Core Viewpoint - Charter Communications (CHTR) is expected to report quarterly earnings of $10.05 per share, reflecting an 18.4% year-over-year increase, with revenues projected at $13.76 billion, a 0.5% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised down by 0.1% in the last 30 days, indicating a reassessment by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue Projections - Analysts estimate 'Revenues- Residential- Total' to be $10.79 billion, indicating a year-over-year change of +0.3% [4]. - 'Revenues- Residential- Video' is projected to reach $3.58 billion, reflecting a -7.5% change from the previous year [5]. - 'Revenues- Advertising sales' are expected to be $351.44 million, down by -11.5% year-over-year [5]. - 'Revenues- Residential- Mobile service' is forecasted at $969.73 million, showing a significant increase of +31.6% year-over-year [5]. Customer Metrics - Total Mobile Lines are estimated at 10.91 million, up from 8.81 million in the same quarter last year [5]. - Total Mobile Lines - Net Additions are predicted at 515.47 thousand, compared to 557.00 thousand in the previous year [6]. - Total Video Customers are expected to be 12.48 million, down from 13.31 million year-over-year [6]. - Total Internet Customers are projected at 29.93 million, a decrease from 30.37 million in the previous year [7]. - Total Voice Customers are expected to reach 6.35 million, down from 7.45 million year-over-year [7]. - Estimated Passings stand at 57.54 million, slightly down from 57.77 million [8]. - Residential - Customer Relationships are expected to be 29.07 million, compared to 29.62 million in the same quarter last year [8]. Stock Performance - Over the past month, Charter's shares have returned -0.9%, while the Zacks S&P 500 composite has increased by +5.9% [8].

Financial Data and Key Metrics Changes - In Q1 2025, the company reported revenue of $1.1 billion, a 2% decrease on a rebased basis compared to the previous year [22] - Adjusted OIBDA increased by 8% year over year to $407 million, with three of the five operating segments posting year-over-year rebased growth [23] - Adjusted OIBDA less P and E additions rose to $286 million, representing 26% of revenue compared to 22% in the previous year [23] Business Line Data and Key Metrics Changes - The Cable and Wireless Caribbean segment generated $364 million in revenue with flat rebased growth, driven by a 5% increase in mobile revenue [26] - Cable and Wireless Panama reported $177 million in revenue, reflecting a 5% rebased growth, with mobile revenue increasing by 16% [28] - Liberty Networks generated $110 million in revenue, with a 3% rebased growth, while adjusted OIBDA declined by 2% due to higher network maintenance expenses [28] Market Data and Key Metrics Changes - In Puerto Rico, Q1 revenue was $298 million, reflecting an 11% rebased decline year over year, primarily due to lower mobile and B2B revenues [30] - Liberty Costa Rica delivered Q1 revenue of $158 million, with a 2% rebased growth, while adjusted OIBDA declined by 1% [31] - The company added 44,000 broadband and postpaid mobile subscribers in total during the quarter, with significant growth in Costa Rica and the Caribbean [6][7] Company Strategy and Development Direction - The company is focusing on fixed-mobile convergence (FMC) strategies to drive subscriber growth and reduce churn, with FMC penetration exceeding 30% in successful markets [7] - A joint venture with TIGO in Costa Rica is expected to consolidate the fixed market and create growth opportunities [18] - The company aims to maintain a capital expenditure (CapEx) of 14% of sales in 2025 and 2026, with a focus on network upgrades and efficiency [44] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in Puerto Rico but expressed optimism about improving operational performance and EBITDA in the second half of 2025 [38][39] - The company has withdrawn its three-year guidance due to slower recovery in Puerto Rico but remains positive about growth in other segments [38] - Management emphasized the importance of cost management and operational efficiency to support future growth [39] Other Important Information - The company reported total debt of $8.2 billion with a net leverage of 4.6 times, and a weighted average borrowing cost of 6.5% [32] - The company has approximately $600 million in cash and $800 million available under its revolving credit line [33] - The stock buyback program has been inactive for the last three quarters, with $240 million available under authorization [36] Q&A Session Summary Question: Competitive environment in Puerto Rico - Management noted that T-Mobile is the most aggressive competitor in terms of handset subsidies, but overall competition remains rational [44][46] Question: CapEx guidance for Puerto Rico - Management confirmed that CapEx is expected to trend towards 14% of sales, with a focus on mobile network improvements [44][51] Question: Funding for Puerto Rico business - Management stated that Puerto Rico operates as a separate credit silo, and funding decisions will be based on capital allocation methodologies [60][61] Question: Macroeconomic outlook for Puerto Rico - Management expressed confidence in the competitive environment and the potential for growth, despite challenges faced in the past [66][70] Question: Service compensation and cash interest expenses - Management indicated that service compensation is expected to trend in line with Q1, and cash interest expenses are anticipated to be higher due to recent refinancing activities [84][88]