Core Viewpoint - BT is gaining a significant new investor, Bharti, which is acquiring a 24.5% stake from Altice, valued at approximately $4 billion based on BT's market cap of £13 billion ($16 billion) [1] Group 1: Investment Details - Bharti will purchase 9.99% of the stake immediately, with the remainder contingent on regulatory approval [1] - Altice, facing challenges due to debt and corporate scandals, is divesting its stake in BT, which it acquired in multiple phases starting in 2021 [2] Group 2: Strategic Implications - The investment is seen as a move to leverage economies of scale in 5G and AI, which are critical areas for telecom companies [3] - Bharti aims to create synergies in telecom sectors between the U.K. and India, focusing on AI and 5G R&D [3] Group 3: Historical Context - BT previously held a 21% stake in Bharti from 1997 to 2001, indicating a long-standing relationship between the two companies [4] - The current investment marks a significant milestone in Bharti's history, reflecting a reversal of roles from past investments [4] Group 4: Company Statements - BT's CTO expressed confidence in the long-term value of the business and welcomed Bharti's investment as a vote of confidence in BT's strategy [5]

Core Viewpoint - Altice USA, Inc. reported disappointing second-quarter 2024 results, with revenue and net income falling short of expectations due to weak demand in key segments, although there were positive developments in mobile and fiber customer growth, network upgrades, and AI integration [1][2]. Revenue Performance - Total revenues for the quarter were $2.24 billion, a decrease from $2.32 billion year-over-year, missing the consensus estimate by $10 million [3]. - Residential revenues, which include Broadband, Video, Telephony, and Mobile, declined to $1.75 billion from $1.83 billion, primarily due to the loss of higher ARPU video customers, also missing estimates [4]. - Business services and wholesale revenues increased to $369.3 million from $364.7 million, driven by growth in Lightpath revenues, surpassing estimates [4]. Net Income and Earnings - The company reported a net income of $15.4 million or 3 cents per share, down from $78.3 million or 17 cents per share in the prior-year quarter, missing the consensus estimate by 5 cents [2]. Customer Metrics and Growth Strategies - Fiber net additions were approximately 40,000 in the quarter, with total fiber customers reaching 434,000 [3]. - The company had 2,842 million FTTH passings, with about 62,000 added in the April-June period [3]. - Optimum Mobile saw subscriber growth, reaching 384,500 customers, representing a 5.8% penetration of the total broadband customer base [5]. Operating Income and Cash Flow - Operating income increased to $501.6 million from $481.98 million due to lower operating expenses, while adjusted EBITDA was $867.2 million compared to $921.7 million in the prior-year quarter [5]. - Cash generated from operating activities was $306.8 million, down from $438.8 million a year ago, with cash and cash equivalents at $362.1 million and long-term debt at $24.89 billion [6].

Altice USA, Inc. (NYSE:ATUS) Q2 2024 Earnings Call Transcript August 1, 2024 8:30 AM ET Company Participants Sarah Freedman - IR Dennis Mathew - Chairman and CEO Marc Sirota - CFO Conference Call Participants Frank Louthan - Raymond James Kutgun Maral - Evercore ISI Michael Rollins - Citibank Craig Moffett - Moffett Nathanson Sebastiano Petti - JPMorgan Jessica Reif Ehrlich - Bank of America MaryAnne Zhao - Morgan Stanley Operator Hello, and welcome to the Altice USA Q2 2024 Results Conference Call and Webc ...

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 June 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, Inc ...

Altice USA Q2 2024 Results. August 1, 2024 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 current expectations concerning, among other things: our fu ...

Core Insights - Altice USA, Inc. reported a revenue of $2.24 billion for the quarter ended June 2024, reflecting a year-over-year decline of 3.6% and an EPS of $0.03, down from $0.17 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $2.25 billion by 0.47%, and the EPS was 62.50% below the consensus estimate of $0.08 [1] Revenue Performance - Residential revenue was reported at $1.75 billion, which is 4.5% lower than the previous year and below the average estimate of $1.77 billion [7] - Business services and wholesale revenue reached $369.29 million, exceeding the average estimate of $360.74 million, marking a year-over-year increase of 1.3% [8] - News and Advertising revenue was $105.28 million, significantly lower than the average estimate of $119.85 million, representing a decline of 7.2% year-over-year [9] - Mobile revenue within residential services was $27.48 million, surpassing the estimate of $27.28 million, and showing a substantial increase of 51.4% compared to the previous year [10] - Broadband revenue was reported at $914.99 million, below the average estimate of $921.73 million, reflecting a year-over-year decrease of 5.3% [11] - Video revenue was $739.45 million, also below the estimate of $747.97 million, indicating a decline of 4.6% year-over-year [12] - Telephony revenue was $71.70 million, exceeding the estimate of $68.33 million, but showing a decrease of 5.7% compared to the previous year [13] - Other revenue sources amounted to $12.57 million, surpassing the average estimate of $11.63 million, with a year-over-year increase of 15.5% [14] Customer Metrics - Total homes passed remained at 9.75 million, aligning with the average estimate from three analysts [3] - Residential unique customer relationships were reported at 4.27 million, slightly below the average estimate of 4.31 million [4] - SMB unique customer relationships reached 379.7 thousand, marginally above the average estimate of 379.66 thousand [5] - Total unique customer relationships were 4.65 million, which is lower than the average estimate of 4.69 million [6] Stock Performance - Over the past month, shares of Altice USA have returned +1.5%, outperforming the Zacks S&P 500 composite's +1.1% change [14] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [14]

分组1 - Altice USA reported quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.08 per share, and down from $0.17 per share a year ago, representing an earnings surprise of -62.50% [1] - The company posted revenues of $2.24 billion for the quarter, missing the Zacks Consensus Estimate by 0.47%, and down from $2.32 billion year-over-year [1] - Over the last four quarters, Altice USA has surpassed consensus EPS estimates only once, while it has topped consensus revenue estimates three times [1] 分组2 - Altice USA shares have declined approximately 35.7% since the beginning of the year, contrasting with the S&P 500's gain of 15.8% [2] - The current consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $2.24 billion, and for the current fiscal year, it is $0.17 on revenues of $9 billion [4] - The Zacks Industry Rank for Communication - Components is in the top 32% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5]

Financial Performance - Total revenue for Q2 2024 was $2.2 billion, a decrease of 3.6% year over year[3] - Residential revenue was $1.8 billion, down 4.4% year over year, with ARPU at $135.95, a decline of 1.1% or $1.49 year over year[3] - Business Services revenue increased to $369.3 million, up 1.3% year over year[3] - Net income attributable to stockholders was $15.4 million ($0.03/share) in Q2 2024, compared to $78.3 million ($0.17/share) in Q2 2023[3] - Net income attributable to Altice USA stockholders for Q2 2024 was $15,361, compared to $78,300 in Q2 2023, reflecting a decrease of 80.4%[15] - The diluted net income per share for Q2 2024 was $0.03, down from $0.17 in Q2 2023, reflecting an 82.4% decrease[15] - Net income for Q2 2024 was $21,702 thousand, a decrease from $86,144 thousand in Q2 2023, while net income for the first half of 2024 was $8,806 thousand compared to $117,314 thousand in the same period last year[20] Cash Flow and Expenses - Free Cash Flow deficit was ($40.9) million, impacted by $57 million in higher cash taxes year over year[3] - Free Cash Flow for the first six months of 2024 was $706,455, down from $855,687 in the same period of 2023, indicating a decrease of 17.4%[16][18] - Total operating expenses for Q2 2024 were $1,739,173, a decrease of 3.4% from $1,800,408 in Q2 2023[15] - Net cash flows from operating activities for Q2 2024 were $306,794 thousand, a decline from $438,841 thousand in Q2 2023, while for the first half of 2024, it was $706,455 thousand compared to $855,687 thousand in the same period last year[21] - Free cash flow for Q2 2024 was a deficit of $40,927 thousand, worsening from a deficit of $34,604 thousand in Q2 2023, while for the first half of 2024, free cash flow was $22,639 thousand compared to a deficit of $200,655 thousand in the same period last year[21] Capital Expenditures and Debt - Capital expenditures were $347.7 million, a decrease of 26.6% year over year, with a capital intensity of 15.5%[3] - Capital expenditures for the first six months of 2024 were $683,816, a decrease from $1,056,342 in the same period of 2023, representing a reduction of 35.3%[16] - Consolidated net debt for Altice USA was $24,566 million, representing a consolidated net leverage of 7.2x L2QA[8] - Consolidated net debt as of June 30, 2024, was $23,167 million, with gross debt consolidated at $24,928 million[23] - The net leverage ratio (LTM) was 7.0x as of June 30, 2024, consistent with the previous quarter, while the weighted average cost of debt (WACD) was 6.6%[25] Customer Metrics - Fiber customer net additions reached 434k, a 74% increase in total fiber customers compared to Q2 2023[5] - Mobile line net additions were +33k in Q2 2024, a 2.0x acceleration year over year, reaching a total of 385k lines[5] - Total broadband primary service units (PSUs) experienced net losses of -51k in Q2 2024, compared to -37k in Q2 2023[5] Strategic Focus and Future Outlook - The company is focusing on market expansion and new product development to drive future growth, although specific details were not disclosed in the earnings call[28] - Altice USA emphasizes its commitment to future financial performance, including revenue streams and operational improvements[34] - The company is focused on growth in broadband, fiber, video, and mobile services as part of its strategic objectives[34] - Altice USA's forward-looking statements include expectations for Free Cash Flow and capital expenditure plans[34] - The company acknowledges risks and uncertainties that could affect actual results compared to its forward-looking statements[34] - Altice USA plans to enhance its product offerings and base management strategy to improve operational performance[34] Media and Advertising - Altice USA serves approximately 4.7 million residential and business customers across 21 states through its Optimum brand[33] - The company operates Optimum Media, providing audience-based, multiscreen advertising solutions to various businesses[33] - The company provides hyper-local, national, and international news through its News 12 and i24NEWS networks[33]

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Altice USA, Inc. due to lower revenues, with a consensus EPS estimate of $0.08, reflecting a -52.9% change from the previous year [2][8] - The actual earnings report, expected on August 1, will significantly influence the stock price based on how results compare to these estimates [1][8] Financial Estimates - Revenues for Altice USA are projected to be $2.25 billion, down 3.1% from the same quarter last year [2] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [2] Earnings Surprise Prediction - The Zacks Earnings ESP model shows a negative Earnings ESP of -21.05% for Altice USA, suggesting analysts have become bearish on the company's earnings prospects [4][6] - The Most Accurate Estimate is lower than the Zacks Consensus Estimate, indicating a potential earnings miss [4][6] Historical Performance - In the last reported quarter, Altice USA was expected to post earnings of $0.01 per share but instead reported a loss of $0.05, resulting in a surprise of -600% [7] - Over the last four quarters, the company has beaten consensus EPS estimates two times [7] Comparative Industry Analysis - Arista Networks, a peer in the Zacks Communication - Components industry, is expected to report earnings of $1.94 per share, reflecting a year-over-year increase of +22.8% [9] - Arista Networks has a positive Earnings ESP of 1.72% and a Zacks Rank of 1, indicating a strong likelihood of beating consensus EPS estimates [9]

NEW YORK, June 26, 2024 /PRNewswire/ -- MiCTA, a national, non-profit group purchasing organization located in Saginaw, MI, has named Lightpath as an approved vendor for its Internet, Ethernet, Wavelengths, Dark Fiber, Private Networks, Voice, and all of the company's managed service offerings. The Master Service Agreement will enable MiCTA members to purchase Lightpath's services at a discount. "MiCTA is pleased to welcome Lightpath as an Approved MiCTA vendor," stated Tim von Hoff, Chief Operating Officer ...