Altice USA Q1 revenue down 5.3% to $2.29B; net income drops 87% to $25.9M; FCF negative $166M

Optimum Communications, Inc.

2023-FY EPS reported $0.06 revenue$2,293,978,000

Net income $25.9M ($0.06 diluted EPS) vs $196.6M ($0.43) YoY; adjusted EBITDA $868.4M, down 12.4%.
Residential revenue fell 5.6% to $1.81B; total customer relationships lost 26k in Q1.
Fiber broadband net adds +38k (best quarter); total fiber customers 210k; 2.37M FTTH passings.
Cash capex $582.9M (48.6% YoY increase); FY 2023 capex guidance reiterated at $1.7-1.8B.
Issued $1.0B senior notes at 11.25% due 2028 for general corporate purposes and refinancing.

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 0.99

Optimum Communications, Inc. reported the quarter ended March 31, 2023 results: revenue $2.29 billion, net income $25.9 million, EPS $0.06/share on a diluted basis.

Period: the quarter ended March 31, 2023
Revenue: $2.29 billion
Net income: $25.9 million
EPS: $0.06/share on a diluted basis
Result: reported results

Exact text from the filing

grow our business and become the connectivity provider of choice across all the communities we serve." Key Financial Highlights • Total Revenue declined -5.3% YoY in Q1 2023 to $2.29 billion, including Residential revenue decline of -5.6% YoY, Business Services revenue decline of -1.1% YoY and News & Advertising revenue decline of -13.9% YoY. • Net income

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Optimum Communications, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-015221

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