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Maxar records slight continuing ops growth after closing Canadian sale

WESTMINSTER — Maxar Technologies Inc. (NYSE/TSX: MAXR) slightly beat analyst forecasts for its continuing revenue for the quarter after completing the spin-off of its Canadian arm. The Westminster satellite and space intelligence company posted continuing revenues of $439 million, beating Wall Street consensus estimates of $411.05 million, according to finance site Seeking Alpha. The company also recorded an additional $306 million in income from the closing of its $729 million sale of its Canadian subsidiary to a Toronto private equity group. That additional income inflated Maxar’s earnings per share figure to $4.94, far greater than the consensus estimate of 32 cents and a likely one-off event. “We generated another quarter of solid revenue growth in Earth Intelligence while Space Infrastructure returned to growth on the heels of recent diversified bookings from both civil and commercial customers,” CEO Dan Jablonsky said in a statement. Maxar also completed acquisition of the remaining half of Vricon Inc., a 3D analytics firm that was a joint venture between Maxar and Swedish defense contractor Saab AB.
Source: BizWest

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