Maxar Technologies (NYSE: MAXR) expects the first two of its six WorldView Legion satellites to arrive at their launch site in December and deploy to space the following month, Maxar President and CEO Dan Jablonsky said in the company’s third quarter earnings call.
“The first two are essentially hardware ready, ready to ship downrange, waiting for their final software packages for the launch and the commissioning phase of the program,” Jablonsky, a Wash100 Award winner, told analysts Thursday.
Maxar had initially planned to bring next-generation Earth observation satellites carrying Raytheon Technologies-built (NYSE: RTX) sensors to orbit in 2021. However, instrument delivery, transportation and pandemic-related work challenges affected deployment schedules a few times.
The Westminster, Colorado-based space technology builder expects its public sector Earth intelligence segment to drive free cash flow generation in the coming year.
“In Earth Intelligence, we continue to gain wider traction with the investments we’ve been making, especially in our 3D and platform capabilities,” the Maxar CEO noted.
The company reported flat sales for the third quarter of fiscal year 2022 at $436 million, compared to the $437 million revenue posted in the same period a year ago.
Sales in the space infrastructure segment grew to $186 million during the July-September period from $180 million in the year-ago period, thanks to a $4 million increase in revenue from U.S. government contracts and a $2 million revenue increase from recurring commercial programs.
Total order backlog as of Sept. 30 sat at nearly $3 billion, up from $1.89 billion at the end of 2021, partly due to growth within the Earth intelligence segment.
Maxar’s shares opened slightly lower Thursday at $20.57 per share, compared to its previous close of $20.97 per share.
