quarter fell to C$3.95 billion from C$4.01 billion at the start of the year.

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