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Israel's Gilat Satellite misses Q3 revenue estimates; says launch delays, contract timing hit forecast

By Reuters News


Overview

  • Israel satellite communications firm's Q3 revenue declined yr/yr and missed analyst expectations

  • Adjusted EBITDA rose 13% and non-GAAP net income increased 21% in Q3

  • Profitability improved despite weaker currency and bad debt write-offs


Outlook

  • Gilat revises 2026 revenue to between $455 mln and $475 mln

  • Company cites delayed satellite launches and Peru contract timing as factors impacting 2026 revenue outlook

  • Company expects 2026 adjusted EBITDA between $61 mln and $63 mln


Result Drivers

  • COST AND PRICING DISCIPLINE - Co said improved profitability was driven by cost and pricing discipline, despite weaker currency and bad debt write-offs

  • DEFENSE SEGMENT GROWTH - Defense segment revenue grew 53% yr/yr, contributing to overall results

  • DELAYS AND REVENUE SHIFT - Co cited rescheduled terminal deliveries, satellite launch delays, and later-than-expected Peru agreements as factors shifting revenue timing


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$116.23 mln

$126.65 mln (3 Analysts)

Q3 Net Income

$8.67 mln

Q3 Gross Profit

$40.80 mln

Q3 Operating Expenses

$32.90 mln

Q3 Operating Income

$7.91 mln

Q3 Pretax Profit

$9.80 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the communications & networking peer group is "buy"

  • Wall Street's median 12-month price target for Gilat Satellite Networks Ltd. is $19.20, about 153.3% above its November 9 closing price of $7.58

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 16 three months ago


Reuters Recommended Reads

  • Nov 9 - Israel's Kamada Q3 revenue up 11%, raises forecast

  • Nov 9 - Israel's Monday.com Q3 revenue rises 19%

  • Nov 10 - Israel's Protalix BioTherapeutics Q3 revenue rises, driven by higher sales to Chiesi


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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