MDA Reports Rise in Profit and Revenue

Strong Performance in Robotics and Space Operations

MDA reported an impressive rise in profit and revenue in the fourth quarter, surpassing analyst expectations. The Canadian space technology company highlighted strong performances from its robotics and space operations, as well as satellite systems units. It anticipates this momentum to carry forward into 2024.

Financial Highlights

In the fourth quarter, MDA saw its net income increase to 13.5 million Canadian dollars ($10 million), up from 8.8 million Canadian dollars a year ago. Adjusted earnings before interest, taxes, depreciation, and amortization also rose to 52.1 million Canadian dollars compared to 39.9 million Canadian dollars previously.

Revenue Growth

Revenue in the quarter climbed by 10% to C$205 million, driven by robust contributions from its robotics and space operations, as well as the satellite systems businesses. Analysts had predicted revenue to reach C$203.8 million.

Future Outlook

Looking ahead to the first quarter, revenue is expected to range between C$205 million and C$215 million. The full-year revenue projection is set between $950 million and $1.05 billion, indicating a growth of approximately 25% compared to 2023 levels. The company foresees a significant increase in growth during the second half of the year as work volume intensifies on existing programs.

Adjusted earnings before interest, taxes, depreciation, and amortization for the year are forecasted to be between $190 million and C$210 million, with an adjusted Ebitda margin of 10% to 20%. Capital expenditures are estimated at C$210 million to C$230 million.

MDA remains optimistic about its future outlook and is poised for continued success in the coming year.