EchoStar CORP
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
ECHO$104.16+2.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS)
(Dollars in thousands, except per share amounts)
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · · For the Three Months Ended · | |||||||
| · · March 31, · | |||||||
| · 2024 · 2023 | |||||||
| Revenue: | | | | | | | |
| Service revenue | | $3,819,673 | | $4,180,721 | | ||
| Equipment sales and other revenue | | | 195,170 | | | 206,945 | |
| Total revenue | | | 4,014,843 | | | 4,387,666 | |
| | | | | | | | |
| Costs and Expenses (exclusive of depreciation and amortization): | | | | | | | |
| Cost of services | | | 2,557,182 | | | 2,462,600 | |
| Cost of sales - equipment and other | | | 363,083 | | | 520,060 | |
| Selling, general and administrative expenses | | | 624,422 | | | 700,772 | |
| Depreciation and amortization | | | 485,400 | | | 347,754 | |
| Impairment of long-lived assets and goodwill | | | — | | | 3,142 | |
| Total costs and expenses | | | 4,030,087 | | | 4,034,328 | |
| | | | | | | | |
| Operating income (loss) | | | (15,244) | | | 353,338 | |
| | | | | | | | |
| Other Income (Expense): | | | | | | | |
| Interest income, net | | | 30,462 | | | 68,186 | |
| Interest expense, net of amounts capitalized (Note 2) | | | (99,408) | | | (20,033) | |
| Other, net (Note 5) | | | (26,110) | | | (34,761) | |
| Total other income (expense) | | | (95,056) | | | 13,392 | |
| | | | | | | | |
| Income (loss) before income taxes | | | (110,300) | | | 366,730 | |
| Income tax (provision) benefit, net | | | 1,925 | | | (93,885) | |
| Net income (loss) | | | (108,375) | | | 272,845 | |
| Less: Net income (loss) attributable to noncontrolling interests, net of tax | | | (999) | | | 19,311 | |
| Net income (loss) attributable to EchoStar | | $(107,376) | | $253,534 | | ||
| | | | | | | | |
| Weighted-average common shares outstanding - Class A and B common stock: | | | | | | | |
| Basic | | | 271,519 | | | 269,833 | |
| Diluted | | | 271,519 | | | 307,410 | |
| | | | | | | | |
| Earnings per share - Class A and B common stock: | | | | | | | |
| Basic net income (loss) per share attributable to EchoStar | | $(0.40) | | $0.94 | | ||
| Diluted net income (loss) per share attributable to EchoStar | | $(0.40) | | $0.82 | | ||
| | | | | | | | |
| Comprehensive Income (Loss): | | | | | | | |
| Net income (loss) | | $(108,375) | | $272,845 | | ||
| Other comprehensive income (loss): | | | | | | | |
| Foreign currency translation adjustments | | | (5,591) | | | 8,124 | |
| Unrealized holding gains (losses) on available-for-sale debt securities | | | 1,452 | | | (240) | |
| Recognition of previously unrealized (gains) losses on available-for-sale securities included in net income (loss) | | | (1,528) | | | (1) | |
| Deferred income tax (expense) benefit, net | | | — | | | (126) | |
| Total other comprehensive income (loss), net of tax | | | (5,667) | | | 7,757 | |
| Comprehensive income (loss) | | | (114,042) | | | 280,602 | |
| Less: Comprehensive income (loss) attributable to noncontrolling interests, net of tax | | | (2,118) | | | 21,280 | |
| Comprehensive income (loss) attributable to EchoStar | | $(111,924) | | $259,322 | | ||
| | | | | | | | |
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