SiriusXM Q1 revenue down 2% to $2.14B; raises 2023 adjusted EBITDA and FCF guidance

SIRIUS XM HOLDINGS INC.

2023-Q1 EPS reported $0.06 revenue$2,144,000,000

Net income $233M ($0.06 EPS) vs $309M ($0.08) prior year; Adjusted EBITDA $625M, down 9%.
Raised FY2023 guidance: Adj. EBITDA ~$2.75B, FCF ~$1.1B; revenue reaffirmed ~$9.0B.
SiriusXM self-pay subscribers at 32.0M, down 347k from Q4; churn near record low at 1.6%.
Thomas Barry appointed CFO effective April 28, 2023; returns $161M to shareholders via dividends ($94M) and buybacks ($67M).
Content deals: Kevin Hart renewal, NHL and NASCAR extensions; Mercedes-Benz makes SiriusXM standard on all US models.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SIRIUS XM HOLDINGS INC. reported first quarter 2023 results: revenue $2.14 billion, net income $233 million, EPS $0.06. Guidance raised.

Period: first quarter 2023
Revenue: $2.14 billion
Net income: $233 million
EPS: $0.06
Guidance: raised
Result: reported results

Exact text from the filing

is incorporated by reference in its entirety. --- EX-99.1 (EX-99.1) --- SiriusXM Reports First Quarter 2023 Operating and Financial Results • First Quarter 2023 Revenue of $2.14 Billion, Down 2% Year-Over-Year • Net Income of $233 Million, Down from $309 Million in 2022; Diluted EPS of $0.06 • Adjusted EBITDA of $625 Million and Free Cash Flow of $144 Million •

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Source: SEC EDGAR

accession 0000908937-23-000013

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