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Goldman Sachs

May 13, 2026

Eutelsat Communications Reports In-Line 3Q26 Financials

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Eutelsat reported 3Q26 results that were in-line with consensus and reiterated its FY26 and FY29 guidance.

Key Takeaways

  • 1.3Q26 financial results were broadly in-line with consensus, with total revenues of €293mn versus €291mn expected.
  • 2.The company reiterated all financial guidance for FY26 and its longer-term FY29 targets.
  • 3.Eutelsat expects to recognize revenue from the French Ministry of Defence framework agreement starting in 4Q26.

Table of Contents

  • Backlog
  • FY26 guidance reiterated (on constant currency)
  • FY29 guidance reiterated
  • Valuation and key risks
  • Disclosure Appendix

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