Altice USA reports Q3 2023 revenue down 3.2% YoY to $2.32B; broadband net losses narrow

Optimum Communications, Inc.

2023-FY EPS reported $0.38 revenue$6,935,452,000

Net income $66.8M ($0.15 diluted EPS) vs $84.9M prior year; Adjusted EBITDA $915.5M, down 4.1% YoY.
Residential revenue $1.83B (-3.4% YoY); total broadband net losses improved to -31k from -43k YoY.
Optimum Mobile net adds +24k (5x YoY growth), reaching 288k lines; fiber customers +45k net adds, best quarter.
Cash capex $353.2M, down 28.4% YoY; operating FCF $562.3M, up 22.0% YoY; FCF $121.3M, down 10.6%.
Net leverage 6.7x L2QA; target 4.5x-5.0x; weighted average cost of debt 6.1%.

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 0.95

Optimum Communications, Inc. reported quarter ended September 30, 2023 results: revenue $2.32 billion, net income $66.8 million, EPS $0.15.

Period: quarter ended September 30, 2023
Revenue: $2.32 billion
Net income: $66.8 million
EPS: $0.15
Result: reported results

Exact text from the filing

Total Revenue was $2.32 billion, down -3.2% YoY This included Residential revenue decline of -3.4% YoY, Business Services revenue growth of +0.1% YoY and News & Advertising revenue decline of -10.8% YoY (or News & Advertising revenue growth of +4.9% YoY excluding political revenue). ◦ Residential Revenue (6) was $1.83 billion, down -3.4% YoY Driven mostly due to the loss of higher ARPU video customers over the last year. ◦ Residential revenue per customer (7) was $138.42 Grew sequentially +$0.98 in Q3-23 vs Q2-23, and was down -0.6% YoY. ◦ Business Services Revenue was $366.9 million, grew +0.1% YoY This included Lightpath revenue growth of +2.3% YoY, and SMB / Other decline of -0.7% YoY. ◦ News and Advertising Revenue was $107.5 million, down -10.8% YoY Excluding political revenue, News & Advertising grew +4.9% YoY. • Net income attributable to stockholders was $66.8 million ($0.15/share on a diluted basis)

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Source: SEC EDGAR

accession 0001628280-23-035984

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