Cable One(US:CABO)2025-11-06 21:17Financial Performance - Total revenues for the third quarter of 2025 were $376.0 million, a decrease of $17.5 million or 4.5% compared to $393.6 million in the same quarter of 2024[6] - Net income increased to $86.5 million in the third quarter of 2025, up 95.7% from $44.2 million in the prior year quarter[8] - Adjusted EBITDA for the third quarter of 2025 was $201.9 million, down 5.5% from $213.6 million in the third quarter of 2024, with an Adjusted EBITDA margin of 53.7%[9] - Comprehensive income for Q3 2025 was $83,439,000, a significant increase from $13,056,000 in Q3 2024[32] - Net income for the three months ended September 30, 2025, was $86,532,000, a 95.7% increase from $44,215,000 in 2024[38] - The net profit margin improved to 23.0% from 11.2% in the previous year[38] Revenue Breakdown - Residential data revenues were $227.6 million, a decrease of $2.8 million or 1.2% year-over-year, while business data revenues increased by $0.2 million or 0.4%[6] - Residential video revenue declined by 16.2% to $44,971,000 from $53,650,000 year-over-year[32] - The average revenue per user (ARPU) for residential data increased by 3.2% to $82.17 from $79.61[43] Cash Flow and Operating Activities - The company experienced a net cash provided by operating activities of $156.5 million, down from $176.2 million in the same quarter of 2024[10] - Net cash provided by operating activities decreased by 11.2% to $156,519,000 from $176,209,000 year-over-year[40] Capital Expenditures and Debt Management - Capital expenditures for the third quarter of 2025 totaled $71.8 million, a decrease of 6.8% compared to $77.0 million in the prior year quarter[10] - Payments on long-term debt increased significantly to $194,545,000 from $54,704,000 year-over-year[40] - The company paid down $197.9 million of debt during the third quarter of 2025, bringing total debt paydowns for the year to $313.2 million[6] - Long-term debt reduced to $2,687,106,000 from $3,571,536,000[34] Customer Metrics - Total residential customers decreased by 5.4% to 934,200 from 987,100 in the prior year[43] - Total customers declined by 4.4% to 1,042,300 from 1,089,800 year-over-year[43] Operating Expenses - Operating expenses (excluding depreciation and amortization) decreased by 8.2% to $96,038,000[32] - Selling, general and administrative expenses increased by 14.0% to $100,835,000[32] Liquidity and Financial Position - As of September 30, 2025, the company had $1.195 billion of committed excess liquidity under its $1.25 billion capacity Revolver[6] - The weighted average cost of debt was 3.9% for the third quarter of 2025[6] - Total assets decreased to $5,694,391,000 from $6,525,895,000 as of December 31, 2024[34] - Equity investments decreased to $651,645,000 from $815,812,000[34] Strategic Focus - The company continues to focus on a multi-phase strategy to return to sustainable growth despite higher than expected churn in residential data customers[6]