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The Brampton, Ont.-based aerospace company reported $499 million in second quarter revenue, while net profit rose 2.6 per cent to $27.9 million. Its satellite systems, robotics and space operations, and geointelligence businesses all grew. (The Logic)
Talking point: MDA raised the midpoint of its full-year revenue forecast to $1.85 billion from $1.8 billion after first half revenue climbed 33 per cent year-over-year. The company ended the quarter with a $4-billion backlog—or future contracted revenue—which has since grown to $4.4 billion with MDA’s recently expanded Telesat Lightspeed contract. CFO Guillaume Lavoie said on Friday’s earnings call that the expansion alone is expected to add more than $150 million in revenue in 2027, with a similar contribution in 2028. CEO Mike Greenley said rising defence spending and efforts by Canada and its allies to build more sovereign capabilities are also driving new international opportunities for the company in Europe and other markets.
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