Why Comtech Telecommunications Shares Are Falling On Wednesday?

Comtech Telecommunications (CMTL) shares fell 11.04% on Wednesday following the announcement of plans to sell most of its Satellite and Space Communications segment to Gilat Satellite Networks (GILT) for $157.5 million. The company will receive approximately $143-145 million in net proceeds to reduce debt. Despite beating earnings estimates on loss per share, Comtech missed revenue expectations and reported a widened operating loss, though it maintained positive operating cash flow for the fifth consecutive quarter.

06/17/2026, 12:07 PM • Benzinga

Comtech Sells Satellite Unit To Gilat: What Happens Next?

Comtech Telecom agreed to sell most of its Satellite and Space Communications segment to Gilat Satellite Networks for $157.5 million. The transaction is expected to close in Q4 2026. Comtech reported fiscal Q3 results beating earnings estimates with an adjusted loss of 22 cents per share versus expected 27 cents, though revenue missed expectations at $106.0 million versus $110.2 million. The company plans to use net proceeds of $143-145 million to reduce debt and focus on its public safety technology business.

06/15/2026, 9:03 AM • Benzinga

Gilat to Acquire Comtech's Satellite & Space Communications Segment¹ Creating a Leading Provider of Advanced Defense and Satellite Communications Solutions

Gilat Satellite Networks has agreed to acquire Comtech Telecommunications' Satellite & Space Communications segment for $157.5 million in cash. The transformative deal is expected to create a company with over $700 million in projected annual revenue, more than doubling Gilat Defense's revenue. The acquisition adds satellite ground infrastructure capabilities, Troposcatter BLOS communications, and expands access to U.S. defense agencies and space customers. Closing is expected by end of 2026, subject to regulatory approvals.

06/15/2026, 6:05 AM • Benzinga

Stock Market Today: Dow, S&P 500 Futures Tick Up As Oil Prices Rise, US Allies Reject Trump's Hormuz Call— Uber, Lululemon, Cisco In Focus (UPDATED)

U.S. stock futures declined on Tuesday following geopolitical tensions over the Strait of Hormuz, with major indices down 0.43-0.84%. European allies rejected Trump's call to deploy naval forces. Oil prices rose 4.72% amid supply concerns. Key movers included Uber (up on NVIDIA partnership), Lululemon (awaiting earnings), Cisco (down despite AI expansion), and Comtech (down 9.64% on mixed results). The Fed is expected to maintain rates unchanged in March.

03/17/2026, 8:33 AM • Benzinga

Stock Market Today: S&P 500, Dow Jones Futures Tumble As US Allies Reject Trump's Call To Deploy Navy At Hormuz—Uber, Lululemon, Cisco In Focus

U.S. stock futures declined on Tuesday following geopolitical tensions over the Strait of Hormuz, with major indices down 0.43-0.84%. European allies rejected Trump's call to deploy naval forces. Oil prices rose 4.72% amid supply concerns. Key movers included Uber (up on NVIDIA partnership), Lululemon (ahead of earnings), Comtech (down on mixed results), and Rhythm Pharmaceuticals (down on failed obesity drug trial). The Fed is expected to maintain rates unchanged in March.

03/17/2026, 5:28 AM • Benzinga

Finning completes the sale of 4Refuel and ComTech

Finning International has successfully sold its mobile on-site refueling business 4Refuel to H.I.G. Capital and completed the sale of Compression Technology Corporation (ComTech) to a third party, as part of its strategy to simplify operations and focus on core dealership services.

06/30/2025, 4:58 PM • GlobeNewswire