Globalstar reports Q3 EPS 0c, consensus 0c

Reports Q3 revenue $57.68M, consensus $53.74M. “Globalstar continued to sustain its record growth this year, with a significant improvement in profitability during the third quarter driven by a 53% increase in total revenue. Given the high margin nature of our revenue sources, Adjusted EBITDA increased 125% over the third quarter of last year. We continued to see momentum build outside of our wholesale services, reflecting new initiatives in Commercial IoT,” said Rebecca Clary, Chief Financial Officer. Clary continued, “As a result, we are increasing guidance for 2023 total revenue to a new range between $215 and $230 million.”