-=Gogo (GOGO) reported earnings on Thur 3 March 22 (b/o)

 

Gogo beats by $1.48, beats on revs; guides FY22 revs in-line

• Reports Q4 (Dec) earnings of $1.57 per share, $1.48 better than the S&P Capital IQ Consensus of $0.09; revenues rose 18.9% year/year to $92.3 mln vs the $89.28 mln S&P Capital IQ Consensus.
• Total ATG aircraft online reached 6,400, an increase of 11% compared to Q4 2020 and 4% compared to Q3 2021.
• Average Monthly Revenue per ATG aircraft online of $3,301 increased 8% compared to Q4 2020 and 1% compared to Q3 2021.
• Co issues in-line guidance for FY22, sees FY22 revs of $380-$395 mln vs. $378.84 mln S&P Capital IQ Consensus. Adjusted EBITDA in the range of $150 million to $160 million, reflecting a planned increase in Gogo 5G investment.
• Updated Long-Term Financial Targets:
  • Revenue growth at a compound annual growth rate of approximately 15% from 2021 through 2026 (versus prior target of approximately 15% from 2020 to 2025).
  • Annual Adjusted EBITDA Margin approaching 50% in 2026, up from the low 40%'s in 2022 and 2023 (versus prior target of reaching 45% in 2025).
  • Free Cash Flow of approximately $125 million in 2023 following the deployment of the Gogo 5G network in 2022 (no change from prior target), increasing to over $200 million beginning in 2025 (versus prior target of approximately $200 million in 2025).

Earnings this week : Feb 28 - Mar 4, 2022 (wk 9)

Monday (Feb 28)

• Morning:  ASTE WHD CWEN XRAY DEA HSKA HNI ITRI JLL RIDE EYE NLSN RETA TGNA VTRS
• Afternoon: DDD AAON ACHC ACAD AMBA BIGC BLNK DAR ENDP FATE FGEN FRPT GDRX GRPN HLIO HRTX HPQ JRVR LCID MRTX NKTR NVAX OSH OKE PDCE PRAA PRIM PGNY PUBM SAIL SBAC SEER SDC SRI SUPN TASK TREX VLDR VRM WDAY ZM

Tuesday (Mar 1)

• Morning: GOLF ADT AMRN AMRS APG AZO BIDU BMO BNS BSY BLDR CLVT DPZ EHTH EPZM EVRI FSS HTA HGV HZNP HRL TWNK TILE IGT ITCI SJM KSS KTB MANU MLCO NFE NOVT PRGO RDNT SE FOUR SHC TGT TMX TRS WEN XHR
• Afternoon:  DIBS AKA AMC ARLO BGS BNFT CDLX CELH CERT CCXI DOMO BROS FSLR GO GRWG HCAT HPE INO INSG IPAR JAMF JAZZ NSTG JWN PETQ PLBY RGNX RPAY ROST CRM SRPT SGMS SOFI TTEC URBN VUZI WISH WW ZIP

Wednesday (Mar 2)

• Morning:  ANF DIN DLTR DCI DY HAYW PDCO STER
• Afternoon:  AEO PLAN BOX AI CHPT CPNG DSGX FLYW GEF GSM JXN NTNX OKTA PSTG RSI SGFY SNOW SPLK VEEV VSCO ZUO

Thursday (Mar 3)

• Morning: BBY BIG BILI BJ BF.B BURL CNQ CPG GMS GOGO HLLY KR MTLS TTC TD UTZ WB
• Afternoon:  AVAV AQN AVGO COO COST DUOL ESTC EOLS FNKO GPS GDYN MRVL NCMI PAYO PBYI SG  SWBI VZIO

Friday (Mar 4)  

• Morning:  HIBB

-=Gogo (GOGO) selling commercial aviation division to Intelsat (INTEQ)

• Gogo (NASDAQ: GOGO) is selling its commercial aviation unit to satellite operator Intelsat for $400 million in cash. The business to be sold is Gogo's best-known unit, but Gogo will remain a public company focused on providing data and services to business jets.

The Gogo business currently serves 21 commercial airlines, including nine of the global top 20, and has its antennas installed on more than 3,000 aircraft. The commercial business has been under pressure in 2020, as the COVID-19 pandemic has led to a drop in airline travel. Gogo in late July said it would eliminate 143 positions, mostly in its commercial division, due to the impact of COVID-19 on aviation.

Gogo said it would use the proceeds from the sale to pay down some of its $1.2 billion in debt.

Intelsat is actually buying the business while operating under bankruptcy protection, having filed in May to restructure its debt. The company said its existing debtor-in-possession lenders, the source of the funds it needs to operate while in Chapter 11, have agreed to amend the credit agreement to facilitate the purchase and that Intelsat's key stakeholders support the transaction.

Intelsat has a constellation of satellites, but needs customers for its capacity. Combining the two businesses should give Intelsat volume, while bringing down the cost of providing Gogo's services for commercial aircraft.

"A priority growth objective for Intelsat is to extend our reach closer to the millions of customers who use our satellite capabilities to stay connected around the world," Intelsat CEO Stephen Spengler said in a statement. "The addition of Gogo's commercial aviation business is a significant step toward this goal."

=Gogo (GOGO) reported earnings on Tue 6 Nov 2018 (b/o)

Gogo beats by $0.21, beats on revs; reaffirms FY18 revs guidance, raises Adj-EBITDA outlook, lowers 2Ku aircraft guidance

Reports Q3 (Sep) GAAP loss of $0.47 per share, $0.21 better than the single analyst GAAP estimate of ($0.68); revenues rose 25.7% year/year to $217.26 mln vs the $212.01 mln S&P Capital IQ Consensus.

Co updates guidancefor FY18, continues to see FY18 revs of $865-935 mln vs. $894.68 mln S&P Capital IQ Consensus; sees Adj-EBITDA of $45-60 mln (Prior $35-45 mln), sees a 450 to 500 increase in 2Ku aircraft online (Previously guided for low-end of 550-650)

Earnings this week : November 5 - 9, 2018 (wk 45)

Notable earnings out this week

Monday (Nov 5) 

• Morning: CNA CYOU DEA DO DXPE FOLD HRTX HUD INVH KMPR KOS L NS OHI PCG PEGI PGRE RACE RBC SEAS SHO SOGO SOHU  SYY
• Afternoon: ACHC AEL AKCA ANDE APLE APTS ATRO ATUS AVD AWR BE BHF BKD BKH BKNG CAR CBT CDEV CIR COHU CRZO CTRE CXW DCO DCP DRH DVAX ELF EVBG FMC FN FNV FRGI FRPT FTDR HHC IFF INSY IPAR ITRI IVC JCOM KMT LASR LDL LMNX LPI MAR MATX MOS MTW MWA MYL NBIX NTR NVRO OAS OTTR OUT OXY P PDCE PEN PLOW PTCT RARE RCII REN RNG RYAM SBAC SNHY STRL SYKE TBI TCMD THC TROX TRTX TVTY TWOU VVC VVV WTR 

Tuesday (Nov 6)

• Morning:  AAC ABC ADM AES AFI ANIP APD AVNS BCC BCPC BDX BHC BIOS BLD BR CBM COL CORE CTLT CVS DSKE ELAN EMES EMR ETM EXPD FI FRTA FSS GCP GLDD GLT GOGO GSKY GTN GTX HAE HLNE HPT HSIC IONS IRWD JELD JLL KEYW LABL LGIH LLY LPX LXP MBUU MFA MIDD MLCO MLM MNK MYE NHI NOVT NWN OCN ONCE ONDK ORA PINC PNM PQG PRIM REGN RHP RL SAGE SERV SNH STE SUM SYNH TAST TDG TRI UNT UNVR USAC USFD VER VPG VRTV WLK WLKP ZBRA
• Afternoon:  AAXN ACAD AIMT AIZ APEI ASH BEL BOLD BWXT CCS CGBD CHUY COHR CPE CSLT CUTR CWH DAR DATA DIOD DK DOOR DPLO DVN DXC DXCM EGN ENLC ENLK ENPH ETSY EVH EVRI FANG FIVN FTK FTR G GDDY GHDX GLUU HALO HEAR HCKT IAG ICHR INFN INGN INSP IOSP JAZZ JKHY KAR KTOS LC LNT MB MBI MED MODN MTCH MXWL MYGN NEWR NP OR PAA PAAS PAGP PAHC PLNT PLT PLYA PRA PRI PRMW PSEC PUMP PXD PZZA QDEL QHC QTWO RLJ RPD RRGB SCSC SEND SIEN SUPN SWX TAHO TRUE TSLX TWLO TWO UCTT VSLR VSM WEN WSC WTTR XEC XOG ZAGG ZG 

Wednesday (Nov 7)

• Morning: ALNY AMRX ANDX ASC AVA CARS CDK CLNY CNDT CNHI COTY CRL CSTE CSWI DF DISH DLPH ENBL FOXA GEO GIB GRPN HUM HZNP ITG KELYA KORS MDP MGLN MIDD MNTA NSIT ODP PFGC RCM RDWR ROK SBGI SGRY SMG SMI SO SPNS SRE TPB TSG VAC VGR VIRT WAAS WWW
• Afternoon: AAOI ADT ALB ALRM AMBC ANGI AYX CARG CTRP  CVNA CYBR FOSL FTD GDOT IAC KDP MCHP NUS NWSA OSTK QCOM ROKU SAIL SQ TIVO TLND TRIP TTWO UPWK WYNN ZAYO

Thursday (Nov 8)

• Morning: CAH CROX DISCA EBIX ENDP HAIN HII JCI SBH SGMS
• Afternoon:  ACB AGO AGS AL ALTR AMBR AMC AMPH AQN ARA ASRT ATVI BOJA BPI BRS BW CBPX COLD COLL CTL CYRX DBX DIS DOX ECOM EGAN EPAY ERI FGEN FNKO FOE FSCT FSM FTCH GMED HDP HTZ ICUI IMPV JAG JJSF LGF.A LOPE LPSN MCFT MIME MRAM MTD NNI NTRA OSTK PDFS PRAA RBA RDFN SCOR SENS SGMO SGYP SPPI SSRM SWIR SWKS SYNA TERP TRUP TRXC TSE TTD UEPS UIS UPLD VRAY VRTU WOW WPRT WSC XON XRAY YELP ZGNX

Friday (Nov 9)

• Morning:  ADNT ERF ESNT MGI MPAA OMER OXFD PBPB RDNT SSP STWD SUP TRCO UBNT
• Afternoon: ATHN GNC OPK   

This week's biggest % winners & losers : Sep 10 - 14, 18 (wk 37)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Industrials: AVAV (116.51 +16.01%), EGLE (5.63 +15.84%),
• Consumer Discretionary: GNC (3.75 +32.04%), EROS (12.75 +15.38%), HMHC (6.8 +15.25%), DISCA (32.18 +15.13%), DISCK (29.55 +14.76%)
• Information Technology: PI (26.4 +38.22%), AMD (32.72 +19.5%), LEJU (2.26 +18.95%), GOGO (4.97 +15.85%), HDP (25.5 +15.59%), MOBL (5.65 +15.31%)
• Energy: MTRX (25.75 +22.62%), ESV (7.5 +16.1%)

This week's top 20 % losers

• Healthcare: ACOR (17.25 -37.39%), PGNX (5.62 -23.71%), NLNK (2.36 -21.59%), ADXS (0.81 -20.98%), AXGN (34.9 -14.98%), OPK (3.9 -14.91%)
• Materials: TROX (13.05 -14.2%)
• Industrials: NNBR (16.03 -19.67%), GOL (4.54 -16.24%)
• Information Technology: DBD (4.35 -14.71%)
• Energy: SD (11.02 -22.67%)
• Consumer Staples: KR (27.8 -14.12%) 

Long trade : GOGO +16% (9/18)

• Sept. 7:  #4; vol. 814K

 

Gogo Inc.(GOGO) : Moody's lowers the company's credit ratings

** charts after downgrade **  

 

Moody's lowered the company's credit ratings across the board.

In a research note published after the closing bell on Monday, Moody's lowered Gogo's corporate credit rating and probability-of-default grade from B3 to Caa1. The speculative grade liquidity rating fell from SGL-2 to SGL-3.
Moody's view of Gogo moved from "highly speculative" to "substantial risks," with a negative outlook that could lead to even further rating cuts in the near term.

-=Gogo Inc.(GOGO) reported earnings on Thur 22 Feb 2018 (b/o)

Gogo misses by $0.04, beats on revs; guides FY18 revs in-line (under old accounting rules)

• Reports Q4 (Dec) loss of $0.52 per share, $0.04 worse than the Capital IQ Consensus of ($0.48); revenues rose 17.5% year/year to $188 mln vs the $181.44 mln Capital IQ Consensus. Service revenue increased to $164.0 million, up 18% from Q4 2016, driven by a 10% increase in commercial aircraft online to 3,231, a 12% increase in ATG business aircraft online to 4,678, and increased customer usage across all segments; EBITDA +8% to $25 mln.
• Co issues in-line guidance for FY18, sees FY18 revs of $750-790 mln vs. $768.30 mln Capital IQ Consensus Estimate. Total revenue of $865 million to $935 million (or $750 million to $790 million under ASC 605, an increase of 7% to 13% from 2017) CA-NA revenue of $445 million to $485 million, of which ~20% is equipment revenue (or $380 million to $415 million under ASC 605) CA-ROW revenue of $125 million to $165 million, of which ~50% is equipment revenue (or $75 million to $90 million under ASC 605) BA revenue of $285 million to $295 million (same as under ASC 605) Adjusted EBITDA of $75 million to $100 million (or $65 million to $90 million under ASC 605, an increase of 11% to 54% from 2017). We estimate that 2018 Adjusted EBITDA under ASC 605 would be ~$15 million higher when adjusting for the accounting impact of the airline-directed model. An increase of 550 to 650 2Ku aircraft online, of which ~300 are expected to be in CA-ROW. Total 2Ku aircraft online as of December 31, 2018 of 1,100 to 1,200. Gross capital expenditures of $150 million to $170 million and Cash CAPEX of $110 million to $130 million, of which ~35% is related to airborne Cash CAPEX. In addition, we expect airborne equipment inventory purchases related to airline-directed installations of $15 million to $30 million.
• "With 2Ku aircraft online scaling in 2018 and continued rapid growth of our Business Aviation division, we look forward to delivering another strong year of financial performance as we target achieving positive free cash flow in 2019."  

=Gogo (GOGO) reported earnings on Mon 7 Aug 2017 (b/o)

CHICAGO (AP) _ Gogo Inc. (GOGO) on Monday reported a loss of $44.2 million in its second quarter.

The Chicago-based company said it had a loss of 56 cents per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 49 cents per share.

The in-flight internet provider posted revenue of $172.8 million in the period, surpassing Street forecasts. Nine analysts surveyed by Zacks expected $168.2 million.

Gogo expects full-year revenue in the range of $670 million to $695 million.

Gogo shares have climbed 42 percent since the beginning of the year. The stock has increased 28 percent in the last 12 months.

=Gogo (GOGO) reported earnings on Mon 27 Feb 17 (b/o)

Gogo beats by $0.12, beats on revs; guides FY17 revs above consensus; sees FCF positive in 2019 :

• Reports Q4 (Dec) loss of $0.34 per share, $0.12 better than the Capital IQ Consensus of ($0.46); revenues rose 16.1% year/year to $160 mln vs the $151.73 mln Capital IQ Consensus. Service revenue increased to $138.9 million, up 20% from Q4 2015, driven by a 14% increase in commercial aircraft online to 2,943, a 20% increase in ATG business aircraft online to 4,172, and increased customer usage across all segments.
• Adjusted EBITDA increased to a record $23.1 million, up 187% from Q4 2015.
• Co issues upside guidance for FY17, sees FY17 revs of $670-695 mln vs. $661.84 mln Capital IQ Consensus Estimate. CA-NA revenue of $405 million to $425 million BA revenue of $220 million to $230 million CA-ROW revenue of $40 million to $50 million. Adjusted EBITDA of $60 million to $75 million, including $50 million of expenses for the launch of new international airlines and the development of our next generation ATG technology. 2Ku installations of 450 to 550 aircraft, including ~150 aircraft in CA-ROW. Capital expenditures of $290 million to $330 million and Cash CapEx of $230 million to $260 million. The increase in capital expenditures and Cash CapEx versus prior 2017 guidance is due to additional equipment purchases for accelerated 2Ku installations and next generation ATG network expenditures.
• For the full year ending Dec 31, 2018, Gogo is providing the following guidance: 2Ku installations of 650 to 750 aircraft, including ~300 aircraft in CA-ROW. A significant decline in cash needs compared to 2017 due to a substantial decline in Gogo's average investment per 2Ku installation and a significant increase in consolidated adjusted EBITDA. Capital expenditures of $110 million to $170 million and Cash CapEx of $70 million to $120 million. The decrease in capital expenditures and Cash CapEx versus prior 2018 guidance reflects an estimate that 70% to 80% of 2018 2Ku equipment transactions will be under our airline directed business model, which will be accounted for as equipment revenue and cost of goods sold, rather than as capital expenditures and deferred airborne leasing proceeds. Excluding the impact of the expected shift to the airline directed business model, Cash CapEx guidance for 2018 would be $20 million to $30 million lower than previous guidance, driven by reductions in the cost of 2Ku equipment.
• Gogo is providing guidance that it expects to be Free Cash Flow positive in 2019.

=Gogo (GOGO) reported earnings on Thur 3 Nov 2016 (b/o)

Gogo beats by $0.03, reports revs in-line; sees FY16 revs above mid-point of prior guidance :

• Reports Q3 (Sep) loss of $0.42 per share, $0.03 better than the Capital IQ Consensus of ($0.45); revenues rose 16.5% year/year to $147.27 mln vs the $146.77 mln Capital IQ Consensus.
• "By year end, we will have between 75 and 100 2Ku aircraft installed, and we are on track to install up to another 1,200 between 2017 and 2018. The success of 2Ku, and our pending deployment of a much faster ATG system, positions us to deliver 100 Mbps speeds to far more commercial and business aircraft than any other IFC provider...We expect to be solidly generating cash in 2020 due to strong revenue growth from 2Ku and lower cash CAPEX after 2018"
• Co updates guidance for FY16, sees FY16 revs above the mid-point of the prior $575-595 mln range vs. $590.71 mln Capital IQ Consensus Estimate. 
• Affirms in-flight connectivity installations guidance
  • CA-NA net new installations of approximately 300 aircraft in 2016, including approximately 600 ATG-4 aircraft installations and upgrades
  • CA-ROW net new installations of approximately 75 aircraft in 2016
  • 2Ku installations of 75 to 100 aircraft in 2016

=Gogo (GOGO) reported earnings Thur 4 Aug 2016 (b/o)

Gogo beats by $0.09, beats on revs; guides FY16 revs in-line  :

• Reports Q2 (Jun) loss of $0.31 per share, excluding $0.20 from debt extinguishment, $0.09 better than the Capital IQ Consensus of ($0.40); revenues rose 21.7% year/year to $147.5 mln vs the $141.46 mln Capital IQ Consensus.
• Co issues in-line guidance for FY16, sees FY16 revs of $585-595 vs. $591.44 mln Capital IQ Consensus Estimate. 
• Raising installation guidance and expect 2016 consolidated revenue to be above the midpoint of guidance range:
  • In-flight connectivity installations CA-NA net new installations of ~300 aircraft in 2016, including ~600 ATG-4 aircraft installations and upgrades CA-ROW net new installations of ~75 aircraft in 2016 and more than 200 aircraft in 2017 2Ku installations of 75 to 100 aircraft in 2016 and 350 to 450 aircraft in 2017. CA-NA revenue of $350 million to $365 million BA revenue of $190 million to $205 million CA-ROW revenue of $25 million to $30 million
• Reaffirms Adjusted EBITDA of $55 million to $65 million

Gogo (GOGO) reported earnings on Thur 5 Nov 2015 (before open)

** charts before earnings **

** charts after earnings **

 Gogo beats by $0.04, beats on revs; reaffirms FY15 revs guidance; raises EBITDA :

• Reports Q3 (Sep) loss of $0.37 per share, $0.04 better than the Capital IQ Consensus of ($0.41); revenues rose 21.5% year/year to $126.4 mln vs the $123.71 mln Capital IQ Consensus. Service revenue increased to $107.2 million, up 31% from $81.6 million in Q3 2014.
  • Adjusted EBITDA increased to $9.7 million, up 738% or $8.5 million from $1.2 million in Q3 2014.
• Co reaffirms guidance for FY15, sees FY15 revs of $485-505 mln vs. $491.51 mln Capital IQ Consensus; raises FY15 EBITDA to $30-35 mln from $15-25 mln.
• "We are extremely pleased with our strong financial performance for the quarter, and even more pleased with the flight test results of 2Ku, our next generation global connectivity solution, and that portends great things for our future."

© Artremis / Eva Sawicka (11/5/15)