MergerJul 22, 2026, 07:06 AM
Iridium Terminates Buyback for Rocket Lab Merger; Q2 EPS $0.09
AI Summary
Iridium Communications Inc. reported a decrease in diluted EPS to $0.09 for Q2 2026, down from $0.20 in Q2 2025, despite a rise in total revenue to $225.2 million. The company terminated its share repurchase program on June 28, 2026, in connection with an Agreement and Plan of Merger with Rocket Lab Corporation. Additionally, Iridium completed the acquisition of Aireon Holdings LLC on July 1, 2026, utilizing $100 million from its Revolving Credit Facility.
Key Highlights
- Terminated share repurchase program on June 28, 2026, due to Rocket Lab merger agreement.
- Acquired Aireon Holdings LLC on July 1, 2026, using $100 million from Revolving Facility.
- Q2 2026 diluted EPS decreased to $0.09 from $0.20 in Q2 2025.
- Q2 2026 total revenue increased to $225.2 million from $216.9 million YoY.
- Net cash provided by operating activities was $185.8 million for the six months ended June 30, 2026.
- Cash and cash equivalents increased to $184.2 million as of June 30, 2026.
- Paid quarterly dividends of $0.15 per share for Q1 and Q2 2026.
Price Impact
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