Speedcast plans reorganization, but no asset sale or equity raise, after ‘perfect storm’ cuts H1 revenue and EBITDA

by Peter B. de Selding

PARIS — Mobile satellite services provider Speedcast International has begun a broad reorganization designed to mitigate the effects of what the company said has been “a perfect storm” of negative events so far in 2019.

The company said that at least for now, it is not considering a sale of any of the multiple assets it has acquired in recent years and that its leverage is well within the bounds of its debt covenants. Scale means power in today’s satellite services market, Speedcast continues to believe.

But . . .

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