A 1/3 scale model of the MDA Skymaker, a commercial space arm based on the Canadarm3 technology in the production area of a newly constructed MDA facility in Brampton on June 27, 2024.
MDA forecast it would generate revenue of $1.02-billion to $1.06-billion this year, up from its prior forecast of $950-million to $1.05-billion and above analyst expectations, and bumped up the lower end of its operating earnings forecast range to $200-million from $190-million. MDA shares also jumped in late June on news of the Canadarm contract, which runs through March 2030 although it was not a surprise. The company had won two smaller contracts to do early concept and preliminary design work for the robotic arm system known as Canadarm3 . MDA had, along with predecessor Spar Aerospace, built the two previous Canadarms used on NASA’s space shuttles and International Space Station over the past 40 years.
Earlier this year company was added to the S&P/TSX Composite Index and named one of the most innovative space companies by technology magazine Fast Company.