SES AI Corp Raises Full-Year Outlook Despite Missing Q3 Estimates

Deep News
Nov 06

SES AI Corp on Thursday raised its full-year revenue and profit guidance, citing early benefits from its $3.1 billion acquisition of Intelsat. However, integration costs weighed on the company's third-quarter results.

The European satellite operator now expects full-year revenue between €2.6 billion and €2.7 billion (approximately $3.0-$3.2 billion), up from its previous forecast of flat year-over-year performance.

For adjusted EBITDA, SES AI Corp projects €1.17-€1.21 billion, compared with prior expectations of maintaining levels similar to 2024. The company reported €2.0 billion in revenue and €1.03 billion in adjusted EBITDA for 2024.

SES AI Corp's Q3 core profit came in at €328 million (about $383 million), missing analyst consensus estimates of €348 million.

The July acquisition of rival Intelsat positions SES AI Corp alongside French peer Eutelsat as key European competitors to Elon Musk's Starlink and Amazon's Project Kuiper in the satellite communications sector.

"Since Day One of the acquisition, we've made significant progress integrating both companies," said CEO Adel Al-Saleh. "We've begun realizing synergies across our operations and remain on track to deliver our planned synergy targets."

The company also announced plans to distribute a final 2025 dividend of at least €0.25 per share in April next year.

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