Gilat Satellite Networks (NASDAQ:GILT) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Gilat Satellite Networks (NASDAQ:GILT) released its quarterly earnings results on Wednesday. The communications equipment provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09, FiscalAI reports. The business had revenue of $122.66 million during the quarter, compared to analysts’ expectations of $120.72 million. Gilat Satellite Networks had a return on equity of 10.48% and a net margin of 6.21%.

Here are the key takeaways from Gilat Satellite Networks’ conference call:

• Strong Q2 execution: Revenue increased 17% year over year to $122.7 million, while adjusted EBITDA rose 31% to $15.4 million, with growth across commercial, defense, and Peru.
• Gilat received substantial orders, including more than $20 million for SkyEdge platforms and $43 million for Sidewinder IFC terminals, while Boeing and Airbus line-fit certification programs continued to advance.
• The planned acquisition of most of Comtech’s Satellite & Space Communications segment is expected to more than double Gilat Defense revenue and expand its U.S. defense presence, although closing remains subject to regulatory approvals and other conditions.
• Management reiterated 2026 guidance of $500 million–$520 million in revenue and $61 million–$66 million in adjusted EBITDA, supported by backlog and pipeline visibility.
• Management expects an additional $3 million–$5 million of operating expenses in the second half from unfavorable Israeli shekel exchange-rate movements, while Q2 operating cash flow was negative $1.9 million due primarily to working-capital timing.

Gilat Satellite Networks Trading Down 0.6%

Shares of NASDAQ GILT traded down $0.07 on Friday, reaching $11.22. 343,309 shares of the company traded hands, compared to its average volume of 862,676. The company has a 50 day moving average of $12.75 and a 200 day moving average of $15.58. The stock has a market capitalization of $828.37 million, a PE ratio of 25.51 and a beta of 1.06. Gilat Satellite Networks has a fifty-two week low of $8.52 and a fifty-two week high of $20.93.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Zacks Research lowered Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Gilat Satellite Networks in a research report on Tuesday, June 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gilat Satellite Networks presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Insider Buying and Selling

In other Gilat Satellite Networks news, insider Arieh Rohrstock sold 17,568 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $15.23, for a total transaction of $267,560.64. Following the completion of the transaction, the insider directly owned 7,531 shares of the company’s stock, valued at $114,697.13. The trade was a 69.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Gilat Satellite Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers bought a new stake in Gilat Satellite Networks during the 2nd quarter worth approximately $191,000. Russell Investments Group Ltd. raised its position in Gilat Satellite Networks by 39.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 122,685 shares of the communications equipment provider’s stock valued at $870,000 after buying an additional 34,810 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Gilat Satellite Networks by 1.6% in the 2nd quarter. Marshall Wace LLP now owns 513,873 shares of the communications equipment provider’s stock valued at $3,643,000 after acquiring an additional 8,105 shares in the last quarter. Jane Street Group LLC grew its position in shares of Gilat Satellite Networks by 298.7% in the 2nd quarter. Jane Street Group LLC now owns 68,222 shares of the communications equipment provider’s stock valued at $484,000 after acquiring an additional 51,109 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Gilat Satellite Networks by 23.2% in the second quarter. Bank of America Corp DE now owns 121,258 shares of the communications equipment provider’s stock valued at $860,000 after purchasing an additional 22,817 shares during the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

About Gilat Satellite Networks

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.