ECHO

Image source: The Motley Fool. Monday, Aug. 3, 2026 at 12:00 p.m. ET Acting Chief Legal Officer and Secretary - Jeffrey Blum Chairman - Charles Ergen Chief Financial Officer - Paul Orban Chief Operating Officer - John Swieringa Operator: Greetings, and welcome to the EchoStar Corporation Q2 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Jeff Blum, Acting Chief Legal Officer and Secretary. Thank you. You may begin. Jeffrey Blum: Good afternoon. I'm here with Charlie Ergen; Paul Orban, our CFO; and John Swieringa, our COO. We will begin with opening remarks from Charlie, followed by a question-and-answer session. We ask that any participant producing a report not identify other participants or their firms in such reports. We also do not allow audio recordings. All statements we make during this call other than statements of historical fact, constitute forward-looking statements made pursuant to the safe harbor provided by the Securities Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to be materially different from historical results and from any future results expressed or implied by the forward-looking statements. For a list of those factors and risks, please refer to our annual report on Form 10-K for the fiscal year ended December 31, 2025, our 10-Q filed today and our subsequent filings made with the SEC. This information and supplemental materials relating to today's call will be posted on our Investor Relations website. All cautionary statements we make during the call should be understood as being applicable to any forward-looking statements we make wherever they appear. You should carefully consider the risks described in our reports and should not place any undue reliance on any forward-looking statements. We assume no responsibility for updating any forward-looking statements. We refer to OIBDA and free cash flow during this call. The comparable GAAP measure and a reconciliation for OIBDA is presented in our earnings release and in the case of free cash flow in our Form 10-Q as filed today with the SEC. With that, I'll turn it over to Charlie. Charles Ergen: Thank you, Jeff. We're just going to take questions. But before we take questions, I just want to give a few opening comments. As you all know, August 1, we had a $1.5 billion bond maturity for Hughes Corporation. We had discussions with the bondholders, but weren't able to come up with a workable solution. So we filed Chapter 11 bankruptcy this morning for Hughes. I want to make just a couple of points on that. One is this filing is strictly limited to the Hughes entities. It does not include EchoStar Corporation, our other non-Hughes subsidiaries or even Hughes international entities. Second, we have first day motions this afternoon in front of the court to ensure that Hughes continues to operate in normal course of business. And that means we're paying our employees, we're delivering for customers and channel partners as usual, and we expect to fulfill all ongoing forward commitments to our vendors. And third, we don't know how long bankruptcy will take before we can emerge restructured. As a result of the litigation that is expected in this, we won't take questions on Hughes, but I would refer you in our -- we are -- you do -- are referring to our press release, there's a link to our filing that I think lays out, chapter and verse, the details there. So with that, we'll take questions. Operator: [Operator Instructions] And your first question comes from David Barden with New Street Research. David Barden: I guess I wanted to start with, Charlie, no one probably knows better than you the discount to which EchoStar trades to its remaining portfolio of assets and SpaceX. Now that you've got the AT&T money, it would seem a logical thing to start buying back stock. And if not, why not? And what would be the priority for that capital next? Charles Ergen: Yes. Thanks, David, for the question. I think the way -- first of all, you did -- you will see in the 10-K -- 10-Q, I guess, that we did increase the authorization. The Board increased the authorization on -- from up to $5 billion of buybacks. So it's obviously, one of the things that we look at based on our capital structure is -- one of the things that we look at, I would say, first and foremost, we look at investing in our business. So we look at our existing businesses to invest in and the opportunities there. And then EchoStar Capital now under the leadership of Tom Cullen. We look at other things we can look at, which could include our own company. And then after that, if we can't find anything there, then you can work all the way down to paying dividends. So we've been a good steward of capital for a lot of years, and I hope we'll continue to do that. Operator: Your next question comes from Brent Penter with Raymond James. Brent Penter: A couple for me. First one to follow up on David's question. You mentioned EchoStar Capital, and that was folded under the corporate development arm. Does that represent any change in philosophy about how you're investing at EchoStar Capital? And any change to the list of kind of opportunities you gave back in November last year? Charles Ergen: Yes, Brent. No, really no change other than it's probably a little bit more efficient since we're kind of under one roof and probably move a little bit faster just because we're like literally in the same area in the company. And obviously, Tom comes with a wealth of experience in long term with -- in the industry, not just at EchoStar. Brent Penter: Okay. Got it. And then on the SpaceX transactions, given where the SpaceX market cap is today compared to the $400 billion valuation it was when you signed the deals, the implied value is obviously much higher. How do you size the expected tax payment today? And then are you doing any hedging on that? Or have you all had any discussions with SpaceX about alternative ways that you could structure those deals to reduce or delay those taxes? Charles Ergen: Yes, Brent, those are all good questions. The -- I guess the way I try to answer your question is we still are of mind that the cost of finalizing the liquid -- the termination of our wireless network and our tax liability is in that $5 billion to $7 billion range. The -- we don't know the answer on where we're going to be there. It could be a little higher, a little lower than that. A, obviously, is litigation on the termination of the network. And there -- obviously, we don't know where SpaceX will be in the future. But we know that -- and we know that there's things like 1033 exchanges and things that can reduce tax liability. So we're in that $5 billion to $7 billion range in terms of what we think it's going to be, but that includes our wireless network termination. So that -- but we're not -- again, we're a good steward of capital. So we're looking at everything and how we can make sure that we take care of capital the best way. Brent Penter: Okay. Got it. And then how are you all thinking about Boost Mobile strategically? And if you wanted to engage in any kind of M&A or partnerships in that business, how restrictive are the NSA and MNSA contracts with T-Mobile and AT&T and changing control provisions there? Charles Ergen: Well, I wouldn't get -- I can't get into the actual contracts, but I talk about Boost in general. One is we haven't -- as management, we haven't cracked the code on how to be successful to the level we'd like to in the wireless business. In general, we've treaded water for 4 years now. We were slightly cash positive in the quarter, but we did lose subscribers. But having said that, the -- we have new leadership with Bob Rupczynski, who joined us 4 or 5 months ago, and he's certainly taken a fresh approach. We think we have some strategic initiatives going forward that will reinvigorate that part of our business. In general, we're not -- we -- all of our businesses have to run at a profit long term. And they have to have a right to exist and because everybody is only as good as their last quarter. So we like the business. We're disappointed that we haven't done better in it. It's a great challenge for us. But it's strategically important for us. And we do have a fair amount of flexibility in our -- contractually to -- whether it be M&A or partnering with people. And we'll continue to see if we can figure out how to be productive there. Operator: Your next question comes from Sebastiano Petti with JPMorgan. Sebastiano Petti: Charlie, just maybe going back to David Barden's question, just -- I mean, why increase the buyback from $2 billion to $3 billion, but yet be out of the market? I mean is there anything like that is precluding EchoStar from buying back stock currently in the market? And then maybe just a follow-up, thinking about the remaining assets, particularly AWS-3. I mean how are you thinking about that now on the other side of the auction and perhaps maybe time line? And I think would there be any debt that would need to be paid off from the sale of the AWS-3 spectrum at this point? Charles Ergen: Yes. We do have some restrictions in our -- on buying back stock in our bond indentures. So I don't know how public those are, but we do have some restrictions. The way I would look -- Sebastiano, the way I'd look at EchoStar or the way I look at it or I think the way we look at it is that having closed the AT&T transaction, right, and putting $2.4 billion into an escrow for the closing down of our network that is mandated by the FCC. And put that $2.4 billion aside, we have about -- when you look at the total company, we have about $14 billion or $15 billion in cash. We have that $5 billion to $7 billion liability in our opinion, going forward, which includes the $2.4 billion. And then we still have -- we have Boost, which we haven't shown we can -- it's certainly a valuable company or potentially a valuable company. And we have our traditional video business, which continues to throw off cash. And then in addition to that, we have 261.8 million shares of SpaceX. And obviously, you can figure out at least publicly what the value of that is. And then we have spectrum -- still a solid spectrum position of AWS-3, CBRS, 700 megahertz, et cetera, that you could take a stab at in terms of valuation. And we have -- excluding Hughes, which is obviously in the restructuring process today and which will ultimately get sorted out, we have about $5 billion of cash -- I mean, of debt. And we have another almost $8 billion of debt that SpaceX transaction will pay at closing. And then we have $1.9 billion of convert debt that at this point is in the money with converts. So you end up with a company that's cash rich, not much debt. You can -- we're pretty easy to look at the value. And then obviously, the conglomerate discount that people give to the marketplace or the lack of confidence in management or whatever the discount rate is, that's how you value the company. And then going forward, we're going to, as we always have, look for opportunity and manage the business in a respectable fashion. This year is interesting because we're -- a lot -- unfortunately, a lot of focus is really just cleaning up the network shutdown and now cleaning some of that up through the courts just because we had no other choice but to do that. And then getting into the position to focus our company on moving forward with all the opportunities that we have. And then in addition to that, that pivot to an asset -- a cash-rich company, there's a pivot. Every company is going through the pivot to AI and how it affects your business. And our company wasn't built for AI. We didn't know anything about it years ago. And so we have to pivot. And in a funny sort of way, there's a restructuring going on within EchoStar to say, how do we take advantage of that paradigm shift of how AI changes businesses and the way businesses operate. And I think a lot of our success in the future will be dependent on how well we do with that. And it's certainly way too early to tell how we're going to do with that. But culturally, our team is excited about it and very focused on it. Operator: Your next question comes from Walter Piecyk with LightShed. Walter Piecyk: Just a question on the DBS prepackaged proceedings. I know bidders could still obviously potentially emerge during this process. But assuming that you end up being the kind of stalking horse bidder for the -- and the winner of those assets, just thoughts on like what you do with the radios. Has there been any appetite in the market for the redeployment of those radios for like a wholesale fourth network? And any other assets that you might end up effectively still owning at the end of that reorg? Charles Ergen: It would be -- Walt, it would be way premature to speculate on that. I mean I think that the -- you can see our stalking horse bid, I think, was potentially $300 million, somewhat less than that because of cash on hand. So you can hypothesize that there's not -- that at least in our opinion, there's not a lot of liquidation value there. So I think it's relatively immaterial in the scheme of things when you look at the other assets that we have. Walter Piecyk: Got it. And then on the... Charles Ergen: I think -- and Walt, I cut you off there. I think the more important thing, the way I would look at it is we're a unique company in the sense that -- and in the sense that we have mobility through Boost, we have a lot of broadband relationships, not the least of which is through SpaceX and we have video. And so we know connectivity pretty well and connectivity is going to take a lot of different shapes for customers, but most customers are going to need WiFi, broadband, whether that be through a cable or satellite, probably maybe some people with both. People still have video needs, and we're uniquely positioned to do that. And because it looks to me like in terms of an actual network, the Big 3 network have done a good job of building a pretty big moat around their businesses. And we kind of play with one foot in that business as well. So the real key is the knowledge base we have, the fact that we play in a lot of different places in the connectivity field, I think will be helpful for us going forward. We have to prove it, of course. Walter Piecyk: You bid also in the re-auction of the DE stuff. Do you have plans to bid in the upcoming C-band auction? And -- or does anything you -- any deal that you have with the FCC where, obviously, you've committed to sell your existing spectrum, does that prohibit you from bidding in upcoming auctions or even secondary market transactions for spectrum? Charles Ergen: Yes. The auction rules aren't out for the C-band auction, but we would anticipate that we would not be prevented from participating. And we've participated, I think, in every auction since that -- since the first one. We don't -- I don't think -- actually, the first one was a satellite auction we participated, but the first terrestrial, we did not participate in, but we participated in ones after that. So I don't think we'll be prevented. Whether it would make any sense for us to participate given where we are, that's a whole different question, and we certainly haven't analyzed that. Secondary market transactions, if there was something that we thought was strategic and important that would enhance the value of our company, we would look at it. Walter Piecyk: Just one last question. This EchoStar Capital, the last time this topic was discussed, I think the way Hamid at the time had answered it made it seem like the top priority was like finding new investments and taking all this capital that you're getting from the spectrum sales and finding new stuff. It sounds a little different in terms of the tone where you're saying, obviously, invest in what you already have, right, and then share repurchase and dividends. And I know it was mentioned kind of new initiatives, but is that kind of deprioritized in terms of the use of capital when all this cash starts flowing in from the spectrum sales? Charles Ergen: Yes. No, I think I would say it a different way. I think obviously, investing in our core businesses today where we have opportunities. But secondarily, we would -- the second thing we'd look at is the opportunities that Hamid has already identified. He identified quite a few and quite a few relationships, some of which we already had. So I think we would look at returns there. And then as part of that, as a subset of that, you would look at your own company, right? If you -- it just depends on how you would evaluate those opportunities. But we're -- and I guess I'd say a cautionary note, we're going to be patient. I mean, the market is pretty frothy. It -- we're not going to rush out to do something and overpay for something just because we have money. So it's -- I can only tell you if I'm playing poker, you can have -- you can win a few big hands and you're still going to bet the same way, right? It's still, I'm playing the odds. And it's pretty frothy right now. So we probably are more cautious -- we'd probably be more cautious than some. Operator: Your next question comes from Michael Rollins with Citi. Michael Rollins: Just curious, Charlie, if I could ask a follow-up to that and then a second question. So the follow-up, when you discussed being more cautious than some, does that also apply to the value of EchoStar? Or is that specifically relating to other investments or new investment opportunities? And then secondly, just if you're able to clarify, did I read correctly that you're still waiting on a waiver from the FCC with respect to holding on to your spectrum without a network? And is there any outstanding risk that the FCC could take back remaining licenses that you still control and own that may preclude you from monetizing the spectrum you discussed earlier, the AWS-3, the CBRS, the 700 megahertz? Charles Ergen: Okay. I'll take the first part, and then Jeff will take the second part. We're cautious about everything. That includes EchoStar. We're just cautious on the marketplace in terms of -- a lot of our value is based on SpaceX. So we're just cautious on the -- we're not pessimistic. We're just cautious because things are at historical highs in almost every metric. And so that's all. That may be stupid, that may be smart. We don't know. Jeffrey Blum: In terms of spectrum, so in September, as you know, the FCC from the Chairman confirmed that we had met our build-outs, we had met our commitments. So that is sort of the last official statement from the FCC. As you mentioned, we have filed a waiver for our remaining spectrum licenses to sell those for fair value in exchange for an extension of building out the network. We're awaiting that. It makes sense now that we don't have a network any longer for that to be granted. So we hope the FCC will rule on that in the near term. Operator: Your next question comes from Bryan Kraft with Deutsche Bank. Bryan Kraft: I have a few, if I could, mostly follow-ups. I guess, first, just going back to the buybacks. Will you be seeking an amendment to the covenant that's restricting share repurchases? And then also related to that, would you consider buying back the converts in the open market, which I don't believe would need an authorization? And then on the investing side, I was just wondering if you could elaborate on the change in strategic direction that was alluded to in the 8-K announcing Hamid's resignation and what that really meant. And then just going to the topic of DBS consolidation, which, obviously, there's a carve-out for in the covenants in the prepack. One of the worries that investors have is that DISH could end up being the buyer in that scenario. I know the last time, obviously, DIRECTV was the buyer. So just curious how you're thinking about at this point, if there were going to be a combination, I know that's not a guarantee, is it more likely that it would be similar to the September 2024 merger agreement where DIRECTV was the buyer? Or would you be open to being the buyer? And then just the last one, I just wanted to sort of do a reality check with you on just maybe what the risk is on the time line for the DISH Wireless and DISH DBS bankruptcies just given the opposition from the infrastructure companies. Charles Ergen: Yes. I'll take that last one, the time line of DISH Wireless first. I think our confirmation hearing -- it's a confirmation hearing, is set for October 13. So I think our expectation today is that's going to -- the DISH Wireless bankruptcy could be wrapped up in the fourth quarter this year. Now I'll go back to your first question, buybacks. I mean, we are -- we do have some restrictions on buyback. And to the extent we ever wanted to buy something back, we'd look at whether that was even possible. And if it wasn't, what we would do. But we like -- we look at everything, right? The converts, it's my understanding that we don't have any restrictions on buying converts, but whether that would make sense for us is a whole another question. Change in investing, Hamid had done a lot of work on that side. And again, a lot of things that he put in place, he's kind of handed off to Tom. And I don't see a change in that strategy other than we forced -- other than we -- because we're all kind of at a one place now and we're all -- kind of daily conversations, so just communication is a little bit better. I think we look at our core businesses first a little, and Tom is heavily involved in that. So he had additional things going on that Hamid didn't have going on. Now that's all combined. And so the priorities are still pretty much the same. Look at our business, look at other opportunities. And if we can't find anything, use our capital, whether it be stock buybacks or dividends. So good management is going to find opportunity. But because things are frothy, I think opportunities are a little bit harder because there's a lot of cash on the sidelines and some pretty interesting valuations out there. Bryan Kraft: Am I hearing you correctly... Unknown Executive: DIRECTV question... Charles Ergen: DIRECTV. The -- I've always said it's inevitable to put the companies together. We've probably squandered some opportunity to do that because obviously, the synergies -- there's still synergies there, but they're obviously not as high as they would have been before. But I think we would look at it. We have no preconceived notions if there was a willingness on DIRECTV's part to put -- to do something with the companies and what that might look like, buyer, seller, joint, we have no preconceived notions of that. The question would be, is there something at the right value. We think we're playing a little bit longer-term game at DISH. We do -- we are investing in that business. We're investing in how we approach the customer and the customer relationships. It doesn't exactly -- in the short term, that's kind of a negative to OIBDA or EBITDA, right? You could have a shorter-term approach and make those numbers go up. And we have to look at it from a holistic perspective and say, we know the business well. We know the industry well. And I think we have pretty good ideas of valuations. If there's something where people could agree on valuations or agree on incentives going forward, then that would be -- when I say invest in our business, that's one of those things where you would invest in. But if somebody made the right offer, it's not a critical component of what we have to have going forward. But we like that business. So... Bryan Kraft: And just on the buyback, I mean, Charlie, it sounds like you don't have any real plan to buy back stock and maybe you're even a little cautious on the valuation of EchoStar because of the valuation of SpaceX, even though your stock is trading at like a 50% discount to NAV and you're increasing the authorization to $5 billion. I think we're all kind of struggling to understand what the real message is here and why you increased the authorization while you sound like you don't really have any plans to buy back stock. Is there like something that we're missing here? Or can you maybe shed a little more light on that? Charles Ergen: Yes. I mean yes, you're missing the fact that, a, good management gets themselves in a position to have flexibility. So obviously, a larger buyback doesn't require us to buy anything back. But should the marketplace be displaced or we see an opportunity because we don't have other opportunities, then we're positioned to do something if we want to. I think also missing that -- I know you got to write reports and you got to analyze things. But again, this is a company that's got a 46-year track record of managing capital and running a relatively successful business despite massive changes sometimes in our future over those 46 years. So the -- I don't think we fit into the normal box of professional management, multiple of EBITDA, come to conferences and talk about how great you're going to do and get to the end of the quarter and do unhealthy long-term things to make a particular number. I mean, we think about it long term. We think about growing value for our shareholders long term, and we try to make the best decisions. We're making decisions that an owner would make, right? An owner that believes in building long-term value, and it doesn't fit into the normal box of what you might do. So as a result of that, I'm not trying to be evasive. We don't know what we'll do with our capital other than we believe that with our capital, we'll be prudent. And it will -- we probably have some mix of risk in terms of some things we take relative risk on and in some places, we're conservative. But we're generally conservative as a company, right? It's rare that we take a big risk. We've had to do it a few times. Most of the time it's turned out successful, but we're generally a conservative company. Bryan Kraft: I certainly appreciate that. I do think there's a big opportunity to create long-term value though, because of that NAV discount. And that was more the nature of the question. Charles Ergen: Yes. I mean, I think it's Captain Obvious. Operator: [Operator Instructions] Your next question comes from Mark Dunbar with JPMorgan. Mark Dunbar: Just given all the various lawsuits and machinations over the past year, just wondering how you think about access to the capital markets going forward. Obviously, you have a lot of cash but would like to just get your thoughts on that. Charles Ergen: Well, a, I don't think we need access to the capital markets today. So we're not really thinking about that. But I do think it's important to try to work with our bondholders to get to a good solution. And I include vendors in that. I mean the tower companies did a good job for us. But on the other hand, they made a lot of money on us and they're going to lease out their capacity to others. And so the way I look at it to do things professionally and realistically and unemotionally, and that's what we'll try to do. I've said this many times, it's unfortunate that particularly the tower companies instituted litigation because it stopped the communication. You now have lawyers on both sides. Lawyers make money by litigating. They have no incentive to try to get clients together and you end up going through attorneys and it takes a while. It takes much longer to get to the right answers, which to -- which normally ordinary people who are realistic and want to get to a solution that's better than not having a solution, it just takes longer time. So it's unfortunate that the litigation happened. But I knew as soon as that started getting litigated that, that was going to lead to a much longer procedure. Now we have a third party, which is a judge in bankruptcy and the third party is going to make decisions for us, which we may -- which one side or the other may like or not like. My experience has been, I'd rather make that decision myself and in negotiation, but it takes two to tango. Operator: And your next question comes from Michael Abatemarco with Helix Partners. Michael Abatemarco: I just was wondering if you'd be able to clarify the $5 billion to $7 billion liability as it relates to the SpaceX taxes. Does that also include the kind of appreciation in value in SpaceX? And does that include any kind of 1033 dynamics? Charles Ergen: It really -- the answer is it's taken all those variables into account and against our best guess, but it could be a little higher, a little lower. It's just we're trying to give you some indication of where it might be. So if you took -- take the high end of that, took $7 billion and said, here's where we think it's going to be, you probably got a model that's realistic for what we know today. So we're trying to give you some guidance, but we don't normally give guidance, and I guess, don't even take this guidance as guidance, but it's our best guess. And there -- what makes it difficult is there are a lot of variables because there could be 1033s, there could be other things that affect -- we have litigation that's going to affect the shutdown cost of the network. We have -- so obviously, it could be higher given where the tower companies think things should go. So -- but -- as of today -- and then we'll let you know if things change. But as of today, we still see things in that range. And it's up to us as management that it's going to take some work to get it to that range. We're certainly not there yet. Operator: [Operator Instructions] And with that, we will conclude today's call. All parties may disconnect. Have a good day. Before you buy stock in EchoStar, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and EchoStar wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. EchoStar (ECHO) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

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Named one of Deloitte’s fastest-growing software companies in North America, the company has built a large beta user base and is scaling a model that turns everyday smartphone usage into a potential income stream. For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000, with only ~5% of opportunities passing their due diligence process. © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Space Exploration Technologies Corp. (NASDAQ:SPCX) is doubling down on its satellite connectivity goals as the Elon Musk-led company is preparing to launch its second-generation Direct-to-Device (D2D) service in the third quarter of 2027, according to filings with the Canadian government on Monday. The company had earlier partnered with Canadian Telecom company Rogers Communications Inc. (NYSE:RCI) in 2025 to launch Starlink’s first-gen system in the country, which is currently delivering supplemental messaging via five MHz spectrum, the company said in the filing. Read Also: Trump Administration Exempts SpaceX’s Starlink From Sweeping FCC Ban on Foreign-Made Routers Through February 2028 SpaceX also said that its acquisition of EchoStar’s 2 GHz spectrum rights will fuel the Gen2 V2 satellites, promising speeds over 20 times faster and a 100x capacity increase, which will help enable full 5G cellular connectivity. SpaceX plans to launch initial data services by Q3 2027, followed by voice months later. The company also said that it expects natively supported devices from Apple Inc. (NASDAQ:AAPL), Samsung Electronics Co. Ltd. (OTC:SSNLF) and Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) in late 2027, with full global polar coverage targeted by late 2028. SpaceX confirmed it will offer non-exclusive service access across all interested mobile carriers. The news comes as SpaceX is gearing up to host its first-ever earnings call on Tuesday, since going public in June this year. However, the company’s stock has since dropped to below its IPO price of $135/share. Wealth manager Charlie Bilello, commenting on SPCX’s decline, said that the company’s stock got a “reality check” most IPOs suffer from. Investor Ross Gerber, the co-founder of Gerber Kawasaki, said that the upcoming SpaceX earnings call can be exciting for Tesla Inc. (NASDAQ:TSLA) investors too, as they get to hear from Musk twice every quarter. View more earnings on SPCX Price Action: SpaceX shares surged 1.19% to $115.90 during pre-market trading on Tuesday. At market close, SPCX was trading at $114.53 per share. Read Also: Amazon Seeks FCC Approval to Launch Over 5,000 Starlink Rival Satellites for Direct-to-Device Service Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor. Check out more of Benzinga’s Future Of Mobility coverage by following this link. Image via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga: SPACEX (SPCX): Free Stock Analysis Report This article Will Elon Musk's Bullish Starlink Bet Help SPCX Recover? Billionaire Charts Ambitious Connectivity Plan Ahead of SpaceX Earnings originally appeared on Benzinga.com © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

EchoStar (ECHO) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of a loss of $0.29 per share. This compares to a loss of $1.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +165.52%. A quarter ago, it was expected that this seller of set-top boxes and provider of satellite services to Dish Network would post a loss of $0.87 per share when it actually produced a loss of $0.33, delivering a surprise of +62.07%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. EchoStar, which belongs to the Zacks Satellite and Communication industry, posted revenues of $3.58 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.95%. This compares to year-ago revenues of $3.72 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. EchoStar shares have lost about 22.6% since the beginning of the year versus the S&P 500's gain of 9.4%. While EchoStar has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for EchoStar was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.01 on $3.46 billion in revenues for the coming quarter and -$1.93 on $14.28 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Satellite and Communication is currently in the bottom 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Satellogic Inc. (SATL), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Satellogic Inc.'s revenues are expected to be $9.33 million, up 110.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EchoStar Corporation (ECHO) : Free Stock Analysis Report Satellogic Inc. (SATL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Echostar CORP? Here are five stocks we like better. Hughes filed for Chapter 11 bankruptcy after missing a $1.5 billion bond maturity; EchoStar said the proceedings are limited to Hughes entities and will not affect the parent company or other subsidiaries. EchoStar increased its share-repurchase authorization to $5 billion, but management emphasized that purchases are discretionary and may be restricted by bond covenants. The company also has approximately $14 billion–$15 billion in cash after reserving $2.4 billion for Boost-related network shutdown obligations. Boost Mobile remained slightly cash-flow positive but lost subscribers, while EchoStar continues to explore partnerships, mergers and acquisitions. The company also owns 261.8 million SpaceX shares and is awaiting an FCC decision on selling certain spectrum assets. From Debt to Liftoff: EchoStar's $23 Billion Catalyst Echostar (NASDAQ:ECHO) said its Hughes business filed for Chapter 11 bankruptcy protection after the unit’s $1.5 billion bond maturity came due on Aug. 1 and discussions with bondholders did not produce what the company called a workable solution. Chairman Charlie Ergen said the bankruptcy filing is limited to Hughes entities and does not include EchoStar Corporation, its other non-Hughes subsidiaries or Hughes international entities. The company submitted first-day motions intended to allow Hughes to continue operating normally, including paying employees, serving customers and channel partners, and meeting ongoing vendor commitments. → Lost in Space: Why Aerospace Valuations Are Plummeting Right Now MarketBeat Week in Review – 1/8 - 1/12 “We don't know how long bankruptcy will take before we can emerge restructured,” Ergen said, adding that the company would not take further questions about Hughes because litigation is expected. He directed investors to the company’s press release and court filing for additional details. EchoStar increased its stock-repurchase authorization to $5 billion, Ergen said. However, he emphasized that the authorization does not obligate the company to buy back shares and noted that certain bond indentures restrict share repurchases. → MarketBeat Week in Review – 07/27- 07/31 Is EchoStar a buy after the Dish Network buyout? Management said its capital-allocation priorities include investing in existing operations, evaluating opportunities through EchoStar Capital, considering investments in EchoStar itself, and potentially dividends if other opportunities do not meet its criteria. “We're going to be patient,” Ergen said of investment decisions. “The market is pretty frothy. We're not going to rush out to do something and overpay for something just because we have money.” → GE HealthCare Stock Climbs on Vital Diagnostics Demand Ergen said the company is generally cautious about valuations, including EchoStar’s own valuation, given that market metrics are at historically high levels. He said management’s approach is centered on long-term shareholder value rather than short-term financial targets. EchoStar said it has about $14 billion to $15 billion in cash after setting aside $2.4 billion in escrow for Boost-related network shutdown obligations mandated by the FCC. The company estimated its costs associated with finalizing its wireless-network termination and related tax liabilities at roughly $5 billion to $7 billion. Ergen said the estimate includes the $2.4 billion escrow amount and incorporates variables including potential tax-related transactions and litigation over network shutdown costs. Ergen said EchoStar owns 261.8 million shares of SpaceX and continues to hold spectrum assets including AWS-3, CBRS and 700 MHz licenses. He said the SpaceX transaction is expected to pay about $5 billion of debt at closing, while EchoStar also has $1.9 billion of convertible debt that is currently in the money for conversion. The company is awaiting an FCC decision on its request for a waiver related to its remaining spectrum licenses. EchoStar has asked to sell the licenses at fair value in exchange for an extension of its network-buildout requirements. Jeff Blum, acting chief legal officer and secretary, said the FCC chairman confirmed in September that EchoStar had met its buildout commitments. The company believes a waiver would make sense now that it no longer has a network, and said it hopes the FCC will rule in the near term. Ergen said EchoStar expects it would not be barred from participating in a future C-band auction, though the company has not determined whether participation would make strategic sense. It would also consider secondary-market spectrum transactions that could enhance shareholder value, he said. Ergen said management has not yet “cracked the code” for achieving the level of success it wants in the wireless business. Boost Mobile has “treaded water” for four years, he said, reporting that the operation was slightly cash-flow positive during the quarter but lost subscribers. Still, EchoStar views Boost as strategically important. Ergen said Bob Grochinski, who joined the company several months ago, has brought a fresh approach and that management believes it has strategic initiatives that could reinvigorate the business. EchoStar has “a fair amount of flexibility” under its contracts to pursue potential mergers, acquisitions or partnerships involving Boost, Ergen said, though he declined to discuss specific contract terms. He stressed that all of the company’s operations need to demonstrate a long-term ability to operate profitably. The company also sees an opportunity to combine its capabilities in mobile service, broadband, satellite connectivity and video. Ergen said customers will need connectivity in multiple forms, including Wi-Fi, broadband, satellite services and video, and that EchoStar’s experience across those areas could be beneficial. Regarding the DISH Wireless bankruptcy process, Ergen said a confirmation hearing is scheduled for Oct. 13 and that the company currently expects the matter could be resolved in the fourth quarter of 2026. He said litigation involving infrastructure providers, including tower companies, has lengthened the process and shifted some decision-making to the bankruptcy court. Ergen said EchoStar’s stalking-horse bid related to the proceedings was potentially about $300 million, less cash on hand, but described the potential liquidation value of the assets as relatively immaterial compared with EchoStar’s broader portfolio. On a potential combination of DISH and DirecTV, Ergen reiterated that he believes consolidation is inevitable but said the company has no preconceived view about whether it would be a buyer, seller or participant in another structure. Any transaction would depend on valuation and incentives for the parties, he said. EchoStar does not currently need to access capital markets, Ergen said. He added that management intends to work professionally with bondholders and vendors while pursuing a resolution through the restructuring process. EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings. The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities. EchoStar was founded in 1980 and has long been associated with satellite communications in the United States. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Echostar Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

EchoStar Corporation (ECHO), headquartered in Englewood, Colorado, is a global communications company providing satellite, wireless, broadband, and video services. It delivers connectivity, networking, and content solutions for consumers, businesses, operators, and government customers, leveraging its technology, spectrum, engineering, and communications infrastructure worldwide. The company has a market capitalization of approximately $26.2 billion. ECHO is set to report its Q2 earnings soon. Ahead of the release, analysts expect the company to post a loss of $0.28 per share, a 73.6% improvement from a loss of $1.06 per share in the year-ago quarter. ECHO has surpassed Wall Street's EPS estimates in three of the past four quarters, while missing expectations in one quarter. PayPal Says a $53 Billion Takeover Offer from Stripe Undervalues It. How to Play PYPL Stock Here. Billionaire Jeff Bezos Called Amazon’s Customer Service to Prove a Point But Waited in Silence for More Than 10 Minutes — ‘It Was Really Long’ Micron Stock Is Near Bear-Market Territory. Here’s Why ASML’s Guidance Says Buy the Dip. Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! For fiscal 2026, analysts expect the company to report a loss of $1.75 per share, improving 52.1% from a loss of $3.65 per share in fiscal 2025. Looking ahead, analysts project EchoStar will return to profitability in fiscal 2027, with EPS rising 123.4% to $0.41. ECHO stock has delivered impressive returns, gaining 234.5% over the past 52 weeks, significantly surpassing both the S&P 500 Index ($SPX), which returned 19.1%, and the State Street Communication Services Select Sector SPDR ETF (XLC), which climbed 2.3% during the same period. On May 11, 2026, EchoStar announced its FY 2026 Q1 earnings, and its shares rose 1.6%. Total revenue declined 5.2% year-over-year to $3.67 billion, while its net loss narrowed 27.5% year-over-year to $146.89 million from $202.67 million. The company's diluted loss per share improved 28.2% to $0.51 from $0.71, reflecting reduced losses despite lower revenue. The company closed the quarter with 6.63 million pay-TV subscribers, including 4.84 million DISH TV subscribers and 1.79 million Sling TV subscribers. Analysts remain bullish on ECHO, with the stock earning a consensus "Strong Buy" rating. Among the seven analysts covering the stock, five recommend a "Strong Buy," one rates it a "Moderate Buy," and one suggests a "Hold." The average price target of $137.17 implies a potential upside of 44.8% from the current share price. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

Looking back on media & entertainment stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including EchoStar (NASDAQ:ECHO) and its peers. Simply put, traditional media like linear TV is losing eyeballs and as a result, ad dollars as well. On the other hand, digital media such as streaming and social media are taking share of audience and ad spend. AI-driven content creation and digital advertising are continuing to evolve, which benefits companies in the sector that invest behind these themes. On the other hand, headwinds include growing regulatory scrutiny on AI-generated content, with many publishers balking at anything that gets no human oversight. Additional areas to navigate for companies in the space include the phasing out of third-party cookies, which could make traditional ways of tracking the online behavior of consumers (a secret sauce in digital marketing) much less effective. The 16 media & entertainment stocks we track reported a mixed Q4. As a group, revenues missed analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was in line. In light of this news, share prices of the companies have held steady as they are up 3.9% on average since the latest earnings results. Following its 2023 acquisition of DISH Network, EchoStar (NASDAQ:ECHO) provides satellite communications, pay-TV services, wireless networks, and broadband solutions across consumer and enterprise markets. EchoStar reported revenues of $3.80 billion, down 4.3% year on year. This print exceeded analysts’ expectations by 1.3%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS estimates. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 12% since reporting and currently trades at $101.69. Is now the time to buy EchoStar? Access our full analysis of the earnings results here, it’s free. With thousands of digital and traditional displays lighting up America's highways, city streets, and airports, Clear Channel Outdoor (NYSE:CCO) operates billboards, street furniture, and airport displays, connecting advertisers with millions of consumers across the US. Clear Channel Outdoor reported revenues of $461.5 million, up 8.2% year on year, outperforming analysts’ expectations by 2.8%. The business had a stunning quarter with EPS in line with analysts’ estimates. However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $2.42. Is now the time to buy Clear Channel Outdoor? Access our full analysis of the earnings results here, it’s free. Originally known as InterActiveCorp and built through Barry Diller's strategic acquisitions since the 1990s, People (NASDAQ:PPLI) operates a portfolio of category-leading digital businesses including Dotdash Meredith, Angi, and Care.com, focusing on digital publishing, home services, and caregiving platforms. People reported revenues of $422.9 million, down 12.2% year on year, falling short of analysts’ expectations by 17.3%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates. People delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 2.2% since the results and currently trades at $46.15. Read our full analysis of People’s results here. Formerly known as K12, Stride (NYSE:LRN) is an education technology company providing education solutions through digital platforms. Stride reported revenues of $629.9 million, up 2.7% year on year. This number met analysts’ expectations. Aside from that, it was a mixed quarter as it also recorded a beat of analysts’ EPS estimates but full-year revenue guidance slightly missing analysts’ expectations. Stride had the weakest full-year guidance update among its peers. The stock is down 6.8% since reporting and currently trades at $86.30. Read our full, actionable report on Stride here, it’s free. Powering nearly 10 million consumer referrals each month in the insurance marketplace, MediaAlpha (NYSE:MAX) operates a technology platform that connects insurance carriers with high-intent consumers shopping for property, casualty, health, and life insurance products. MediaAlpha reported revenues of $310 million, up 17.3% year on year. This print beat analysts’ expectations by 3.5%. Zooming out, it was a mixed quarter as it also logged revenue guidance for next quarter beating analysts’ expectations but a significant miss of analysts’ EPS estimates. The stock is up 25.7% since reporting and currently trades at $12.57. Read our full, actionable report on MediaAlpha here, it’s free. Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure? These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the media & entertainment industry, including EchoStar (NASDAQ:ECHO) and its peers. Simply put, traditional media like linear TV is losing eyeballs and as a result, ad dollars as well. On the other hand, digital media such as streaming and social media are taking share of audience and ad spend. AI-driven content creation and digital advertising are continuing to evolve, which benefits companies in the sector that invest behind these themes. On the other hand, headwinds include growing regulatory scrutiny on AI-generated content, with many publishers balking at anything that gets no human oversight. Additional areas to navigate for companies in the space include the phasing out of third-party cookies, which could make traditional ways of tracking the online behavior of consumers (a secret sauce in digital marketing) much less effective. The 16 media & entertainment stocks we track reported a mixed Q4. As a group, revenues missed analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was in line. In light of this news, share prices of the companies have held steady as they are up 3.5% on average since the latest earnings results. Following its 2023 acquisition of DISH Network, EchoStar (NASDAQ:ECHO) provides satellite communications, pay-TV services, wireless networks, and broadband solutions across consumer and enterprise markets. EchoStar reported revenues of $3.80 billion, down 4.3% year on year. This print exceeded analysts’ expectations by 1.3%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS estimates. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 13.7% since reporting and currently trades at $99.75. Is now the time to buy EchoStar? Access our full analysis of the earnings results here, it’s free. With thousands of digital and traditional displays lighting up America's highways, city streets, and airports, Clear Channel Outdoor (NYSE:CCO) operates billboards, street furniture, and airport displays, connecting advertisers with millions of consumers across the US. Clear Channel Outdoor reported revenues of $461.5 million, up 8.2% year on year, outperforming analysts’ expectations by 2.8%. The business had a stunning quarter with EPS in line with analysts’ estimates. The market seems content with the results as the stock is up 1.3% since reporting. It currently trades at $2.43. Is now the time to buy Clear Channel Outdoor? Access our full analysis of the earnings results here, it’s free. Originally known as InterActiveCorp and built through Barry Diller's strategic acquisitions since the 1990s, People (NASDAQ:PPLI) operates a portfolio of category-leading digital businesses including Dotdash Meredith, Angi, and Care.com, focusing on digital publishing, home services, and caregiving platforms. People reported revenues of $422.9 million, down 12.2% year on year, falling short of analysts’ expectations by 17.3%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates. People delivered the weakest performance against analyst estimates and slowest revenue growth in the group. The stock is flat since the results and currently trades at $44.97. Read our full analysis of People’s results here. With over 2,400 hours of local news produced weekly and 640 broadcast channels reaching millions of American homes, Sinclair (NASDAQ:SBGI) operates a network of 185 local television stations across 86 U.S. markets, producing news programming and distributing content from major networks. Sinclair reported revenues of $807 million, up 4% year on year. This number surpassed analysts’ expectations by 2%. It was an exceptional quarter as it also put up a beat of analysts’ EPS estimates. The stock is down 7.4% since reporting and currently trades at $14.39. Read our full, actionable report on Sinclair here, it’s free. Formerly known as K12, Stride (NYSE:LRN) is an education technology company providing education solutions through digital platforms. Stride reported revenues of $629.9 million, up 2.7% year on year. This print was in line with analysts’ expectations. Aside from that, it was a mixed quarter as it also logged a beat of analysts’ EPS estimates but full-year revenue guidance slightly missing analysts’ expectations. Stride had the weakest full-year guidance update among its peers. The stock is down 5.9% since reporting and currently trades at $87.16. Read our full, actionable report on Stride here, it’s free. Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure? These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.