Qurate Retail Q1 rev -4%; Adj OIBDA +25% cc; adj EPS $0.04; repaid $423M notes

QVC Group, Inc.

Revenue $2.34B (-4% ex-Zulily); QxH -4%, QVC Intl -3% (-1% cc), Cornerstone -11%.
Adjusted OIBDA $259M (+25% constant currency); gross margin expanded across segments.
GAAP net loss $1M ($0.00 EPS); adjusted net income $17M ($0.04 adj EPS).
Repaid remaining $423M of QVC 4.85% notes due April 2024; cash $1.1B, total debt $5.5B.
QVC leverage ratio 2.5x; incremental availability $1.9B under credit facility.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

QVC Group, Inc. reported the quarter ended March 31, 2024 results: net income Net income (loss) $(1), EPS $0.00.

Period: the quarter ended March 31, 2024
Net income: Net income (loss) $(1)
EPS: $0.00
Result: reported results

Exact text from the filing

tomer of women over 50.” First quarter 2024 operating results: ● Qurate Retail revenue decreased 4% (2) in both US Dollars and constant currency (3) ● Qurate Retail grew Adjusted OIBDA (4) 25% (2) in constant currency ● Qurate Retail reported diluted EPS of $0.00 o Adjusted diluted EPS (4) of $0.04 ● QxH revenue decreased 4% ● QVC International revenue decreased 3% o In constant currency, revenue decreased 1% ● Cornerstone revenue decreased 11% Corporate headlines: ● Repaid remaining $423 million principal outstanding of QVC’s 4.85% senior secured notes due April 2024 Discussion of Results Unless otherwise noted, the following discussion compares financial information for the three months ended March 31, 2024 to the same period in 2023.

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Source: SEC EDGAR

accession 0001355096-24-000017

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