Telesat Corporation (NASDAQ:TSAT) Q3 2024 Earnings Conference Call November 14, 2024 10:30 AM ET

Company Participants

James Ratcliffe - VP, IR
Dan Goldberg - CEO and President
Andrew Browne - CFO
John Flaherty - VP, Business Planning and Marketing
Dave Wendling - CTO

Conference Call Participants

David McFadden - Cormark Securities
Edison Yu - Deutsche Bank
Caleb Henry - Quilty Space
Walt Piecyk - LightShed
Chris Quilty - Quilty Space

Operator

Good morning, ladies and gentlemen, and welcome to the conference call to report the Third Quarter 2024 Financial Results for Telesat. Our speakers today will be Dan Goldberg, President and Chief Executive Officer of Telesat, and Andrew Browne, Chief Financial Officer of Telesat.

I would now like to turn the meeting over to Mr. James Ratcliffe, Vice President of Investor Relations. Please go ahead, Mr. Ratcliffe.

James Ratcliffe

Thank you, Latanya and good morning, everyone. This morning, we filed our quarterly report for the period ending September 30th, 2024, on Form 6-K with the SEC and on SEDAR+.

Our remarks today may contain forward-looking statements. There are risks that Telesat's actual results may differ materially from the results contemplated by the forward-looking statements, as a result of known and unknown risks and uncertainties.

For a discussion of known risks, please see Telesat's annual report and update filed with the SEC. Telesat assumes no responsibility to update or revise these forward-looking statements.

I will now turn the call over to Dan Goldberg, Telesat's President and Chief Executive Officer.

Dan Goldberg

Okay, thanks James, and thank you all for joining us this morning. Q3 and the first nine months of this year have unfolded largely consistent with our expectations. And as we noted in our earnings release, we've updated our guidance for revenues to be at the upper end of the range and for adjusted EBITDA to be at or above the top end of the range.

Q3 was eventful with our biggest news that we closed the funding for Lightspeed towards the end of the quarter. We indicated on our Q2 call that closing was on track and we're pleased to get the announcement done shortly thereafter.

I'm happy to say that we're making excellent progress so far executing the program and are pleased with the work and good collaboration we're having with our key suppliers. I'm also happy to see all the very talented new people we're bringing into Telesat as we staff up for this important program.