ECHO US S&P 500Russell 1000 Earnings call · transcribed from the recording
EchoStar (ECHO) · Q2 2026 results
Share price: $102.20 · 2026-11-11
Results Q2 2026 vs Q4 2025 · previous quarter · published 3 Aug 2026 and 2 Mar 2026
Net income down 36.1% on the previous quarter. Management sounded cautious, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
−36.1%
Net income vs Q4 2025
Net income 8.46B vs 13.24B
Revenue −5.8%
2 · How management spoke
Cautious
Among the least upbeat of all company calls
Answers to analysts: restrained, in line with the script.
Similar to last call.
3 · What stood out
Figure
As you all know, August 1, EchoStar had a $1.5 billion bond maturity for Hughes Corporation.
Valuation
Reverse DCF. Free cash flow from the last full fiscal year, grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
Valuation unavailable: free cash flow and profit were negative in the last full year and on average over the last three, so there is nothing to discount.
Current price
$102.20
close of 2026-11-11
P/E
3.4
today
Revenue growth, 3 years
−7.0% a year
compound annual rate (CAGR)
Free cash flow 2023
−$0.7B
Free cash flow 2024
−$0.3B
Free cash flow 2025
−$1.1B
Read between the lines
-
Dropped
Force majeure event
Source quote
“At that time, given the force majeure event and the FCC's action... In the fourth quarter, we moved all our customers off of our network.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q4 2025.
Script and answers carried a similar tone, so the script's message held up under questioning.
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q4 2025period end 2025-12-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 3.58B | 3.80B | −5.8% | 3.72B | −4.0% |
| Operating income | 512.9M | -779.7M | Turned profit | -213.4M | Turned profit |
| Net income | 8.46B | 13.24B | −36.1% | -306.1M | Turned profit |
| EPS | 24.12 | -4.16 | Turned profit | -1.06 | Turned profit |
| P/E today 3.4 | 12-mo loss | 12-mo loss | — | 12-mo loss | — |
Topics
Most discussed now
- New It does not include EchoStar Corporation, EchoStar's other non-Hughes subsidiaries or even Hughes international entities.
- EchoStar has its traditional video business, which continues to throw off cash.
- EchoStar has spectrum still a solid spectrum position of AWS-3, CBRS, 700 megahertz, et cetera, that you could take a...
- EchoStar thinks it has some strategic initiatives going forward that will reinvigorate that part of its business.
Faded since Q4 2025
- Dropped I am disappointed in that because, by contrast, those companies who have not litigated, EchoStar has had good open faith...
- Dropped I do not think EchoStar is actively looking necessarily to make any transaction at this point based on that.
- Fading EchoStar's decisions are based on many considerations, including paying down expensive or maturing debt obligations, its current and…
Latest announcements
Official filings, newest first.
- Shareholder vote results · SEC 8-K · routine
- Material agreement; Acquisition or disposal · SEC 8-K
- Regulation FD disclosure · SEC 8-K
- 1.03; 2.04; Director or officer change; Regulation FD disclosure; Other events · SEC 8-K
- Agreement terminated; Acquisition or disposal; Other events · SEC 8-K
- Director or officer change; Other events · SEC 8-K
- Director or officer change · SEC 8-K
- Other events · SEC 8-K