EchoStar (SATS) Q4 2024 earnings summary

Executive summary

• Achieved a strong start to 2025, well-positioned to meet or exceed full-year targets, with high employee engagement and recognition for workplace excellence.

• 2024 revenue was $15.83B, down from $17.02B in 2023, mainly due to Pay-TV subscriber declines.

• Net loss attributable to EchoStar was $119.55M in 2024, improved from $1.70B loss in 2023, aided by a $689M noncash gain from debt exchange.

• OIBDA rose to $1.63B from $1.32B year-over-year.

• Achieved positive free cash flow for the year and saw improvements across business lines.

Financial highlights

• Q1 2025 operating earnings were $436 million, or $2.10 per share.

• DTE Electric earnings were $147 million, $47 million lower year-over-year due to tax timing and higher rate-based costs.

• DTE Gas operating earnings rose to $206 million, up $46 million year-over-year, driven by favorable weather and rate implementation.

• DTE Vantage earnings increased by $31 million to $39 million, mainly from higher RNG and Custom Energy Solutions earnings.

• Energy Trading earned $34 million, with strong margins in contracted and hedged portfolios.

Outlook and guidance

• 2025 operating EPS guidance range is $7.09–$7.23, midpoint $7.16, representing 7% growth over 2024 guidance midpoint.

• Long-term EPS growth target remains 6–8% through 2029, with confidence in reaching the high end of the range.

• Five-year capital investment plan increased to $30 billion, up $5 billion, focused on reliability and clean generation.

• Dividend for 2025 set at $4.36 per share, continuing a growing dividend policy.

• Management plans to capitalize on positive wireless trends and subscriber growth in 2025.