DigitalGlobe Still Trying To Find The Right Model
Stephen Simpson, CFA
Stephen Simpson, CFA
DigitalGlobe Looks Too Cheap Below Book
Tue, Oct. 25, 4:16 PM
Mon, Oct. 24, 5:35 PM
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Wed, Apr. 27, 4:04 PM
- DigitalGlobe (NYSE:DGI): Q1 EPS of $0.11 beats by $0.14.
- Revenue of $175.4M (+3.5% Y/Y) beats by $8.86M.
- Shares +0.1%.
Tue, Apr. 26, 5:35 PM
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Wed, Mar. 2, 9:57 AM
Fri, Feb. 26, 2:56 PM
- Though DigitalGlobe (DGI -4.3%) beat Q4 estimates, the company has guided for 2016 adjusted EBITDA of $330M-$355M, below 2015's $355.7M (+24% Y/Y). Revenue guidance of $670M-$700M is in-line with a $694.1M consensus, but below at a $685M midpoint.
- Buybacks are lifting EPS: $44M was spent in Q4 to buy back 2.7M shares at an average price of $16.54, and $44.1M has been spent in 2016 to buy back 3.1M shares at an average price of $14.20.
- On the earnings call (transcript), DGI stated U.S. government revenue fell 5% Y/Y in Q4 to $108.7M, due to a decline in value-added revenue stemming from contract timings and the exiting of certain "non-strategic low-margin contracts." Diversified commercial revenue rose 2% to $73M, with sales benefiting from "additional image deliveries and access minutes associated with multiple crises in the Middle East."
- $111M was spent on capex in 2015, and full-year free cash flow was $159.8M. The 2016 capex budget is at $125M.
- DigitalGlobe's Q4 report, earnings release
Thu, Feb. 25, 4:14 PM
- DigitalGlobe (NYSE:DGI): Q4 EPS of $0.13 beats by $0.05.
- Revenue of $181.7M (-2.2% Y/Y) beats by $8.63M.
Wed, Feb. 24, 5:35 PM
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Mon, Feb. 22, 7:57 AM
- DigitalGlobe (NYSE:DGI) has created a joint venture with two Saudi Arabian organizations to develop a network of small satellites that will be able to revisit key areas of the globe 40 times a day.
- The deal is part of the company's drive to expand its base of government and industry customers, but also gives Saudi Arabia a stake in the expanding market for remote sensing and satellite technology.
Wed, Jan. 27, 1:20 PM
- DigitalGlobe (DGI -1.1%) says it has received a third customer commitment for direct access capacity on its high-res WorldView-4 satellite (once known as GeoEye-2), which is expected to go begin commercial operations in early 2017 following a September launch. ~60% of the potential revenue related to WorldView-4 commitments is said to be "under firm contract."
- Altogether, DGI reports receiving "contracts and letters of intent from international defense and intelligence customers totaling $335 million for capacity on WorldView-3 and WorldView-4, representing $38 million of incremental annual revenue starting in 2017."
- DGI's Q4 report is expected in the coming weeks. Shares tumbled in October following a 2015 guidance cut.
Dec. 22, 2015, 7:38 AM
Oct. 30, 2015, 1:23 PM
- In addition to missing Q3 revenue estimates (while beating on EPS), DigitalGlobe (NYSE: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