Company Overview - WOW! Internet, TV & Phone is a leading broadband services provider, now offering all-fiber services in Brighton, Michigan, as part of its Greenfield expansion initiative [2][6] - The company aims to add 80,000 homes to its service area in Michigan in the near future [2] - WOW! serves nearly 2 million residential, business, and wholesale consumers across 19 markets, primarily in the Midwest and Southeast [5] Service Offerings - WOW! provides a broad suite of services, including high-speed internet, cable TV, home phone, mobile phone, business data, voice, and cloud services [5] - The company offers straightforward pricing with no annual contracts and no data caps, making it easier for customers to understand their options [1][5] - WOW! mobile powered by Reach and residential bundling options with YouTube TV are also part of the service portfolio [3] Market Presence - The launch in Brighton is part of a broader strategy to enhance service availability in Central Michigan, with ongoing construction in additional communities [6] - WOW! has been recognized for its exceptional human resources practices, winning the Best & Brightest Company to Work For award for seven consecutive years [5]

Core Insights - WOW! has been recognized as a Best Company To Work For In Florida, highlighting its strong workplace culture and employee satisfaction [1] - The company is expanding its all-fiber services in Hernando County, Florida, with plans to add 44,000 homes in the coming weeks and months [5] Company Overview - WOW! is a leading broadband provider in the U.S., serving nearly 2 million residential, business, and wholesale consumers across 19 markets, primarily in the Midwest and Southeast [3] - The company offers a diverse range of services, including high-speed Internet, cable TV, home and mobile phone services, business data, voice, and cloud services [3] Service Expansion - WOW! has launched its all-fiber services in Hernando Beach, Florida, following a recent rollout in Spring Hill, enhancing its service availability in the region [4] - The new services feature simplified pricing, no annual contracts, and no data caps, making it easier for customers to access reliable broadband [5] Community Engagement - The CEO of WOW! emphasized the company's commitment to strengthening local connections and providing best-in-class customer service to residents and businesses in Hernando Beach [6]

Core Insights - WOW! Internet, TV & Phone has been recognized as a 2024 Top 50 DEI Team by the OnCon Icon Awards, highlighting its commitment to diversity, equity, and inclusion [1][4] Group 1: Recognition and Awards - The OnCon Icon Awards are determined through a combination of organizational observation and public voting, recognizing teams that demonstrate success and positive impact [2] - WOW!'s Inclusion and Belonging team was acknowledged for its contributions to fostering a workplace culture that values respect, integrity, and accountability [3][4] Group 2: Company Culture and Values - The Inclusion and Belonging team at WOW! is dedicated to creating a workplace where all employees are valued and empowered, promoting policies that inspire collaboration [3] - The team has implemented training for talent acquisition personnel to engage a diverse candidate pool, aligning with WOW!'s diverse customer base [3] Group 3: Company Overview - WOW! is a leading broadband provider serving nearly 2 million customers across 19 markets, primarily in the Midwest and Southeast [5] - The company offers a wide range of services, including high-speed internet, cable TV, and cloud services, and has been recognized multiple times for its exceptional human resources practices [5]

Financial Data and Key Metrics Changes - High-speed data (HSD) revenue for Q3 2024 was $107.5 million, a decrease of 2.1% year-over-year but an increase of 2.4% from Q2 2024, attributed to a small rate increase and simplified pricing [11][19] - Total revenue for Q3 2024 decreased by 8.7% to $158 million, with video and telephony revenue dropping by 28% and 9.5% respectively [19] - Adjusted EBITDA reached a record $77.3 million, up 9% year-over-year, with an adjusted EBITDA margin of 48.9% [11][20] Business Line Data and Key Metrics Changes - The penetration rate in greenfield fiber markets increased to 17.5%, up from 15.4% at the end of Q2 2024, driven by strong performance in the residential business [13] - The Edge-out penetration rate for the 2024 vintage increased to 45%, growing over 6 percentage points, while the 2023 vintage reached 29.7% [14] - The traditional video business saw a decline to 66,300 subscribers, a 34% decrease from the same period last year [16] Market Data and Key Metrics Changes - The company experienced a loss of 4,400 HSD subscribers during the quarter, with approximately 1,900 losses attributed to the ending of the ACP program [14] - The company added 1,100 fiber HSD subscribers in greenfield markets and 1,200 in edge-out expansion markets, partially offsetting the drop in legacy footprint [14] Company Strategy and Development Direction - The company is focused on re-accelerating its fiber greenfield strategy, aiming to pass 400,000 new homes over the next few years [9][21] - The partnership with YouTube TV is expected to enhance content offerings and capitalize on the shift to video streaming [17] - The company plans to continue restructuring away from its video platform to improve efficiency and profitability [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery from hurricane impacts, estimating a loss of 6,000 to 7,000 subscribers due to the storms [30] - Positive trends were noted in legacy markets, with initiatives like speed upgrades and simplified pricing contributing to reduced churn and increased customer loyalty [31][32] - The company anticipates continued growth in penetration rates and customer acquisition in expansion markets [33] Other Important Information - The company closed a $200 million super priority term loan to enhance liquidity and support its fiber expansion initiatives [9][21] - Total capital spend for Q3 was $40.5 million, reflecting a significant decrease in expansion CapEx [22] Q&A Session Summary Question: Expectations for broadband trends excluding ACP impact and storm - Management noted that the impact from ACP roll-off is complete, and they are still assessing the hurricane's impact, estimating 6,000 to 7,000 subscriber losses [28][30] Question: CapEx plans and new builds - Management confirmed an additional $10 million in CapEx for greenfield expansion in Q4, bringing total greenfield spend for 2024 to around $70 million [34] Question: Financial projections and modeling - Management indicated that legacy markets remain profitable and cash-generating, while greenfield markets are still in the investment phase [38] Question: Update on acquisition proposals - Management stated that there are no new updates regarding the unsolicited acquisition proposals from Digital Bridge and Crestview Partners [41]

Group 1: Earnings Performance - WideOpenWest reported a quarterly loss of $0.27 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.15, marking an earnings surprise of -80% [1] - The company posted revenues of $158 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.45%, but down from $173.1 million year-over-year [2] - Over the last four quarters, WideOpenWest has only surpassed consensus EPS estimates once [2] Group 2: Stock Performance and Outlook - WideOpenWest shares have increased approximately 27.7% since the beginning of the year, outperforming the S&P 500's gain of 20.1% [3] - The company's earnings outlook is mixed, with the current consensus EPS estimate for the coming quarter at -$0.14 on revenues of $156.1 million, and -$0.61 on revenues of $633.7 million for the current fiscal year [7] - The Zacks Rank for WideOpenWest is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Cable Television industry, to which WideOpenWest belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Financial Performance - Total revenue for the three months ended September 30, 2024, was $158.0 million, a decrease of 8.9% compared to $173.1 million for the same period in 2023[6]. - Net loss for the three months ended September 30, 2024, was $22.4 million, compared to a net loss of $104.5 million for the same period in 2023[6]. - The company reported a basic loss per common share of $0.27 for the three months ended September 30, 2024, compared to a basic loss per share of $1.29 for the same period in 2023[6]. - The net loss for the nine months ended September 30, 2024, was $48.2 million, compared to a net loss of $244.2 million for the same period in 2023[12]. - Total revenue for the three months ended September 30, 2024, was $158.0 million, a decrease of 8.9% from $173.1 million for the same period in 2023[22]. - Subscription revenue decreased by $14.3 million, or 9%, during the three months ended September 30, 2024, compared to the same period in 2023[118]. Expenses and Liabilities - Operating expenses (excluding depreciation and amortization) decreased to $62.6 million for the three months ended September 30, 2024, from $75.6 million in the same period of 2023, reflecting a reduction of 17.8%[6]. - The company incurred impairment losses on intangibles amounting to $259.8 million in the previous year[12]. - Selling, general and administrative expenses increased by $0.4 million, or 1%, during the three months ended September 30, 2024, compared to the same period in 2023[123]. - Interest expense increased by $12.7 million, or 67%, for the three months ended September 30, 2024, and by $19.3 million, or 38%, for the nine months ended September 30, 2024, compared to the same periods in 2023, primarily due to higher debt balances and new interest rate derivatives[126]. - Total liabilities increased to $1,277.5 million as of September 30, 2024, compared to $1,256.5 million as of December 31, 2023[5]. Assets and Equity - Total assets as of September 30, 2024, were $1,494.1 million, a decrease from $1,514.7 million as of December 31, 2023[5]. - The company reported a total stockholders' equity of $216.6 million as of September 30, 2024[9]. - Stockholders' equity decreased from $258.2 million as of December 31, 2023, to $216.6 million as of September 30, 2024, a decline of approximately 16.1%[5]. - The company’s retained earnings showed a deficit of $27.9 million as of September 30, 2024, compared to accumulated earnings of $20.3 million as of December 31, 2023[5]. Cash Flow - Cash provided by operating activities for the nine months ended September 30, 2024, was $132.8 million, an increase from $90.4 million in the prior year[12]. - Cash and cash equivalents decreased to $21.6 million as of September 30, 2024, from $23.4 million as of December 31, 2023[4]. - The company reported a decrease in cash and cash equivalents of $1.8 million for the nine months ended September 30, 2024[12]. - Net cash provided by financing activities was $29.3 million for the nine months ended September 30, 2024, compared to $89.3 million for the same period in 2023[143]. Market and Competition - The company anticipates continued challenges due to increased competition and rising programming costs, impacting future performance[3]. - The company serves customers in 16 markets across the United States, including major cities in Michigan, Georgia, South Carolina, Alabama, Tennessee, and Florida[14]. Stock and Compensation - The company repurchased approximately 4.9 million shares for $50.4 million under its Share Repurchase Program, completed in June 2023[58]. - The stock incentive plan has authorized 18,424,128 shares for issuance, with 2,692,141 shares outstanding as of September 30, 2024[52][55]. - The Company recorded $2.4 million in stock-based compensation expense for the three months ended September 30, 2024, down from $3.5 million in the same period of 2023[54]. Debt and Financing - As of September 30, 2024, the total long-term debt, finance lease obligations, and other financing amounted to $976.1 million, an increase from $938.3 million as of December 31, 2023[49]. - The outstanding balance of Term B Loans was $706.4 million as of September 30, 2024, with an effective interest rate of 7.60%[49]. - The Company has a total available borrowing capacity of $250.0 million, with $245.0 million drawn on the Revolving Credit Facility as of September 30, 2024[49]. Impairment and Write-downs - The company recorded a loss of $2.4 million related to the estimated write-down of damaged fixed assets due to Hurricane Helene[38]. - The company recognized a non-cash impairment charge of $131.7 million for the three months ended September 30, 2023, but did not recognize such charges for the same period in 2024[125]. Future Projections - The company expects to recognize total expected revenue of $101.3 million from subscription services and other business services in future periods[33]. - Revenue from month-to-month residential subscription service contracts is expected to continue representing a significant portion of the company's revenue in future periods[30].

Financial Performance - Total Revenue for Q3 2024 was $158.0 million, a decrease of $15.1 million, or 8.7%, compared to Q3 2023[3] - HSD Revenue totaled $107.5 million, down $2.3 million, or 2.1%, compared to Q3 2023[3] - Net Loss for Q3 2024 was $22.4 million, an improvement from a net loss of $104.5 million in Q3 2023[8] - Adjusted EBITDA for Q3 2024 was $77.3 million, an increase of $6.4 million, or 9.0%, compared to Q3 2023, with an Adjusted EBITDA margin of 48.9%[9] - Total revenue for the three months ended September 30, 2024, was $158.0 million, a decrease of 8.9% from $173.1 million in the same period of 2023[21] - Total subscription services revenue for the nine months ended September 30, 2024, was $441.5 million, down 8.0% from $480.1 million in the prior year[21] - The company reported a net loss of $48.2 million for the nine months ended September 30, 2024, compared to a net loss of $244.2 million in the same period of 2023[22] - Adjusted EBITDA for the nine months ended September 30, 2024, was $158.0 million, an increase from $141.3 million in the same period of 2023[22] - The company reported a basic and diluted loss per common share of $0.59 for the nine months ended September 30, 2024, compared to a loss of $2.99 in the same period of 2023[21] - Adjusted EBITDA for the nine months ended September 30, 2024, was $214.7 million, representing an increase from $204.2 million in the same period of 2023, with an adjusted EBITDA margin of 44.9%[33] Subscriber Metrics - Total Subscribers as of September 30, 2024, were approximately 490,500, a decrease of 26,900, or 5%, compared to September 30, 2023[10] - The total number of subscribers decreased to 490,500 as of September 30, 2024, down from 517,400 as of September 30, 2023[35] - High-Speed Data (HSD) RGUs decreased to 480,600 as of September 30, 2024, from 503,400 as of September 30, 2023[35] - Video RGUs declined to 66,300 as of September 30, 2024, down from 100,800 as of September 30, 2023[35] Capital Expenditures and Debt - Capital Expenditures totaled $40.5 million for Q3 2024, a decrease of $24.0 million compared to Q3 2023[13] - Capital expenditures for the nine months ended September 30, 2024, were $164.1 million, a decrease from $188.3 million in the prior year[22] - Total outstanding long-term debt and finance lease obligations as of September 30, 2024, was $973.0 million[15] - The company closed on a new $200.0 million super-priority term loan on October 11, 2024, to strengthen its balance sheet[14] Market Expansion - Market Expansion projects passed an additional 1,700 homes in Q3 2024, with a 17.5% penetration rate in Greenfield initiatives[11] - Homes passed increased to 1,952,200 as of September 30, 2024, compared to 1,905,600 as of September 30, 2023[35] - The company serves nearly 2.0 million residential, business, and wholesale consumers across 16 markets, primarily in the Midwest and Southeast[23] Operational Expenses - The company incurred $17.4 million in non-recurring professional fees, M&A integration, and restructuring expenses for the three months ended September 30, 2024[33] - Interest expense increased to $31.6 million for the three months ended September 30, 2024, compared to $18.9 million in the same period of 2023[33] Future Guidance - Full Year 2024 guidance for Total Revenue is projected between $629.0 million and $633.0 million[17] Employee Recognition - The company has been recognized nine times as a Best & Brightest Company to Work For in the Nation, reflecting its commitment to exceptional human resources practices[23]

Continued to Grow Penetration Rates in Expansion MarketsENGLEWOOD, Colo., Nov. 4, 2024 /PRNewswire/ -- WideOpenWest, Inc. ("WOW!" or the "Company") (NYSE: WOW), one of the nation's leading broadband providers, with an efficient, high-performing network that passes nearly 2.0 million residential, business and wholesale consumers, today announced financial and operating results for the third quarter ended September 30, 2024.Third Quarter 2024 Highlights (1) Total Revenue of $158.0 million, a decrease of $15.1 ...

Core Insights - WOW! Internet, TV & Phone has expanded its all-fiber services to Spring Hill, Florida, marking the 10th Greenfield community in the state as part of its market expansion initiative [1][2] - The company plans to add 44,000 new homes in Hernando County, with ongoing construction to further expand its fiber network [1] - WOW! offers simplified all-in pricing for its services, which includes fast Internet speeds, necessary WiFi equipment, no annual contracts, and no data caps [2] Company Overview - WOW! is a leading broadband provider in the U.S., serving nearly 2 million residential, business, and wholesale consumers across 19 markets, primarily in the Midwest and Southeast [4] - The company has been recognized for its exceptional human resources practices, winning the Best & Brightest Company to Work For award for seven consecutive years [4]

ENGLEWOOD, Colo., Oct. 23, 2024 /PRNewswire/ -- WOW! Internet, TV & Phone (NYSE: WOW), a leading broadband provider in the United States, announced today it will host a webcast and conference call on Monday, November 4, 2024 at 4:30 p.m. ET to discuss financial and operating results for the third quarter 2024. WOW! will issue a news release reporting its results prior to the call.The conference call will be broadcast live on the company's investor relations website at ir.wowway.com. Those parties interested ...