Gilat Satellite Defense Business Boosts Q2 Earnings

Gilat Satellite Networks Ltd. (NASDAQ: GILT ) shares are trading lower on Wednesday after the company reported second-quarter results. • Gilat Satellite Networks stock is taking a hit today. What’s weighing on GILT shares? Earnings Snapshot Revenue rose to $122.7 million from $105 million in the prior-year quarter and came ahead of the $120.7 million estimate. Adjusted operating income increased 35% year over year to $12.6 million. Adjusted EPS of 20 cents beat the analyst expectations of 10 cents. Adjusted EBITDA increased 31% Y/Y to $15.4 million, reflecting improved margins in the quarter. CEO Adi Sfadia said the results were driven by solid execution across its Defense, Commercial and Peru segments. Sfadia highlighted continued momentum in Gilat Defense, with growing demand in the U.S. and Europe for advanced communication solutions supporting mobility, rapid deployment, and...