Charter Communications' (CHTR) division, Spectrum Enterprise, is leaving no stone unturned to expand its technology solutions.Spectrum Enterprise focuses on offering Internet, phone, and television services to small businesses in 41 states across the United States. It recently launched its Internet, Mobile, TV, and Voice services in Cleveland County, NC, and other rural communities.Spectrum Enterprise provides a fiber-rich, nationwide network with over 99.9% network reliability and increased speed and bandw ...

Charter has Awarded More Than $1 Million in Scholarships for Underrepresented College Students STAMFORD, Conn., Jan. 8, 2024 /PRNewswire/ -- Charter Communications, Inc. today opened applications for Spectrum Scholars, the company's annual scholarship program for underrepresented college students with financial need. Each of the rising college juniors selected for the 2024-2025 program will receive a $20,000 scholarship, a Charter mentor and the opportunity for a paid internship with the company. Eligible s ...

The Streaming Home of Thousands of Hours of Exclusive Shows and Movies, Now Included for Spectrum Video Customers at No Extra CostSTAMFORD, Conn. and BURBANK, Calif., Jan. 4, 2024 /PRNewswire/ -- Charter Communications, Inc. and The Walt Disney Company today announced that the ad-supported version of Disney+ is now available in all Spectrum TV Select packages nationwide at no additional cost. As part of the two companies' transformative new distribution agreement, Charter video customers can immediately beg ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Charter Communications (CHTR) . This company, which is in the Zacks Cable Television industry, shows potential for another earnings beat.When looking at the last two reports, this cable provider has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 5.91%, on average, in the last two ...

The atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022.This year proved to be yet another tough one for pay TV, as more people cut the cable cord.But it wasn't exactly kind to streaming services, either, as platforms dealt with subscriber declines, slumping ad revenue and stubborn losses while Netflix continued to assert its dominance.Still, the age of the cable bundle is giving way to the era of a new kind of bundle that could give both streamers an ...

Financial Data and Key Metrics - Revenue was essentially flat year-over-year, with adjusted EBITDA growing at 0.7% year-over-year [3] - Net income attributable to Charter shareholders was $1.3 billion in Q3, up from $1.2 billion last year [27] - Residential revenue declined by 0.3% year-over-year, but grew by 0.3% when excluding Disney-related credits [23] - Enterprise revenue grew by 3.7% year-over-year, driven by a 5.9% increase in enterprise PSUs [24] - Other revenue grew by 28.8% year-over-year, driven by higher mobile device sales [25] - Cost to service customers increased by 3.7% year-over-year, driven by workforce investments and mobile growth [26] Business Line Performance - Mobile lines grew by 594,000 in Q3, with over 7 million total mobile lines and 12% of Internet customers now using mobile services [5][18] - Video customers declined by 327,000, with 100,000 disconnects due to the Disney programming dispute [17] - Residential Internet churn reached a record low in Q3, despite the Disney dispute [19] - Spectrum One promotional lines showed healthy data usage and low incremental churn [20] - Rural subsidized passings achieved nearly 50% penetration at the 12-month mark, exceeding expectations [6] Market Performance - Residential customers grew by 0.2% year-over-year, driven by Internet growth offset by video-only churn [22] - Enterprise revenue growth was driven by strong PSU growth, particularly in non-wholesale segments [24] - Advertising revenue declined by 20.3% year-over-year, primarily due to lower political revenue [59] Strategy and Industry Competition - The company is focused on expanding its rural footprint, with plans to add 300,000 new subsidized rural passings in 2023 and accelerate growth in 2024 [30] - Spectrum One, the company's converged product offering, is performing well with market-leading pricing and differentiated features [10] - The company is modernizing its video distribution agreements, aiming to integrate linear and direct-to-consumer (DTC) services seamlessly [32] - Network evolution is progressing well, with the goal of maintaining the fastest Internet and WiFi service claims across the entire footprint [36] Management Commentary on Operating Environment and Future Outlook - Management expects upward trends in EBITDA growth to continue as operating investments yield benefits [3] - The company is optimistic about the long-term value creation from its strategic initiatives, including network evolution and rural expansion [50] - Pressure on EBITDA growth is expected to abate in 2024 as transaction efficiency improves and employee tenure investments mature [29] - The company is confident in its ability to compete against fiber and fixed wireless access competitors, particularly in high-data-usage segments [53] Other Important Information - The company repurchased 2 million shares and common units, totaling $854 million, at an average price of $421 per share [65] - Capital expenditures for 2023 are expected to total approximately $11.2 billion, with $7.2 billion excluding line extensions [62] - The company is working on additional disclosures to provide more transparency around the value created by rural investments [113] Q&A Session Summary Question: Broadband growth in core markets vs. rural markets [76] - Core markets are progressing slower than expected, partly due to fixed wireless access competition and the Disney programming dispute [81] - Rural markets are performing well, with faster-than-expected penetration rates [78] Question: Video business outlook in 5 years [77] - The traditional video business will still exist, but the company aims to integrate DTC services to increase stickiness and value [82] - Xumo will serve as a marketplace for selling DTC apps, benefiting both customers and programmers [83] Question: ARPU impact of Spectrum One [97] - ARPU growth for Internet was 2.6% year-over-year, with a 1.1% difference due to Spectrum One mobile allocation [124] - As free lines roll off, ARPU is expected to stabilize and potentially see positive pressure [104] Question: CapEx outlook for network evolution, line extensions, and video [152] - Network evolution spend is expected to be around $5.5 billion, with potential timing adjustments [105] - Rural passings are expected to accelerate, with a run rate of 440,000 passings in 2024 [155] Question: BEAD process and line extension spend [134] - The company may not participate in BEAD investments in states with restrictive guidelines, focusing instead on states that allow flexibility and healthy returns [137] Question: EBITDA acceleration outlook [159] - EBITDA growth is expected to improve in 2024, driven by political advertising, mobile free line roll-off, and operational efficiencies [163] Question: ACP program exposure [166] - The company is the largest ACP provider in the country and has tools to retain customers if the program is not renewed [169][171]

32.1 32.2 29.9 30.0 2.2 2.2 3Q22 3Q23 0.2% 1.3% 0.3% • any events that disrupt our networks, information systems or properties and impair our operating activities or our reputation; • the effects of governmental regulation on our business including subsidies to consumers, subsidies and incentives for competitors, costs, disruptions and possible limitations on operating flexibility related to, and our ability to comply with, regulatory conditions applicable to us; • the ability to hire and retain key personn ...

Financial Performance - For the three months ended September 30, 2023, Charter Communications reported a net income of $181 million, compared to $182 million for the same period in 2022, reflecting a slight decrease of 0.5%[39]. - Total revenue for the three months ended September 30, 2023, was $13.584 billion, a 0.2% increase compared to $13.550 billion for the same period in 2022[82]. - Adjusted EBITDA for the three months ended September 30, 2023, was $5.449 billion, reflecting a 0.7% increase from $5.412 billion in the prior year[82]. - Consolidated net income for the three months ended September 30, 2023, was $1,255 million, compared to $1,021 million for the three months ended March 31, 2023[159]. - Net income attributable to Charter shareholders for the three months ended September 30, 2023, was $1,255 million, up from $1,185 million in the same period last year, reflecting a growth of 5.9%[183]. - Basic earnings per share for the three months ended September 30, 2023, were $8.42, compared to $7.51 for the same period in 2022, indicating an increase of 12.1%[183]. - Consolidated net income for the nine months ended September 30, 2023, was $4,032 million, a decrease of 9.7% from $4,464 million in 2022[185]. Revenue Streams - Charter's revenues for the nine months ended September 30, 2023, were impacted by competitive pressures from various market participants, including incumbent telephone companies and wireless broadband providers[5]. - Video revenue decreased by 8.6% to $4,004 million for the three months ended September 30, 2023, compared to $4,379 million in the same period of 2022[87]. - Mobile service revenue increased significantly by 33.8% to $581 million for the three months ended September 30, 2023, compared to $435 million in the same period of 2022[87]. - Advertising sales revenues decreased by $97 million and $201 million during the three and nine months ended September 30, 2023, respectively, primarily due to a decline in political ad revenue[60]. - Advertising sales for the three months ended September 30, 2023, were $384 million, down from $481 million in the same period in 2022, a decline of 20.2%[183]. Customer Metrics - The company experienced a decrease of 891,000 residential video customers from September 30, 2022, to September 30, 2023, attributed to a higher mix of lower-cost video packages and $63 million in customer credits due to programming issues[58]. - The company reported a decrease of 969,000 residential wireline voice customers from September 30, 2022, to September 30, 2023[59]. - SMB customers grew by 29,000 from September 30, 2022, to September 30, 2023, indicating a positive trend in customer acquisition[91]. Operating Costs and Expenses - Operating costs for the three months ended September 30, 2023, were approximately $8.299 billion, compared to $8.247 billion for the same period in 2022, indicating a slight increase[73]. - Operating costs and expenses for the three months ended September 30, 2023, were $10,458 million, compared to $10,626 million for the same period in 2022, a decrease of 1.58%[183]. - Programming costs for the three months ended September 30, 2023, were approximately $2.6 billion, representing 31% of total operating costs, down from 35% in the same period of 2022[61]. - Costs to service customers increased by $76 million for the three months ended September 30, 2023, primarily due to adjustments in job structure and benefits[93]. Capital Expenditures and Investments - Capital expenditures for 2023 are projected to be approximately $7.2 billion, excluding line extensions, with an additional $4 billion expected for line extensions[105]. - Capital expenditures for the three months ended September 30, 2023, were $3.0 billion, up from $2.4 billion in the same period of 2022, driven by increased spending on network evolution and customer premise equipment[124]. - The subsidized rural construction initiative accounted for $512 million in capital expenditures for the three months ended September 30, 2023, compared to $440 million in the same period of 2022[126]. - The increase in capital expenditures for the nine months ended September 30, 2023, was primarily due to an increase in line extensions related to the rural construction initiative and continued network expansion[124]. - Net cash used in investing activities increased to $8.5 billion for the nine months ended September 30, 2023, compared to $6.3 billion for the same period in 2022, primarily due to higher capital expenditures[123]. Debt and Financing - The total debt as of September 30, 2023, included a new Term B-3 loan of $750 million, maturing in 2030, with pricing set at SOFR plus 2.25%[35]. - Net interest expense increased by $146 million for the three months ended September 30, 2023, primarily due to higher average interest rates and an increase in average debt outstanding of approximately $1.2 billion[64]. - The company expects to utilize free cash flow and cash on hand to fund projected cash needs, with approximately $3.3 billion available under credit facilities as of September 30, 2023[100]. - In February 2023, the company issued $1.1 billion of 7.375% senior unsecured notes due March 2031[164]. - The estimated fair value of the company's senior unsecured and secured notes and debentures as of September 30, 2023, was $97,588 million[190]. Stock and Shareholder Information - The company purchased 196,409 shares of Class A common stock for $78 million during the three months ended September 30, 2023, compared to 836,655 shares for $385 million in the same period of 2022[21]. - Charter purchased approximately 1.8 million shares of its Class A common stock for approximately $776 million during the three months ended September 30, 2023[132]. - As of September 30, 2023, Charter had remaining board authority to purchase an additional $672 million of Charter's Class A common stock and/or Charter Holdings common units[132]. - The company repurchased $790 million in treasury stock during the three months ended September 30, 2023[159]. - The total unrecognized compensation remaining to be recognized in future periods totaled $472 million for stock options as of September 30, 2023[176]. Other Notable Information - The company is currently involved in multiple patent infringement lawsuits, with trials scheduled for December 2023 and October 2024, which may impact future operations[178]. - The company reported a foreign currency remeasurement gain of $64 million related to Sterling Notes for the three months ended September 30, 2023[170]. - The company reported a loss on equity investments primarily related to its joint venture in Xumo, a next-generation streaming platform[202]. - The company experienced a decrease in accounts receivable, which improved to $(11) million from $(262) million in the previous year[185].

Charter Communications, Inc. (NASDAQ:CHTR) Q2 2023 Earnings Conference Call July 28, 2023 8:30 AM ET Company Participants Stefan Anninger - IR Chris Winfrey - President and CEO Tom Rutledge - Executive Chairman Jessica Fischer - CFO Conference Call Participants Ben Swinburne - Morgan Stanley Phil Cusick - JPMorgan John Hodulik - UBS Jonathan Chaplin - New Street Brett Feldman - Goldman Sachs Craig Moffett - MoffettNathanson Vijay Jayant - Evercore Bryan Kraft - Deutsche Bank Michael Rollins - Citi Operator ...

Financial Performance - Consolidated net income for the six months ended June 30, 2023, was $2,596 million, down from $3,097 million in 2022, representing a decrease of approximately 16.1%[93] - Charter Communications reported revenues of $13,659 million for the three months ended June 30, 2023, a slight increase from $13,598 million in the same period of 2022, and $27,312 million for the six months ended June 30, 2023, compared to $26,798 million in 2022[110] - The net income attributable to Charter shareholders for the three months ended June 30, 2023, was $1,223 million, down from $1,471 million in 2022, and for the six months, it was $2,244 million compared to $2,674 million in 2022[110] - Basic earnings per share for the three months ended June 30, 2023, were $8.15, a decrease from $8.96 in 2022, and diluted earnings per share were $8.05, down from $8.80 in 2022[110] - Total revenues increased by $61 million (0.5%) to $13,659 million for the three months ended June 30, 2023, compared to $13,598 million for the same period in 2022[178] Revenue Streams - Revenue from Internet services for the three months ended June 30, 2023, was $5.733 billion, an increase from $5.562 billion in the same period of 2022, representing a growth of 3.1%[128] - The decrease in video revenues was attributed to fewer customers and a higher mix of lower-cost video packages within the video customer base[53] - The company added 648,000 mobile lines, 77,000 Internet customers, and 17,000 residential and SMB customer relationships during the second quarter of 2023[158] - SMB revenues grew due to an increase of 37,000 SMB customers from June 30, 2022, to June 30, 2023[167] Operating Costs and Expenses - Operating costs and expenses for the three months ended June 30, 2023, were $8,305 million, up from $8,193 million in 2022, while for the six months, they totaled $16,816 million compared to $16,327 million in 2022[110] - Operating expenses increased primarily due to adjustments in job structure and pay, resulting in a $72 million increase in costs to service customers for the three months ended June 30, 2023[191] - Sales and marketing costs increased by $31 million and $97 million during the three and six months ended June 30, 2023, respectively, primarily due to higher staffing across sales channels[169] Cash Flow and Capital Expenditures - Free cash flow decreased by $991 million (59.7%) to $668 million for the three months ended June 30, 2023, compared to $1,659 million for the same period in 2022[200] - Capital expenditures were $2.8 billion and $5.3 billion for the three and six months ended June 30, 2023, respectively, up from $2.2 billion and $4.1 billion in 2022[220] - Net cash used in investing activities was $5.6 billion for the six months ended June 30, 2023, compared to $4.1 billion in 2022[237] Shareholder Equity and Debt - Total shareholders' equity rose to $14,027 million from $12,549 million, an increase of about 11.8%[92] - The company had total long-term debt of $97,760 million as of June 30, 2023, compared to $97,970 million as of December 31, 2022[118] - Long-term debt borrowings totaled $11,048 million, while repayments were $10,735 million, resulting in a net increase in long-term debt[93] - The principal amount of Charter's debt as of June 30, 2023, was $97.8 billion, consisting of various types of loans and notes[198] Stock and Share Buybacks - Charter purchased approximately 1.0 million shares of Class A common stock for approximately $324 million during the three months ended June 30, 2023[239] - Share buybacks for the three months ended June 30, 2023, totaled 954,330 shares, compared to 7,264,833 shares in the same period of 2022[122] - The company expects to continue buying back its common stock consistent with its leverage target range, depending on market conditions[199] Tax and Other Expenses - Income tax expense recognized was $444 million and $818 million for the three and six months ended June 30, 2023, compared to $489 million and $834 million for the same periods in 2022, indicating a decrease in tax expense due to lower pretax income[64] - The company reported a decrease in property tax and insurance expense during the three and six months ended June 30, 2023, due to favorable developments on prior year workers' compensation claims[54] Internal Controls and Financial Reporting - The company has not experienced any material changes in its internal control over financial reporting that could affect its financial reporting[41]