- In addition to missing Q3 revenue estimates (while beating on EPS), DigitalGlobe (DGI) has respectively cut its 2015 revenue and adjusted EBITDA guidance ranges to $685M-$700M (below a $728.6M consensus) and $330M-$345M from $725M-$750M and $355M-$375M. The 2015 capex budget is still at $110M.
- The satellite imagery provider's buyback authorization has been hiked by $130M to $335M. $36.7M was spent in Q3 to repurchase 1.5M shares, providing a lift to EPS.
- Q3 details: U.S. government revenue rose 26.4% Y/Y in Q3 to $111M, while diversified commercial revenue fell 6.7% to $62.3M, primarily due to lower location service revenue. Also boosting EPS: GAAP cost of revenue fell 16% to $34.3M, and SG&A spend fell 11% to $49.6M.
- Shares are at their lowest levels since 2012.
- Q3 results, PR