Street Calls of the Week
OTTAWA - Telesat (NASDAQ:TSAT) (TSX:TSAT) announced today it has completed the distribution of 62% of the equity in its Telesat Lightspeed business to an indirect subsidiary of Telesat Corporation. The company, which has seen its stock surge over 100% in the past year according to InvestingPro data, currently operates with a market capitalization of $1.14 billion.
The recipient entity is wholly-owned by Telesat Canada’s parent companies and is classified as a non-guarantor under Telesat Canada’s debt documents, according to the company’s press release statement.
Telesat emphasized that the transaction will not result in any operational changes for the company.
Telesat Lightspeed is the company’s Low Earth Orbit (LEO) satellite network designed to provide connectivity services to telecom, government, maritime and aeronautical customers.
Telesat is dual-listed on the Nasdaq and Toronto Stock Exchange under the ticker symbol TSAT.
In other recent news, Telesat Corp announced its Q2 2025 earnings, showcasing a notable increase in revenue that exceeded analysts’ expectations. The company reported earnings per share of 1.38 Canadian dollars, significantly surpassing the forecast of -1.52 CAD. Additionally, Telesat’s revenue reached 106 million CAD, outperforming the predicted 79.53 million CAD. These results reflect a strong financial performance for the quarter. Following the earnings announcement, Telesat’s stock experienced a rise. While the company’s stock price movement was notable, the focus remains on the impressive financial results. These recent developments highlight Telesat’s ability to surpass market forecasts.
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