Iridium Communications Lifts 2020 Outlook

(RTTNews) - Iridium Communications Inc. (IRDM) raised its guidance for full-year 2020. The company said it is well on its way to achieving its targeted leverage range and undertaking material returns of capital to shareholders.

The company now expects total service revenue growth of approximately 3% for full-year 2020. Previous outlook was for total service revenue growth between 1% and 2%. Total service revenue for 2019 was $447.2 million.

The company now projects full-year 2020 OEBITDA of about $355 million. Previous outlook was for OEBITDA of about $340 million. OEBITDA for 2019 was $331.7 million.

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