secwatch.observer — SEC 8-K summary
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Issuer:     Iridium Communications Inc. (IRDM)
CIK:        0001418819
Form:       8-K
Filed at:   2024-02-15T23:59:59+00:00
Accession:  0001418819-24-000006
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Iridium Q4 net income $38M; extends satellite life; raises dividend, guides 2024 OEBITDA $460-470M
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- Q4 net income $38.0M ($0.30 diluted EPS) vs net loss $0.8M prior year; OEBITDA $114.1M up 7% YoY.
- Full-year 2023 revenue record $790.7M up 10%; OEBITDA $463.1M up 9%; net income $15.4M vs $8.7M.
- Satellites' useful life extended by 5 years to 17.5 years, reducing depreciation and supporting capex holiday.
- Board declared Q1 dividend $0.13/share; plans to raise to $0.14/share in Q2 2024, a 5.8% increase.
- 2024 guidance: service revenue growth 4-6%, OEBITDA $460-470M; cash taxes <$10M through 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1418819/000141881924000006/0001418819-24-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1418819/000141881924000006/irdm-20240215.htm
  HTML page:      https://secwatch.observer/filing/0001418819-24-000006

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