Workflow
Liberty Broadband(LBRDK) - 2024 Q1 - Quarterly Results

Revenue and Earnings - Liberty Broadband reported total revenue of $245 million for Q1 2024, a slight decrease of 1% compared to $246 million in Q1 2023[19]. - GCI's consumer revenue declined by 1% to $117 million, driven by decreases in video revenue[13]. - Net earnings attributable to Liberty Broadband shareholders surged from $69 million in Q1 2023 to $241 million in Q1 2024, representing a substantial increase of 249%[31]. Operating Income and Adjusted OIBDA - GCI's operating income increased by 28% to $37 million in Q1 2024, up from $29 million in Q1 2023[10]. - Liberty Broadband's adjusted OIBDA increased from $82 million in Q1 2023 to $85 million in Q1 2024, reflecting a growth of 3.7%[28]. - The company's operating income rose significantly from $16 million in Q1 2023 to $28 million in Q1 2024, marking a 75% increase[31]. Cash Flow and Expenditures - GCI's cash decreased by $9 million in Q1 2024, primarily due to debt repayment and capital expenditures[8]. - Capital expenditures for GCI in Q1 2024 were $46 million, with expectations of approximately $200 million for the full year 2024[15]. - Capital expenditures increased from $54 million in Q1 2023 to $61 million in Q1 2024, an increase of 12.9%[32]. - The net cash provided by operating activities rose from $41 million in Q1 2023 to $52 million in Q1 2024, an increase of 26.8%[32]. Debt and Assets - Liberty Broadband's total debt decreased by $41 million to $3.769 billion in Q1 2024, with GCI's leverage at 2.8x[9]. - Liberty Broadband's long-term debt decreased from $3,733 million in 2023 to $3,636 million in 2024, a decline of 2.6%[30]. - Total assets increased slightly from $15,641 million in 2023 to $15,740 million in 2024, a growth of 0.6%[30]. - Cash and cash equivalents decreased from $158 million in Q1 2023 to $108 million in Q1 2024, a decline of 31.6%[30]. - The company reported a decrease in total current assets from $430 million in 2023 to $350 million in 2024, a reduction of 18.6%[30]. Share Repurchase and Authorizations - Liberty Broadband repurchased 103 thousand shares of Series C common stock at an average cost of $79.88 per share, totaling $8.2 million from February 1, 2024, to April 30, 2024[2]. - Liberty Broadband's remaining repurchase authorization as of April 30, 2024, is approximately $1.7 billion[2]. Expenses - The company experienced a decrease in selling, general and administrative expenses from $110 million in Q1 2023 to $105 million in Q1 2024, a reduction of 4.5%[31]. - GCI's Adjusted OIBDA remained flat at $90 million for both Q1 2023 and Q1 2024, with an Adjusted OIBDA margin of 36.7%[10].