Yahoo Finance Why Is Maxar (MAXR) Down 1.5% Since Last Earnings Report?
It has been about a month since the last earnings report for Maxar Technologies (MAXR). Shares have lost about 1.5% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Maxar due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Maxar Incurs Loss in 2022, Revenues Decline Y/Y
Maxar recently reported full-year 2022 results. The company reported a net loss per share of $2.03 for 2022 against net income per share of 63 cents in 2021.
The company reported annual revenues of $1,605 million, down 9.3% from the previous year. Weakness in Earth Intelligence and Space Infrastructure segments affected the top-line performance.
Financial Details
Revenues from Earth Intelligence declined 1% to $1078 million. The segment’s adjusted EBITDA was down to $445 million from $492 million in 2021.
Revenues from Space Infrastructure declined to $626 million from $740 million reported in 2021. The segment’s adjusted EBITDA was a loss of $32 million against the adjusted EBITDA income of 46 million in 2021.
Total quarterly adjusted EBITDA was $286 million compared with $424 million in 2021.
As of Dec 31, 2022, the order backlog increased to $3,194 million from $1,893 million as of Dec 31, 2021. The increase in backlog was primarily caused by the rise in the Earth Intelligence segment.
The selling, general and administrative costs were $431 million compared with $369 million in 2021.
Cash Flow & Liquidity
For 2022, Maxar generated $325 million in cash from operating activities compared with $281 million in the prior year.
As of Dec 31, 2022, the company had $52 million in cash, cash equivalents and restricted cash compared with $47 million in the year that ended Dec 31, 2021. As of Dec 31, 2022, the company had long-term debt of $2,194 million compared with $2,086 million as of Dec 31, 2021.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
The consensus estimate has shifted -24% due to these changes.
VGM Scores
At this time, Maxar has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Maxar has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Maxar Technologies Inc. (MAXR) : Free Stock Analysis Report
