MDA Space (TSE:MDA) Posts Earnings Results

MDA Space (TSE:MDA) released its quarterly earnings data on Thursday. The company reported C$0.37 earnings per share for the quarter, FiscalAI reports. MDA Space had a return on equity of 6.60% and a net margin of 5.66%. The firm had revenue of C$498.10 million during the quarter.

Here are the key takeaways from MDA Space’s conference call:

• MDA Space reported Q3 revenue of CAD 498 million, up 22% year over year, and adjusted EBITDA of CAD 96 million. It raised 2026 revenue guidance to CAD 1.9–1.95 billion and adjusted EBITDA guidance to CAD 355–375 million.
• Bookings reached approximately CAD 1.6 billion for the first nine months, while backlog remained just under CAD 4 billion. Management cited a CAD 40 billion opportunity pipeline, including CAD 10 billion in down-selected or follow-on opportunities, though pipeline opportunities are not yet contracted.
• The first eight Globalstar replenishment satellites were successfully deployed, and the remaining nine are progressing toward delivery later this year. MDA CHORUS is nearing launch, with early customer contracts and letters of interest already providing a commercial base.
• Q3 gross margin declined to 25.3% from 26.4% a year earlier, and adjusted EBITDA margin fell to 19.3% from 20.2%, reflecting program mix and higher planned spending. Year-to-date free cash flow was negative CAD 116 million, and full-year free cash flow guidance remains neutral to negative.
• The planned Blue Canyon Technologies and CLS acquisitions remain on track for late-2026 or early-2027 completion, subject to approvals and other closing conditions; together, they would have added nearly CAD 700 million of 2026 pro forma revenue. Management said Telesat Lightspeed execution and its financial forecasts are unchanged despite schedule discussions, and cited about CAD 1.4 billion of remaining backlog on the program.

MDA Space Trading Up 2.2%

Shares of MDA stock traded up C$0.82 during trading hours on Thursday, reaching C$37.48. The company’s stock had a trading volume of 2,347,847 shares, compared to its average volume of 1,282,274. The stock has a market capitalization of C$6.08 billion, a P/E ratio of 47.44 and a beta of -0.07. MDA Space has a one year low of C$20.85 and a one year high of C$67.90. The firm’s fifty day simple moving average is C$40.74 and its 200 day simple moving average is C$44.39. The company has a current ratio of 0.75, a quick ratio of 1.00 and a debt-to-equity ratio of 20.01.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MDA shares. Desjardins upped their price target on shares of MDA Space from C$70.00 to C$72.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. ATB Cormark Capital Markets dropped their price target on shares of MDA Space from C$51.00 to C$48.00 and set a “sector perform” rating for the company in a research report on Monday, August 10th. Canadian Imperial Bank of Commerce cut their price target on shares of MDA Space from C$67.00 to C$59.00 in a report on Wednesday, July 15th. National Bank Financial set a C$55.00 price objective on shares of MDA Space and gave the company an “outperform” rating in a research report on Tuesday, September 15th. Finally, Canaccord Genuity Group lowered their price objective on shares of MDA Space from C$65.00 to C$64.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$63.18.

MDA Space Company Profile

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.