secwatch.observer — SEC 8-K summary
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Issuer:     Cable One, Inc. (CABO)
CIK:        0001632127
Form:       8-K
Filed at:   2024-09-24T23:59:59+00:00
Accession:  0001632127-24-000117
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 4.02
LLM model:  deepseek-v4-flash:cloud@v2

Cable One to restate 2022/2023 annual and 2024 quarterly financials due to equity method error on Clearwave Fiber
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- Net income overstated by $21.1M in FY2022, $42.8M in FY2023, and $19.5M in H1 2024; EPS adjusted down accordingly.
- Equity method investment loss understated; cumulative adjustment reduced equity investments by $114.1M as of June 30, 2024.
- Revenues, capex, operating cash flows, and Adjusted EBITDA are unaffected by the restatement.
- Material weakness in internal controls over equity method accounting identified; controls not effective as of Dec 31, 2023 and subsequent periods.
- Company to file Form 10-K/A and 10-Q/A amendments as soon as reasonably practicable.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1632127/000163212724000117/0001632127-24-000117-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1632127/000163212724000117/cabo-20240923.htm
  HTML page:      https://secwatch.observer/filing/0001632127-24-000117

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