Financial Data and Key Metrics Changes - In Q3 2024, the company reported total revenue of $2.2 billion, a decline of 3.9% year-over-year, primarily due to a 5.6% decrease in residential revenue attributed to video subscriber losses [42][10] - Adjusted EBITDA for the quarter was $862 million, resulting in an adjusted EBITDA margin of 38.7%, down 5.8% year-over-year [45][10] - Residential ARPU was $135.77, reflecting a 1.9% decline year-over-year, while pro forma residential ARPU, excluding video impact, remained flat at approximately $83 [42][10] Business Line Data and Key Metrics Changes - The company added 47,000 fiber net additions, bringing the total fiber customer base to 482,000, with a penetration rate of approximately 17% across the total fiber footprint [13][10] - Mobile services revenue grew by 50% year-over-year, marking the fourth consecutive quarter of such growth [43][10] - Business Services revenue remained relatively flat year-over-year, driven by growth in the Lightpath Enterprise business, offset by declines in SMB and other segments [44][10] Market Data and Key Metrics Changes - The company experienced broadband subscriber net losses of 50,000 in the quarter, primarily due to the impact of the ACP program's sunset and fewer additions in the back-to-school university segment [15][10] - The competitive landscape saw increased pressure from fixed wireless and fiber overbuilders, particularly from Verizon and AT&T [57][10] Company Strategy and Development Direction - The company is transitioning to Phase 2 of its transformation, focusing on accelerating business transformation, growing new revenue streams, and moderating operating expenses [8][10] - A multiyear network strategy is being implemented to enhance capital efficiency and prioritize high-return capital projects [20][10] - The company aims to grow its fiber customer base to over 1 million by the end of 2026, targeting a penetration rate of 30% [32][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the macroeconomic environment, video cord cutting, and increased competition but expressed confidence in stabilizing ARPU and maintaining low churn rates [11][10] - The company is optimistic about future growth opportunities through improved broadband subscriber trends and the introduction of new value-added services [27][10] - Management emphasized the importance of enhancing customer experience and operational efficiencies to support long-term growth [34][10] Other Important Information - The company generated approximately $100 million in free cash flow year-to-date and anticipates full-year capital expenditures of around $1.5 billion, a reduction from previous guidance [20][46] - The company has achieved significant improvements in service call and visit trends, reflecting ongoing commitments to enhancing network and customer experience [26][10] Q&A Session Summary Question: Did the company see improvements in broadband amid competitive pressures? - Management noted a decline in gross add activity across the industry but highlighted improvements in win-loss percentages due to better competitive strategies [57][58] Question: What is the expected impact of mobile on EBITDA? - Management expressed optimism about mobile margins and their potential to drive down broadband churn and increase customer lifetime value [70][71] Question: How does the company plan to achieve its mobile subscriber targets? - Management outlined plans to expand sales channels and improve product offerings to accelerate mobile subscriber growth [75][76] Question: What are the expectations for capital expenditures moving forward? - Management indicated that capital expenditure reductions are due to improved efficiencies and a focus on high-return projects [81][82] Question: How does the company view potential M&A opportunities? - Management remains open to value-accretive transactions but emphasized a focus on driving growth in existing operations [102][103]

Altice USA, Inc. (ATUS) reported $2.23 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 3.9%. EPS of -$0.09 for the same period compares to $0.15 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.24 billion, representing a surprise of -0.54%. The company delivered an EPS surprise of -550.00%, with the consensus EPS estimate being $0.02.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

| --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------| | | | | | | | | | | | | FORWARD-LOOKING STATEMENTS Certain statements in this presentation constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this presentation, including, without limitation, those regarding our intentions, beliefs or curr ...

Altice USA, Inc. (ATUS) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of $0.02. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -550%. A quarter ago, it was expected that this company would post earnings of $0.08 per share when it actually produced earnings of $0.03, delivering a surprise of -62.50%.Over the last four quarters, the company has not been ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Commission File Number Registrant; State of Incorporation; Address and Telephone Number IRS Employer Identification No. FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 001-38126 38-3980194 Altice USA ...

Financial Performance - Total revenue for Q3 2024 was $2.2 billion, a decrease of 3.9% year over year[3] - Residential revenue was $1.7 billion, down 5.6% year over year, with an ARPU of $135.77, a decline of 1.9% year over year[3] - Net income attributable to stockholders was a loss of $43.0 million, compared to a profit of $66.8 million in Q3 2023[4] - Adjusted EBITDA for Q3 2024 was $862.0 million, representing a 5.8% decrease year over year, with a margin of 38.7%[4] - Operating income for Q3-24 was $444.6 million, a decrease of 9.8% from $492.6 million in Q3-23[12] - Basic net income (loss) per share for Q3-24 was $(0.09), down from $0.15 in Q3-23[12] - Free Cash Flow for the three months ended September 30, 2024, was $76,865 thousand, down from $121,279 thousand in the same period of 2023[17] Customer Metrics - Fiber customer net additions reached 482,000, a 63% increase in total fiber customers compared to Q3 2023, with fiber penetration at 16.6%[5] - Mobile line net additions were 36,000, the highest in four years, bringing total mobile lines to 420,000[5] - As of September 30, 2024, the company adjusted its customer metrics, resulting in an increase of 4.7 thousand residential customer relationships, 3.8 thousand broadband customers, and 5.2 thousand video customers[5] - The total number of unique customer relationships does not include mobile-only customers, reflecting a comprehensive approach to customer metrics[12] - The company serves approximately 4.6 million residential and business customers across 21 states under the Optimum brand[25] Capital Expenditures and Cash Flow - Cash capital expenditures for Q3 2024 were $359.2 million, a 1.7% increase year over year, with a full-year 2024 forecast of $1.5 billion, down $200 million from 2023[4] - Capital expenditures for the nine months ended September 30, 2024, were $1,042.98 million, down from $1,409.56 million in the same period of 2023[13] - Free cash flow for Q3 2024 was $76.9 million, impacted by $115 million of higher cash interest year over year[4] - Cash and cash equivalents at the end of the period for Q3-24 were $250.29 million, down from $268.66 million at the end of Q3-23[13] Debt and Leverage - Consolidated net debt for Altice USA was $24.6 billion, with a net leverage ratio of 7.1x L2QA[8] - Consolidated Net Debt as of September 30, 2024, was $23,180 million, with a gross debt of $23,372 million[18] - Total Debt for Altice USA Consolidated was reported at $25,100 million, with cash of $(250) million resulting in a net debt of $24,850 million[21] - Net Leverage (LTM) ratio was 7.2x as of September 30, 2024, indicating a stable leverage position[20] - Interest expense for the three months ended September 30, 2024, was $448,168 thousand, compared to $420,216 thousand in the same period of 2023[16] Future Outlook and Strategy - The company aims to achieve over 1 million fiber subscribers by year-end 2026 and 30%+ fiber penetration by the same date[7] - The company anticipates future growth in broadband, fiber, video, and mobile services, with a focus on operational performance improvements[26] - The company plans to continue evaluating management effectiveness based on revenue and Adjusted EBITDA measures[16] - The company emphasizes the importance of Free Cash Flow and operational efficiency in its future financial performance[26] Network and Service Availability - FTTH total passings increased to 2,893.7 thousand by Q3-24, up from 2,735.2 thousand in Q4-23, representing a growth of 5.8%[11] - The total passings include single residence homes, apartments, and commercial establishments connected to the HFC and FTTH networks[11] - The company reported that broadband services were not available to approximately 30 thousand total passings, while telephony services were unavailable to about 500 thousand total passings[11] Miscellaneous - The Incremental Term Loan B-5 bears interest at a rate equal to Synthetic USD LIBOR plus 2.50% per annum through March 31, 2025[17] - The company operates an advanced advertising and data business through Optimum Media, providing audience-based advertising solutions[25] - Capital intensity is defined as total cash capital expenditures as a percentage of total revenue, indicating the company's investment strategy[3] - The company reported a loss on derivative contracts of $166,489 thousand for the nine months ended September 30, 2023[16] - Depreciation and amortization for the three months ended September 30, 2024, was $386,342 thousand, slightly down from $402,366 thousand in the same period of 2023[16]

Wall Street expects a year-over-year decline in earnings on lower revenues when Altice USA, Inc. (ATUS) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Novem ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Altice USA (ATUS) is one of the largest broadband communications and video services providers in the United States. The Zacks Consesnsus Estimate for its current year earnings has been revised 28.6% downward over the last 60 days.Dave & Buster's Entertainment (PLAY) is a leading owner and operator of high-volume venues in North America that combine dining and entertainment for both adults and families. The Zacks Consensus Estimate for ...

NEW YORK, Sept. 18, 2024 /PRNewswire/ -- Rachel Stack, newly named CFO of Lightpath, will join an esteemed panel of industry leaders at the TMT M&A Forum USA 2024, organized by TMT Finance, which focuses on digital infrastructure investment and M&A strategies. Stack comes to Lightpath, an all-fiber, infrastructure-based connectivity provider that is revolutionizing how organizations connect to their digital destinations, with 25 years of expertise in the digital infrastructure sector. Her extensive backgrou ...

NEW YORK, Aug. 12, 2024 /PRNewswire/ -- Lightpath, an all-fiber, infrastructure-based connectivity provider revolutionizing how organizations connect to their digital destinations, announced the appointment of Rachel Stack as Chief Financial Officer. Stack joins the executive team with a wealth of financial expertise and industry knowledge to support Lightpath's strategic growth plans.As CFO, Stack will oversee all corporate finance, including accounting, financial planning and budgeting, treasury, tax, and ...