EchoStar Corporation (ECHO.O): EchoStar Reports Mixed 2Q Results, Strategic Updates Likely to be a Larger Focus

Research evidence excerpt

EchoStar Corporation (ECHO.O): EchoStar Reports Mixed 2Q Results, Strategic Updates Likely to be a Larger Focus

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03 Aug 2026 08:51:19 ET │ 13 pages

EchoStar Corporation (ECHO.O)

EchoStar Reports Mixed 2Q Results, Strategic Updates Likely to be a

Larger Focus

CITI'S TAKE Buy / High Risk

Price (31 Jul 26 16:00) US$84.09 EchoStar reported mixed results with better revenue and Adj. OIBDA,

Target price US$126.00 while KPIs were generally lighter than our estimates and consensus.

Revenue was down (4.0%) vs our estimate of (4.6%) and consensus of Expected share price return 49.8%

(4.7%) with Adj. OIBDA of $681m vs our estimate of $621m and consensus Expected dividend yield 0.0%

of $641m. Wireless net losses of (118k) fell short of expectations for Expected total return 49.8%

positive additions, while Wireless ARPU outperformed. Both Pay-TV and Market Cap US$24,370M

Broadband reported wider than expected subscriber losses and softer

ARPUs. We believe any strategic updates from ECHO earnings call are

likely to be a larger focus, especially with respect to possible additional

asset sales, further details on the partnerships with SpaceX and strategic Michael Rollins, CFAAC

developments regarding Echostar Capital. We maintain our Buy/High-risk +1-212-816-1116

rating. michael.rollins@citi.com

Roberta Versiani

By The Numbers — Revenues of $3.58 billion were down (4%) yoy, above our +1-212-816-5071

expectation and consensus of $3.55 billion. Total Adj. OIBDA was $681million, roberta.versiani@citi.com

excluding impairment and other charges of $1.2 billion related to Broadband and Caitlyn Walsh

Satellite segment. That was below our estimate of $621 million and above

+1-212-816-6692

consensus of $641 million. FCF burn of ($102) million was better than our

caitlyn.walsh@citi.com