New Strong Sell Stocks for March 18th
AVNS, CARS and CABO have been added to the Zacks Rank #5 (Strong Sell) List on March 18, 2025.
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JP Morgan Cuts Cable One Price Forecast Amid Fiber Competition, Challenges In Broadband Growth
JP Morgan analyst Sebastiano C Petti lowered price forecast for Cable One, Inc. CABO from $420 to $325, while maintaining a Neutral rating.
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Compared to Estimates, Cable One (CABO) Q4 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for Cable One (CABO) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
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Cable One (CABO) Q4 Earnings and Revenues Miss Estimates
Cable One (CABO) came out with quarterly earnings of $1.53 per share, missing the Zacks Consensus Estimate of $9.91 per share. This compares to earnings of $10.66 per share a year ago.
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Cable One, Inc. (CABO) Q4 2024 Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q4 2024 Earnings Conference Call February 27, 2025 5:00 PM ET Company Participants Jordan Morkert - Vice President-Investor Relations Julia Laulis - Chair of the Board, President & Chief Executive Officer Todd Koetje - Chief Financial Officer Conference Call Participants Gregory Williams - TD Cowen Sebastiano Petti - JPMorgan Brandon Nispel - KeyBanc Capital Markets Craig Moffett - MoffettNathanson Sam McHugh - BNP Paribas Steven Cahall - Wells Fargo Operator Thank you for standing by and welcome to the Cable One Fourth Quarter and Full Year 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.
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Cable One Reports Fourth Quarter and Full Year 2024 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter and year ended December 31, 2024. Three Months Ended December 31, (dollars in thousands) 2024 2023 $ Change % Change Revenues $ 387,213 $ 411,815 $ (24,602 ) (6.0 )% Net income (loss) $ (105,238 ) $ 103,496 $ (208,734 ) (201.7 )% Net profit margin (27.2 )% 25.1 % Cash flows from operating ac.
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Insights Into Cable One (CABO) Q4: Wall Street Projections for Key Metrics
Get a deeper insight into the potential performance of Cable One (CABO) for the quarter ended December 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
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Earnings Preview: Cable One (CABO) Q4 Earnings Expected to Decline
Cable One (CABO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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Cable One Declares Quarterly Dividend
PHOENIX--(BUSINESS WIRE)--The Board of Directors of Cable One, Inc. (NYSE: CABO) today declared a quarterly cash dividend of $2.95 per share. The dividend is payable on March 7, 2025 to stockholders of record at the close of business on February 18, 2025. About Cable One Cable One, Inc. (NYSE:CABO) is a leading broadband communications provider delivering exceptional service and enabling more than 1 million residential and business customers across 24 states to thrive and stay connected to what.
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Is Cable One (CABO) a Great Value Stock Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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Cable One Amends Mega Broadband Strategic Partnership
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (“Cable One”) announced today that it has amended the terms of its strategic investment in Mega Broadband Investments Holdings LLC (“MBI”) to provide enhanced timing flexibility for Cable One's potential acquisition of full ownership of MBI. Cable One currently owns a 45% stake in MBI, and affiliates of GTCR LLC (“GTCR”) and MBI management own the balance of MBI. The amendments provide Cable One with enhanced ability to control the timing f.
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Cable One: 15% Equity FCF Yield, Below Replacement Value, Inflecting Fundamentals
On a near 15% equity free cash flow yield, it seems well discounted in the CABO stock. Advantaged/less competitive rural network, cheaper to buy than compete with. MBI transaction, a bad deal but overly discounted.
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Cable One, Inc. (CABO) Q3 2024 Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Jordan Morkert - Vice President-Investor Relations Julia Laulis - Chair of the Board, President and CEO Todd Koetje - Chief Financial Officer Conference Call Participants Sebastiano Petti - J.P. Morgan Craig Moffett - MoffettNathanson Sam McHugh - BNP Paribas Greg Williams - TD Cowen Steven Cahall - Wells Fargo Operator Hello, and welcome to the Cable One, Inc. Q3 2024 Earnings Call.
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Cable One (CABO) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Although the revenue and EPS for Cable One (CABO) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
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Cable One (CABO) Lags Q3 Earnings Estimates
Cable One (CABO) came out with quarterly earnings of $7.92 per share, missing the Zacks Consensus Estimate of $9.93 per share. This compares to earnings of $10.78 per share a year ago.
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Insights Into Cable One (CABO) Q3: Wall Street Projections for Key Metrics
Get a deeper insight into the potential performance of Cable One (CABO) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
zacks.com
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Earnings Preview: Cable One (CABO) Q3 Earnings Expected to Decline
Cable One (CABO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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Anthony Mokry Joins Cable One as Senior Vice President, Residential Services
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today announced that Anthony Mokry has joined the Company as Senior Vice President, Residential Services. With more than 25 years of experience in the telecommunications industry, Mokry will lead the company's marketing initiatives, focusing on the strategy development, product innovation and management of its residential customer base to drive profitable growth with a customer-first approach. Before joining C.
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Cable One to Host Conference Call to Discuss Third Quarter 2024 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the third quarter on Thursday, November 7, 2024, at 5 p.m. Eastern Time (ET). Cable One will issue a press release reporting its results after market close on Thursday, November 7, 2024. The conference call will be available via a live audio webcast on the Cable One Investor Relations website at ir.cableone.net or by dialing 1-888-800-3155 (International: 1-646-.
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Should Value Investors Buy Cable One (CABO) Stock?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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3 Stocks to Watch From a Prospering Cable Television Industry
Zacks Cable Television industry participants like RCI, LBTYA and CABO are benefiting from growing demand for high-speed Internet and increased media consumption amid cord-cutting.
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3 Little-Known Hollywood Stocks You Should Buy
Macquarie analyst Tim Nollen recently stated that none of the top five Hollywood stocks were worth recommending.
247wallst.com
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Cable One, Inc. (CABO) Q2 2024 Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q2 2024 Results Conference Call August 1, 2024 5:00 PM ET Company Participants Jordan Morkert - Vice President-Investor Relations Julia Laulis - Chief Executive Officer Todd Koetje - Chief Financial Officer Conference Call Participants Greg Williams - TD Cowen Sebastiano Petti - JPMorgan Frank Louthan - Raymond James Kohulan Paramaguru - BNP Paribas Craig Moffett - MoffettNathanson Brandon Nispel - KeyBanc Capital Markets Operator Hello, and thank you for standing by. My name is Regina, and I will be your conference operator today.
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Compared to Estimates, Cable One (CABO) Q2 Earnings: A Look at Key Metrics
The headline numbers for Cable One (CABO) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
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Cable One (CABO) Q2 Earnings and Revenues Miss Estimates
Cable One (CABO) came out with quarterly earnings of $8.16 per share, missing the Zacks Consensus Estimate of $10.36 per share. This compares to earnings of $10.43 per share a year ago.
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Cable One Reports Second Quarter 2024 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter ended June 30, 2024. Three Months Ended June 30, (dollars in thousands) 2024 2023 $ Change % Change Revenues $ 394,461 $ 424,024 $ (29,563 ) (7.0 )% Net income $ 47,649 $ 55,246 $ (7,597 ) (13.8 )% Net profit margin 12.1 % 13.0 % Cash flows from operating activities $ 155,548 $ 169,564 $ (14.
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Earnings Preview: Cable One (CABO) Q2 Earnings Expected to Decline
Cable One (CABO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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Wall Street's Most Accurate Analysts Spotlight On 3 Tech And Telecom Stocks Delivering High-Dividend Yields
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.
benzinga.com
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Cable One, Inc. (CABO) Q1 2024 Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Jordan Morkert – Vice President-Investor Relations Julia Laulis – Chief Executive Officer Todd Koetje – Chief Financial Officer Conference Call Participants Sebastiano Petti – J.P. Morgan Brandon Nispel – KeyBanc Capital Markets Greg Williams – TD Cowen Frank Louthan – Raymond James Steven Cahall – Wells Fargo Kohulan Paramaguru – BNP Paribas Operator Hello, and thank you for standing by.
seekingalpha.com
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Cable One (CABO) Reports Q1 Earnings: What Key Metrics Have to Say
The headline numbers for Cable One (CABO) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
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Cable One (CABO) Misses Q1 Earnings and Revenue Estimates
Cable One (CABO) came out with quarterly earnings of $8.11 per share, missing the Zacks Consensus Estimate of $10.78 per share. This compares to earnings of $9.62 per share a year ago.
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Cable One Reports First Quarter 2024 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter ended March 31, 2024. Three Months Ended March 31, (dollars in thousands) 2024 2023 $ Change % Change Revenues $ 404,312 $ 421,894 $ (17,582 ) (4.2 )% Net income $ 47,342 $ 57,426 $ (10,084 ) (17.6 )% Net profit margin 11.7 % 13.6 % Cash flows from operating activities $ 164,750 $ 161,787 .
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Mega Broadband Investments Announces CEO Leadership Transition
Andy Parrott promoted to the role of MBI CEO Phil Spencer to continue to serve on the Board of Directors and as a Senior Advisor to MBI SHAWNEE, Okla. , April 29, 2024 /PRNewswire/ -- Mega Broadband Investments LLC ("MBI"), a leading provider of broadband services across the Southeast, Northwest, and Mid-South United States that goes to market under the Vyve Broadband brand ("Vyve"), today announced that Andy Parrott has been promoted to the role of CEO, effective May 1 st, 2024.
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Cable One to Host Conference Call to Discuss First Quarter 2024 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the first quarter on Thursday, May 2, 2024, at 5 p.m. Eastern Time (ET). Cable One will issue a press release reporting its results after market close on Thursday, May 2, 2024. The conference call will be available via a live audio webcast on the Cable One Investor Relations website at ir.cableone.net or by dialing 1-888-800-3155 (International: 1-646-307-1696).
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Duolingo Set to Join S&P MidCap 400; Cable One to Join S&P SmallCap 600
NEW YORK , April 17, 2024 /PRNewswire/ -- Duolingo Inc. (NASD:DUOL) will replace Cable One Inc. (NYSE:CABO) in the S&P MidCap 400, and Cable One will replace MDC Holdings Inc. (NYSE:MDC) in the S&P SmallCap 600 effective prior to the opening of trading Monday, April 22. Sekisui House Ltd.
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Wall Street's Whisper List: 3 Stocks Primed for Public Frenzy
If there's one thing I've learned about retail do-it-yourself investors, they love to hear about Wall Street whispers. These are upgrades or new coverage of stocks by analysts with a buy rating.
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Ken Johnson Appointed Cable One Chief Operating Officer
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today announced that Ken Johnson has been appointed Chief Operating Officer by its Board of Directors. Johnson, who previously served as the Company's Chief Technology & Innovation Officer, has more than 25 years of industry experience, having held executive leadership positions over technology and operations for companies of considerable size and complexity. Since joining Cable One in 2018 upon the Compan.
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Cable One, Inc. (CABO) Q4 2023 Earnings Call Transcript
Cable One, Inc. (CABO) Q4 2023 Earnings Call Transcript
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Cable One (CABO) Lags Q4 Earnings and Revenue Estimates
Cable One (CABO) came out with quarterly earnings of $10.66 per share, missing the Zacks Consensus Estimate of $12.86 per share. This compares to earnings of $8.94 per share a year ago.
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Cable One Reports Fourth Quarter and Full Year 2023 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter and year ended December 31, 2023. Three Months Ended December 31, (dollars in thousands) 2023 2022 $ Change % Change Revenues $ 411,815 $ 425,515 $ (13,700 ) (3.2 )% Net income (loss) $ 115,294 $ (77,210 ) $ 192,504 (249.3 )% Net profit margin 28.0 % (18.1 )% Cash flows from operating activities $ 151,669 $ 168,247 $ (16.
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Ahead of Cable One (CABO) Q4 Earnings: Get Ready With Wall Street Estimates for Key Metrics
Beyond analysts' top -and-bottom-line estimates for Cable One (CABO), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2023.
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Cable One (CABO) Earnings Expected to Grow: Should You Buy?
Cable One (CABO) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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Cable One to Host Conference Call to Discuss Fourth Quarter and Full Year 2023 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the fourth quarter and full year 2023 on Thursday, February 22, 2024, at 5 p.m. Eastern Time (ET). Cable One will issue a press release reporting its results after market close on Thursday, February 22, 2024. The conference call will be available via a live audio webcast on the Cable One Investor Relations website at ir.cableone.net or by dialing 1-888-800-3155.
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4 Stocks to Watch From a Challenging Cable Television Industry
Zacks Cable Television industry participants like CMCSA, RCI, LBTYA & CABO are benefiting from growing demand for high-speed Internet and increased media consumption amid cord-cutting.
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Cable One, Inc. (CABO) Q3 2023 Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Jordan Morkert - VP, IR Julia Laulis - Chairwoman, President & CEO Todd Koetje - CFO Conference Call Participants Brandon Nispel - KeyBanc Capital Markets Nikhil Aluru - JPMorgan Chase & Co. Gregory Williams - TD Cowen Steven Cahall - Wells Fargo Securities Craig Moffett - MoffettNathanson Frank Louthan - Raymond James & Associates Operator Thank you for standing by. My name is Eric, and I will be your conference operator today.
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Compared to Estimates, Cable One (CABO) Q3 Earnings: A Look at Key Metrics
Although the revenue and EPS for Cable One (CABO) give a sense of how its business performed in the quarter ended September 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
zacks.com
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Cable One Reports Third Quarter 2023 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter ended September 30, 2023. Three Months Ended September 30, (dollars in thousands) 2023 2022 $ Change % Change Revenues $ 420,348 $ 424,718 $ (4,370 ) (1.0 )% Net income $ 39,472 $ 70,607 $ (31,135 ) (44.1 )% Net profit margin 9.4 % 16.6 % Cash flows from operating activities $ 180,152 $ 216,708.
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Are Investors Undervaluing Cable One (CABO) Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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IMAX Q3 Earnings Beat, Revenues Rise Y/Y on Box Office Gain
IMAX's third-quarter 2023 results reflect growth in revenues and the global box office, driven by the impressive performance of blockbuster titles.
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Cable One to Host Conference Call to Discuss Third Quarter 2023 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the third quarter on Thursday, November 2, 2023, at 5 p.m. Eastern Time (ET). Cable One will issue a press release reporting its results after market close on Thursday, November 2, 2023. The conference call will be available via a live audio webcast on the Cable One Investor Relations website at ir.cableone.net or by dialing 1-888-330-2398 (International: 1-240-.
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Is Cable One (CABO) Stock Undervalued Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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Wall Street Analysts Think Cable One (CABO) Could Surge 34.84%: Read This Before Placing a Bet
The mean of analysts' price targets for Cable One (CABO) points to a 34.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
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5 Stocks to Watch on Their Recent Dividend Hikes
Investors may keep a tab on stocks like CABO, MUSA, DDS, VRTS and WGO, which have lately hiked their dividend payments.
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Cable One: Residential Data And Business Data Customers Imply Undervaluation
Cable One, Inc. continues to report quarterly adjusted EBITDA margin increases, focusing on higher margin products. The company's business model is centered around providing connectivity and entertainment solutions for residential and commercial customers. There are risks associated with the speed of introducing new technologies and the level of debt, but the company is currently undervalued.
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P. Robert Bartolo Joins Cable One Board of Directors
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today announced the election of P. Robert Bartolo to the Company's Board of Directors on August 18, 2023. His election increases the size of Cable One's Board to nine members. Bartolo currently serves as chair of the board of directors of Crown Castle Inc. (“Crown Castle”). Before joining Crown Castle's board, Bartolo served as Vice President of T. Rowe Price Group, Inc., as well as a portfolio manager in the.
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Cable One Announces Quarterly Dividend Increase
PHOENIX--(BUSINESS WIRE)--The Board of Directors of Cable One, Inc. (NYSE: CABO) today declared a quarterly cash dividend of $2.95 per share, an increase of $0.10 per share in the company's quarterly cash dividend. The dividend is payable on September 15, 2023 to stockholders of record at the close of business on August 29, 2023. About Cable One Cable One, Inc. (NYSE:CABO) is a leading broadband communications provider committed to connecting customers and communities to what matters most. Thro.
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Cable One, Inc. (CABO) Q2 2023 Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET Company Participants Jordan Morkert - Investor Relations Julie Laulis - President and Chief Executive Officer Todd Koetje - Chief Financial Officer Conference Call Participants Phil Cusick - JPMorgan Frank Louthan - Raymond James Greg Williams - TD Cowen Craig Moffett - MoffettNathanson Steven Cahall - Wells Fargo Brandon Nispel - KeyBanc Capital Markets Operator Good afternoon ladies and gentlemen. Thank you for standing by.
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Cable One (CABO) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
While the top- and bottom-line numbers for Cable One (CABO) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
zacks.com
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Cable One (CABO) Lags Q2 Earnings Estimates
Cable One (CABO) came out with quarterly earnings of $10.43 per share, missing the Zacks Consensus Estimate of $13.27 per share. This compares to earnings of $12.13 per share a year ago.
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Cable One Reports Second Quarter 2023 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter ended June 30, 2023. Three Months Ended June 30, (dollars in thousands) 2023 2022 $ Change % Change Revenues $ 424,024 $ 429,085 $ (5,061 ) (1.2 ) Net income $ 55,246 $ 69,245 $ (13,999 ) (20.2 ) Net profit margin 13.0 % 16.1 % Cash flows from operating activities $ 169,564 $ 164,365 .
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Cable One to Host Conference Call to Discuss Second Quarter 2023 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the second quarter on Thursday, August 3, 2023, at 5 p.m. Eastern Time (ET). Cable One will issue a press release reporting its results after market close on Thursday, August 3, 2023. The conference call will be available via a live audio webcast on the Cable One Investor Relations website at ir.cableone.net or by dialing 1-888-330-2398 (International: 1-240-789.
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Cable One Awards $125,000 to Community Nonprofit Organizations
PHOENIX , June 30, 2023 /PRNewswire/ -- Cable One ® recently awarded $125,000 in grants to nonprofit organizations in need across its 24-state footprint through the company's Charitable Giving Fund. The Charitable Giving Fund, which annually awards $250,000 in grants to 501(c)(3) nonprofit organizations in communities served by the Cable One family of brands (Sparklight®, Fidelity Communications, Hargray, ValuNet Fiber and CableAmerica), concentrates support in the following priority areas: Education and Digital Literacy Food Insecurity Community Development "We are committed to helping strengthen the cities and towns where we live and work by giving back to the organizations that do so much to support our communities," said Julie Laulis, Cable One President and CEO.
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Cable One® Teams with eero to Launch Advanced Whole-Home Connectivity Solution
PHOENIX , May 16, 2023 /PRNewswire/ -- Cable One ® , a leading broadband communications provider, today announced the launch of Wall-To-Wall WiFi, an advanced whole-home connectivity solution that provides fast, reliable and secure internet throughout the home. Teaming up with eero, an Amazon company, Cable One will offer the eero Pro6E to deliver comprehensive WiFi coverage throughout the home - regardless of size or shape, creating a wide-ranging signal that eliminates dead zones.
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Cable One, Inc. (CABO) Q1 2023 Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Jordan Morkert – Investor Relations Julie Laulis – President and Chief Executive Officer Todd Koetje – Chief Financial Officer Conference Call Participants Phil Cusick – JPMorgan Frank Louthan – Raymond James Greg Williams – TD Cowen Craig Moffett – MoffettNathanson Steven Cahall – Wells Fargo Brandon Nispel – KeyBanc Capital Markets Operator Good afternoon and thank you for attending today's Cable One First Quarter 2023 Earnings Call. My name is Jason, and I'll be the moderator for today's call.
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Cable One Reports First Quarter 2023 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter ended March 31, 2023. Three Months Ended March 31, (dollars in thousands) 2023 2022 $ Change % Change Revenues $ 421,894 $ 426,726 $ (4,832 ) (1.1 ) Net income $ 57,426 $ 171,476 $ (114,050 ) (66.5 ) Net profit margin 13.6 % 40.2 % Cash flows from operating activities $ 161,787 $ 188,719 $ (26,932 ) (14.3 ) Adjusted.
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Wall Street Analysts Believe Cable One (CABO) Could Rally 38.8%: Here's is How to Trade
The mean of analysts' price targets for Cable One (CABO) points to a 38.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
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Cable One to Host Conference Call to Discuss First Quarter 2023 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the first quarter on Thursday, May 4, 2023, at 5 p.m. Eastern Time (ET). Cable One will issue a press release reporting its results after market close on Thursday, May 4, 2023. The conference call will be available via a live audio webcast on the Cable One Investor Relations website at ir.cableone.
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Does Cable One (CABO) Have the Potential to Rally 37.44% as Wall Street Analysts Expect?
The mean of analysts' price targets for Cable One (CABO) points to a 37.4% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
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Cable One Named to Newsweek's 'America's Greatest Workplaces for Women 2023' List
PHOENIX , March 23, 2023 /PRNewswire/ -- Cable One ®, a leading broadband communications provider, was recently named by Newsweek and Plant-A Insights Group as one of America's Greatest Workplaces for Women 2023. This award recognizes workplaces that are most recommended by women and are leading the way in promoting equity.
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Cable One: Poor Growth Trajectory And Weak Fundamentals
CABO recently posted disappointing quarterly and annual results. The stock looks overvalued compared to industry standards.
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Cable One Named to Forbes 2023 America's Best Mid-Sized Employers List
PHOENIX , March 7, 2023 /PRNewswire/ -- Cable One ® , a leading broadband communications provider, has once again been named to Forbes America's Best Mid-Sized Employers List. This is the third consecutive year Forbes has recognized Cable One, whose family of brands includes Sparklight®, Fidelity Communications, Hargray, ValuNet Fiber and CableAmerica, as one of the top employers in the U.S. "Our associates are the heart and soul of our company, and we strive to create a work environment that reflects this," said Julie Laulis, Cable One President and CEO.
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Dividend Champion, Contender, And Challenger Highlights: Week Of March 5
A weekly summary of dividend activity for Dividend Champions, Contenders, and Challengers. Companies which changed their dividends.
seekingalpha.com
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Cable One (CABO) Loses -19.68% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner
Cable One (CABO) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
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Cable One (CABO) Loses -16.4% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner
Cable One (CABO) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
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Cable One, Inc. (CABO) Q4 2022 Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q4 2022 Earnings Conference Call February 23, 2023 5:00 PM ET Company Participants Jordan Morkert - Investor Relations Julie Laulis - Chairman, President and Chief Executive Officer Todd Koetje - Chief Financial Officer Conference Call Participants Gregory Williams - Cowen and Company, LLC Frank Louthan - Raymond James & Associates, Inc. Craig Moffett - MoffettNathanson SVB Securities Brandon Nispel - KeyBanc Capital Markets Inc. Steven Cahall - Wells Fargo Securities, LLC Operator Good afternoon. Thank you for attending today's Cable One Fourth Quarter and Full-Year 2022 Results Call.
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Cable One (CABO) Q4 Earnings Miss Estimates
Cable One (CABO) delivered earnings and revenue surprises of -28.82% and 0.63%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
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Cable One Reports Fourth Quarter and Full Year 2022 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter and year ended December 31, 2022. As previously disclosed, Cable One contributed certain fiber operations to Clearwave Fiber on January 1, 2022; divested certain other operations during the second quarter of 2022; and acquired certain operations during 2021.
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Dividend Champion, Contender, And Challenger Highlights: Week Of February 12
A weekly summary of dividend activity for Dividend Champions, Contenders, and Challengers. Companies which changed their dividends.
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Cable One to Host Conference Call to Discuss Fourth Quarter and Full Year Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the fourth quarter and full year 2022 on Thursday, February 23, 2023, at 5 p.m. Eastern Time (ET). Cable One will issue a press release reporting its results after market close on Thursday, February 23, 2023. The conference call will be available via a live audio webcast on the Cable One Investor Relations website at ir.cableone.
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Cable One Grants Holiday Wishes to Local Nonprofit Organizations with More than $110,000 in Charitable Grants
PHOENIX , Dec. 20, 2022 /PRNewswire/ -- Cable One ® awarded more than $110,000 in grants to nonprofit organizations in need this holiday season across its 24-state footprint through the company's Charitable Giving Fund. The Charitable Giving Fund, which annually awards nearly $250,000 in grants to local 501(c)(3) nonprofit organizations served by the Cable One family of brands (Sparklight®, Fidelity Communications, Hargray, ValuNet Fiber and CableAmerica), concentrates support in the following priority areas: Education and Digital Literacy Food Insecurity Community Development "We are committed to supporting non-profit organizations that have a meaningful impact in the cities and towns where we live and work," said Julie Laulis, Cable One President and CEO.
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Cable One: High Upside Potential
As a result of high debt and adverse economic conditions, the stock price has dropped significantly. Recently, the company has shifted its focus from residential video service to residential data and business services which have nine and eleven times greater EBITDA, respectively, than its previous segment.
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Cable One, Inc. (CABO) Q3 2022 Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q3 2022 Results Conference Call November 3, 2022 5:00 PM ET Company Participants Jordan Morkert - Investor Relations Julie Laulis - President and Chief Executive Officer Todd Koetje - Chief Financial Officer Conference Call Participants Greg Williams - Cowen Craig Moffett - MoffettNathanson SVB Securities Frank Louthan - Raymond James Brandon Nispel - KeyBanc Operator Good afternoon, ladies and gentlemen. Thank you for joining today's Cable One Third Quarter 2022 Earnings Call.
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Cable One Reports Third Quarter 2022 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter ended September 30, 2022. Third Quarter 2022 Highlights: Total revenues were $424.7 million in the third quarter of 2022 compared to $430.2 million in the third quarter of 2021. Year-over-year, residential data revenues increased 6.3% and business services revenues decreased 11.5%. Revenues for the third quarter of 2022 included $4.9 million from CableAmerica(1) operations. Revenues for the third quarter of 2021 included $16.3 million from operations that were contributed to Clearwave Fiber(1) and from the Divested Operations(1), of which a substantial majority consisted of business services revenues. Net income was $70.6 million in the third quarter of 2022, an increase of 35.1% year-over-year. Adjusted EBITDA(2) was $224.6 million in the third quarter of 2022, an increase of 1.9% year-over-year. Net profit margin was 16.6% and Adjusted EBITDA margin(2) was 52.9%. Net cash provided by operating activities was $216.7 million in the third quarter of 2022, an increase of 18.6% year-over-year. Adjusted EBITDA less capital expenditures(2) was $124.1 million in the third quarter of 2022, an increase of $24.5 million, or 24.6%, compared to the third quarter of 2021. Residential data primary service units (“PSUs”) grew by approximately 30,000, or 3.2%, year-over-year. Approximately 14,000 residential data PSUs were acquired in the CableAmerica acquisition and approximately 8,700 residential data PSUs were contributed to Clearwave Fiber. The Company repurchased 89,000 shares of its common stock at an aggregate cost of $115.3 million during the third quarter of 2022. Year-to-date capital returned to shareholders totaled $356.8 million, consisting of $49.8 million in dividends and $307.0 million in share repurchases. (1) Cable One acquired certain assets and assumed certain liabilities from Cable America Missouri, LLC, a data, video and voice services provider ("CableAmerica"), on December 30, 2021. Cable One contributed certain fiber operations to Clearwave Fiber LLC, a joint venture amongst Cable One and certain unaffiliated third-party investors ("Clearwave Fiber"), on January 1, 2022 (the "Clearwave Fiber Contribution"). During the second quarter of 2022, Cable One divested its Tallahassee, Florida system and certain other non-core assets (collectively, the "Divested Operations"). The results discussed and presented in the tables within this press release include CableAmerica operations for the period since the December 30, 2021 acquisition date and exclude the fiber operations contributed to Clearwave Fiber for the period since the January 1, 2022 contribution date and the Divested Operations from their respective divestiture dates. (2) Adjusted EBITDA, Adjusted EBITDA margin and Adjusted EBITDA less capital expenditures are defined in the section of this press release entitled “Use of Non-GAAP Financial Measures.” Adjusted EBITDA and Adjusted EBITDA less capital expenditures are reconciled to net income, Adjusted EBITDA margin is reconciled to net profit margin and Adjusted EBITDA less capital expenditures is also reconciled to net cash provided by operating activities. Refer to the “Reconciliations of Non-GAAP Measures” tables within this press release. Third Quarter 2022 Financial Results Compared to Third Quarter 2021 Revenues decreased $5.5 million, or 1.3%, to $424.7 million for the third quarter of 2022 due primarily to the contribution of operations to Clearwave Fiber and the disposition of the Divested Operations during 2022 that collectively generated $16.3 million of revenues in the prior year quarter, predominantly consisting of business services revenues, and decreases in residential video and residential voice revenues. The decrease was partially offset by increases in higher margin residential data and business services revenues from continuing operations and the addition of CableAmerica operations. Operating expenses (excluding depreciation and amortization) were $120.5 million in the third quarter of 2022 and decreased $1.2 million, or 1.0%, compared to the third quarter of 2021. The decrease in operating expenses was primarily attributable to $6.4 million of lower programming expenses as a result of video customer losses, partially offset by higher labor and other compensation-related costs, health insurance costs, fuel costs and property taxes. Operating expenses as a percentage of revenues were 28.4% and 28.3% for the third quarter of 2022 and 2021, respectively. Selling, general and administrative expenses were $86.0 million and $95.1 million for the third quarter of 2022 and 2021, respectively. The decrease in selling, general and administrative expenses was primarily attributable to decreases in labor and other compensation-related costs, marketing costs and maintenance costs, partially offset by higher software costs, health insurance costs and property taxes. Selling, general and administrative expenses as a percentage of revenues were 20.3% and 22.1% for the third quarter of 2022 and 2021, respectively. Depreciation and amortization expense was $87.2 million for the third quarter of 2022 and decreased $5.4 million, or 5.8%, compared to the third quarter of 2021. The decrease in depreciation and amortization expense was primarily due to lower expenses resulting from the Clearwave Fiber Contribution. Depreciation and amortization expense as a percentage of revenues was 20.5% and 21.5% for the third quarter of 2022 and 2021, respectively. Interest expense was $36.4 million for the third quarter of 2022 and increased $5.9 million, or 19.3%, compared to the third quarter of 2021. The increase was driven primarily by higher interest rates. Other income, net, was $0.8 million for the third quarter of 2022 and consisted primarily of interest and investment income, partially offset by a $2.8 million non-cash loss on fair value adjustment associated with the call and put options to acquire the remaining equity interests in Mega Broadband Investments Holdings LLC (the "MBI Net Option"). Other expense, net, was $22.8 million for the third quarter of 2021 and consisted primarily of a $25.6 million non-cash loss on fair value adjustment associated with the MBI Net Option, partially offset by interest and investment income. Income tax provision was $21.9 million for the third quarter of 2022 compared to $13.0 million for the third quarter of 2021. The Company’s effective tax rate was 23.7% and 20.3% for the third quarter of 2022 and 2021, respectively. Net income was $70.6 million in the third quarter of 2022 compared to $52.3 million in the prior year quarter. Adjusted EBITDA was $224.6 million and $220.5 million for the third quarter of 2022 and 2021, respectively, an increase of 1.9%. Capital expenditures for the third quarter of 2022 totaled $100.5 million compared to $120.9 million for the third quarter of 2021. Adjusted EBITDA less capital expenditures for the third quarter of 2022 was $124.1 million compared to $99.6 million in the prior year quarter, an increase of 24.6%. Liquidity and Capital Resources At September 30, 2022, the Company had $255.7 million of cash and cash equivalents on hand compared to $388.8 million at December 31, 2021. The Company’s debt balance was approximately $3.9 billion at both September 30, 2022 and December 31, 2021. The Company had $455.9 million available for borrowing under its revolving credit facility as of September 30, 2022. The Company paid $16.7 million in dividends to stockholders and repurchased 89,000 shares of its common stock at an aggregate cost of $115.3 million during the third quarter of 2022. Year-to-date, the Company has paid $49.8 million in dividends and repurchased 232,637 shares of its common stock at an aggregate cost of $307.0 million. The Company had $288.1 million of remaining share repurchase authorization as of September 30, 2022. Conference Call Cable One will host a conference call with the financial community to discuss results for the third quarter of 2022 on Thursday, November 3, 2022, at 5 p.m. Eastern Time (ET). The conference call will be available via an audio webcast on the Cable One Investor Relations website at ir.cableone.net or by dialing 1-844-200-6205 (International: 1-929-526-1599) and using the access code 998224. Participants should register for the webcast or dial in for the conference call shortly before 5 p.m. ET. A replay of the call will be available from November 3, 2022 until November 17, 2022 at ir.cableone.net. Additional Information Available on Website The information in this press release should be read in conjunction with the condensed consolidated financial statements and notes thereto contained in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2022, which will be posted on the “SEC Filings” section of the Cable One Investor Relations website at ir.cableone.net when it is filed with the Securities and Exchange Commission (the “SEC”). Investors and others interested in more information about Cable One should consult the Company’s website, which is regularly updated with financial and other important information about the Company. Use of Non-GAAP Financial Measures The Company uses certain measures that are not defined by generally accepted accounting principles in the United States (“GAAP”) to evaluate various aspects of its business. Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA less capital expenditures and capital expenditures as a percentage of Adjusted EBITDA are non-GAAP financial measures and should be considered in addition to, not as superior to, or as a substitute for, net income, net profit margin, net cash provided by operating activities or capital expenditures as a percentage of net income reported in accordance with GAAP. Adjusted EBITDA and Adjusted EBITDA less capital expenditures are reconciled to net income, Adjusted EBITDA margin is reconciled to net profit margin and capital expenditures as a percentage of Adjusted EBITDA is reconciled to capital expenditures as a percentage of net income. Adjusted EBITDA less capital expenditures is also reconciled to net cash provided by operating activities. These reconciliations are included in the “Reconciliations of Non-GAAP Measures” tables within this press release. “Adjusted EBITDA” is defined as net income plus interest expense, income tax provision (benefit), depreciation and amortization, equity-based compensation, (gain) loss on deferred compensation, acquisition-related costs, (gain) loss on asset sales and disposals, system conversion costs, equity method investment (income) loss, other (income) expense and other unusual items, as provided in the “Reconciliations of Non-GAAP Measures” tables within this press release. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of the Company’s business as well as other non-cash or special items and is unaffected by the Company’s capital structure or investment activities. This measure is limited in that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues and the Company’s cash cost of debt financing. These costs are evaluated through other financial measures. “Adjusted EBITDA margin” is defined as Adjusted EBITDA divided by total revenues. “Adjusted EBITDA less capital expenditures,” when used as a liquidity measure, is calculated as net cash provided by operating activities excluding the impact of capital expenditures, interest expense, income tax provision (benefit), changes in operating assets and liabilities, change in deferred income taxes and other unusual items, as provided in the “Reconciliations of Non-GAAP Measures” tables within this press release. “Capital expenditures as a percentage of Adjusted EBITDA” is defined as capital expenditures divided by Adjusted EBITDA. The Company uses Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA less capital expenditures and capital expenditures as a percentage of Adjusted EBITDA to assess its performance, and it also uses Adjusted EBITDA less capital expenditures as an indicator of its ability to fund operations and make additional investments with internally generated funds. In addition, Adjusted EBITDA generally correlates to the measure used in the leverage ratio calculations under the Company’s credit agreement and the indenture governing the Company’s non-convertible senior unsecured notes to determine compliance with the covenants contained in the credit agreement and the ability to take certain actions under the indenture governing the non-convertible senior unsecured notes. Adjusted EBITDA and capital expenditures as a percentage of Adjusted EBITDA are also significant performance measures used by the Company in its incentive compensation programs. Adjusted EBITDA does not take into account cash used for mandatory debt service requirements or other non-discretionary expenditures, and thus does not represent residual funds available for discretionary uses. The Company believes that Adjusted EBITDA, Adjusted EBITDA margin and capital expenditures as a percentage of Adjusted EBITDA are useful to investors in evaluating the operating performance of the Company. The Company believes that Adjusted EBITDA less capital expenditures is useful to investors as it shows the Company’s performance while taking into account cash outflows for capital expenditures and is one of several indicators of the Company’s ability to service debt, make investments and/or return capital to its stockholders. Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA less capital expenditures, capital expenditures as a percentage of Adjusted EBITDA and similar measures with similar titles are common measures used by investors, analysts and peers to compare performance in the Company’s industry, although the Company’s measures of Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA less capital expenditures and capital expenditures as a percentage of Adjusted EBITDA may not be directly comparable to similarly titled measures reported by other companies. About Cable One Cable One, Inc. (NYSE:CABO) is a leading broadband communications provider committed to connecting customers and communities to what matters most. Through Sparklight® and the associated Cable One family of brands, the Company serves more than 1.1 million residential and business customers in 24 states as of September 30, 2022. Over its fiber-optic infrastructure, the Cable One family of brands provide residential customers with a wide array of connectivity and entertainment services, including Gigabit speeds, advanced WiFi and video. For businesses ranging from small and mid-market up to enterprise, wholesale and carrier, the Company offers scalable, cost-effective solutions that enable businesses of all sizes to grow, compete and succeed. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This communication may contain “forward-looking statements” that involve risks and uncertainties. These statements can be identified by the fact that they do not relate strictly to historical or current facts, but rather are based on current expectations, estimates, assumptions and projections about the Company’s industry, business, strategy, acquisitions and strategic investments, dividend policy, financial results and financial condition. Forward-looking statements often include words such as “will,” “should,” “anticipates,” “estimates,” “expects,” “projects,” “intends,” “plans,” “believes” and words and terms of similar substance in connection with discussions of future operating or financial performance. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. The Company’s actual results may vary materially from those expressed or implied in its forward-looking statements. Accordingly, undue reliance should not be placed on any forward-looking statement made by the Company or on its behalf. Important factors that could cause the Company’s actual results to differ materially from those in its forward-looking statements include government regulation, economic, strategic, political and social conditions and the following factors, which are discussed in the Company’s latest Annual Report on Form 10-K as filed with the SEC: the duration and severity of the COVID-19 pandemic and its effects on the Company’s business, financial condition, results of operations and cash flows; rising levels of competition from historical and new entrants in the Company’s markets; recent and future changes in technology; the Company’s ability to continue to grow its business services products; increases in programming costs and retransmission fees; the Company’s ability to obtain hardware, software and operational support from vendors; risks that the Company may fail to realize the benefits anticipated as a result of the Hargray acquisition; risks relating to existing or future acquisitions and strategic investments by the Company; risks that the implementation of the Company’s new enterprise resource planning system disrupts business operations; the integrity and security of the Company’s network and information systems; the impact of possible security breaches and other disruptions, including cyber-attacks; the Company’s failure to obtain necessary intellectual and proprietary rights to operate its business and the risk of intellectual property claims and litigation against the Company; legislative or regulatory efforts to impose network neutrality and other new requirements on the Company’s data services; additional regulation of the Company’s video and voice services; the Company’s ability to renew cable system franchises; increases in pole attachment costs; changes in local governmental franchising authority and broadcast carriage regulations; the potential adverse effect of the Company’s level of indebtedness on its business, financial condition or results of operations and cash flows; the restrictions the terms of the Company’s indebtedness place on its business and corporate actions; the possibility that interest rates will continue to rise, causing the Company’s obligations to service its variable rate indebtedness to increase significantly; the transition away from the London Interbank Offered Rate and the adoption of alternative reference rates; risks associated with the Company’s convertible indebtedness; the Company’s ability to continue to pay dividends; provisions in the Company’s charter, by-laws and Delaware law that could discourage takeovers and limit the judicial forum for certain disputes; adverse economic conditions, labor shortages, supply chain disruptions and changes in rates of inflation; lower demand for the Company's residential data and business services; fluctuations in the Company’s stock price; dilution from equity awards, convertible indebtedness and potential future convertible debt and stock issuances; damage to the Company’s reputation or brand image; the Company’s ability to retain key employees; the Company’s ability to incur future indebtedness; provisions in the Company’s charter that could limit the liabilities for directors; and the other risks and uncertainties detailed from time to time in the Company’s filings with the SEC, including but not limited to those described under "Risk Factors" in its latest Annual Report on Form 10-K as filed with the SEC. Any forward-looking statements made by the Company in this communication speak only as of the date on which they are made. The Company is under no obligation, and expressly disclaims any obligation, except as required by law, to update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise. CABLE ONE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) Three Months Ended September 30, (dollars in thousands, except per share data) 2022 2021 Change % Change Revenues: Residential data $ 233,834 $ 219,942 $ 13,892 6.3 % Residential video 80,525 89,507 (8,982 ) (10.0 )% Residential voice 10,494 12,645 (2,151 ) (17.0 )% Business services 75,847 85,728 (9,881 ) (11.5 )% Other 24,018 22,415 1,603 7.2 % Total Revenues 424,718 430,237 (5,519 ) (1.3 )% Costs and Expenses: Operating (excluding depreciation and amortization) 120,487 121,657 (1,170 ) (1.0 )% Selling, general and administrative 86,018 95,103 (9,085 ) (9.6 )% Depreciation and amortization 87,222 92,600 (5,378 ) (5.8 )% (Gain) loss on asset sales and disposals, net 2,952 3,376 (424 ) (12.6 )% Total Costs and Expenses 296,679 312,736 (16,057 ) (5.1 )% Income from operations 128,039 117,501 10,538 9.0 % Interest expense (36,389 ) (30,495 ) (5,894 ) 19.3 % Other income (expense), net 834 (22,833 ) 23,667 (103.7 )% Income before income taxes and equity method investment income (loss), net 92,484 64,173 28,311 44.1 % Income tax provision 21,891 13,029 8,862 68.0 % Income before equity method investment income (loss), net 70,593 51,144 19,449 38.0 % Equity method investment income (loss), net 14 1,111 (1,097 ) (98.7 )% Net income $ 70,607 $ 52,255 $ 18,352 35.1 % Net Income per Common Share: Basic $ 12.10 $ 8.68 $ 3.42 39.4 % Diluted $ 11.53 $ 8.33 $ 3.20 38.4 % Weighted Average Common Shares Outstanding: Basic 5,836,731 6,019,517 (182,786 ) (3.0 )% Diluted 6,261,257 6,460,875 (199,618 ) (3.1 )% Unrealized gain on cash flow hedges and other, net of tax $ 47,251 $ 9,506 $ 37,745 NM Comprehensive income $ 117,858 $ 61,761 $ 56,097 90.8 % NM = Not meaningful. CABLE ONE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (dollars in thousands, except par values) September 30, 2022 December 31, 2021 Assets Current Assets: Cash and cash equivalents $ 255,719 $ 388,802 Accounts receivable, net 61,468 56,253 Income taxes receivable 3,139 24,193 Prepaid and other current assets 61,249 31,705 Total Current Assets 381,575 500,953 Equity investments 1,185,936 727,565 Property, plant and equipment, net 1,659,769 1,854,104 Intangible assets, net 2,688,114 2,861,137 Goodwill 928,947 967,913 Other noncurrent assets 87,911 42,322 Total Assets $ 6,932,252 $ 6,953,994 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable and accrued liabilities $ 193,497 $ 203,387 Deferred revenue 23,611 26,851 Current portion of long-term debt 51,659 38,837 Total Current Liabilities 268,767 269,075 Long-term debt 3,767,677 3,799,500 Deferred income taxes 933,653 854,156 Interest rate swap liability - 81,627 Other noncurrent liabilities 65,023 156,541 Total Liabilities 5,035,120 5,160,899 Stockholders' Equity Preferred stock ($0.01 par value; 4,000,000 shares authorized; none issued or outstanding) - - Common stock ($0.01 par value; 40,000,000 shares authorized; 6,175,399 shares issued; and 5,827,960 and 6,046,362 shares outstanding as of September 30, 2022 and December 31, 2021, respectively) 62 62 Additional paid-in capital 572,656 555,640 Retained earnings 1,718,120 1,456,543 Accumulated other comprehensive income (loss) 54,506 (82,795 ) Treasury stock, at cost (347,439 and 129,037 shares held as of September 30, 2022 and December 31, 2021, respectively) (448,212 ) (136,355 ) Total Stockholders' Equity 1,897,132 1,793,095 Total Liabilities and Stockholders' Equity $ 6,932,252 $ 6,953,994 CABLE ONE, INC. RECONCILIATIONS OF NON-GAAP MEASURES (Unaudited) Three Months Ended September 30, (dollars in thousands) 2022 2021 Change % Change Net income $ 70,607 $ 52,255 $ 18,352 35.1 % Net profit margin 16.6 % 12.1 % Plus: Interest expense 36,389 30,495 5,894 19.3 % Income tax provision 21,891 13,029 8,862 68.0 % Depreciation and amortization 87,222 92,600 (5,378 ) (5.8 )% Equity-based compensation 5,860 5,428 432 8.0 % (Gain) loss on deferred compensation (45 ) - (45 ) NM Acquisition-related costs 281 762 (481 ) (63.1 )% (Gain) loss on asset sales and disposals, net 2,952 3,376 (424 ) (12.6 )% System conversion costs 311 797 (486 ) (61.0 )% Equity method investment (income) loss, net (14 ) (1,111 ) 1,097 (98.7 )% Other (income) expense, net (834 ) 22,833 (23,667 ) (103.7 )% Adjusted EBITDA $ 224,620 $ 220,464 $ 4,156 1.9 % Adjusted EBITDA margin 52.9 % 51.2 % Less: Capital expenditures $ 100,515 $ 120,859 $ (20,344 ) (16.8 )% Capital expenditures as a percentage of net income 142.4 % 231.3 % Capital expenditures as a percentage of Adjusted EBITDA 44.7 % 54.8 % Adjusted EBITDA less capital expenditures $ 124,105 $ 99,605 $ 24,500 24.6 % NM = Not meaningful. Three Months Ended September 30, (dollars in thousands) 2022 2021 Change % Change Net cash provided by operating activities $ 216,708 $ 182,662 $ 34,046 18.6 % Capital expenditures (100,515 ) (120,859 ) 20,344 (16.8 )% Interest expense 36,389 30,495 5,894 19.3 % Non-cash interest expense (2,354 ) (2,423 ) 69 (2.8 )% Income tax provision (benefit) 21,891 13,029 8,862 68.0 % Changes in operating assets and liabilities (42,133 ) 10,489 (52,622 ) NM Change in deferred income taxes (2,890 ) (12,580 ) 9,690 (77.0 )% (Gain) loss on deferred compensation (45 ) - (45 ) NM Acquisition-related costs 281 762 (481 ) (63.1 )% System conversion costs 311 797 (486 ) (61.0 )% Fair value adjustments (2,704 ) (25,600 ) 22,896 (89.4 )% Other (income) expense, net (834 ) 22,833 (23,667 ) (103.7 )% Adjusted EBITDA less capital expenditures $ 124,105 $ 99,605 $ 24,500 24.6 % NM = Not meaningful. CABLE ONE, INC. OPERATING STATISTICS (Unaudited) As of September 30, Change (in thousands, except percentages and ARPU data) 2022 2021 Amount % Homes Passed 2,694 2,654 39 1.5 % Residential Customers 1,020 1,041 (21 ) (2.0 )% Data PSUs 965 935 30 3.2 % Video PSUs 190 265 (75 ) (28.2 )% Voice PSUs 95 107 (12 ) (11.6 )% Total residential PSUs 1,251 1,308 (57 ) (4.4 )% Business Customers 102 104 (2 ) (1.6 )% Data PSUs 96 95 1 1.1 % Video PSUs 12 14 (2 ) (15.9 )% Voice PSUs 41 44 (3 ) (6.2 )% Total business services PSUs 149 153 (4 ) (2.5 )% Total Customers 1,122 1,144 (22 ) (1.9 )% Total non-video 917 869 48 5.5 % Percent of total 81.7 % 75.9 % 5.8 % Data PSUs 1,062 1,030 31 3.0 % Video PSUs 202 279 (77 ) (27.6 )% Voice PSUs 136 151 (15 ) (10.0 )% Total PSUs 1,400 1,461 (61 ) (4.2 )% Penetration Data 39.4 % 38.8 % 0.6 % Video 7.5 % 10.5 % (3.0 )% Voice 5.0 % 5.7 % (0.6 )% Share of Third Quarter Revenues Residential data 55.1 % 51.1 % 3.9 % Business services 17.9 % 19.9 % (2.1 )% Total 72.9 % 71.0 % 1.9 % ARPU - Third Quarter Residential data(1) $ 80.46 $ 78.53 $ 1.93 2.5 % Residential video(1) $ 134.47 $ 110.74 $ 23.73 21.4 % Residential voice(1) $ 36.08 $ 38.72 $ (2.64 ) (6.8 )% Business services(2),(3) $ 248.19 $ 277.27 $ (29.08 ) (10.5 )% Note: All totals, percentages and year-over-year changes are calculated using exact numbers. Minor differences may exist due to rounding. (1) Average monthly revenue per unit (“ARPU”) values represent the applicable quarterly residential service revenues (excluding installation and activation fees) divided by the corresponding average of the number of PSUs at the beginning and end of each period, divided by three, except that for any PSUs added or subtracted as a result of an acquisition or divestiture occurring during the period, the associated ARPU values represent the applicable residential service revenues (excluding installation and activation fees) divided by the pro-rated average number of PSUs during such period. (2) ARPU values represent quarterly business services revenues divided by the average of the number of business customer relationships at the beginning and end of each period, divided by three, except that for any business customer relationships added or subtracted as a result of an acquisition or divestiture occurring during the period, the associated ARPU values represent business services revenues divided by the pro-rated average number of business customer relationships during such period. (3) The decrease in business services ARPU was due primarily to a disproportionately large number of higher ARPU enterprise customers being divested in the Clearwave Fiber Contribution.
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Cable One to Host Conference Call to Discuss Third Quarter 2022 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the third quarter on Thursday, November 3, 2022 at 5 p.m.
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Cable One stock downgraded as Wells Fargo sees various pressures on cable industry
Wells Fargo analyst Steven Cahall downgraded shares of Cable One Inc. CABO, +2.10% to equal-weight from overweight Monday, warning of the spending trajectory ahead for the broader cable universe. "While we think CABO has the strongest/best network-nearly 70% fiber by mileage-it's also well known that incremental competition is coming to all areas, including rural," Cahall wrote.
marketwatch.com
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5 Stocks With Recent Dividend Hike for a Stable Portfolio
Investors should remain cautious and stay invested in dividend-paying stocks to safeguard their portfolios. These are: LRCX, INTU, CABO, LYB and UCBI.
zacks.com
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Stock Splits: 7 Companies That Should Follow Tesla's Lead
The best known of the upcoming stock splits is Tesla (NASDAQ: TSLA ). It will split its stock today, Aug. 24, after the close of trading.
investorplace.com
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Cable One, Inc.'s (CABO) CEO Julie Laulis on Q2 2022 Results - Earnings Call Transcript
Cable One, Inc. (NYSE:CABO ) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Jordan Morkert – Investor Relations Julie Laulis – President and Chief Executive Officer Todd Koetje – Chief Financial Officer Conference Call Participants Dan Osley – Wells Fargo Craig Moffett – MoffettNathanson Frank Louthan – Raymond James Brandon Nispel – KeyBanc Capital Bank Operator Good afternoon, ladies and gentlemen. Thank you for attending today's Cable One Second Quarter 2022 Earnings Call.
seekingalpha.com
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Cable One (CABO) Q2 Earnings and Revenues Lag Estimates
Cable One (CABO) delivered earnings and revenue surprises of -9.55% and 0.55%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
zacks.com
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Cable One Reports Second Quarter 2022 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable One”) today reported financial and operating results for the quarter ended June 30, 2022. Cable One acquired the remaining equity interests that it did not already own in Hargray Communications, a data, video and voice services provider ("Hargray"), on May 3, 2021 and acquired certain assets and assumed certain liabilities from Cable America Missouri, LLC, a data, video and voice services provider ("CableAmerica"),
businesswire.com
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Cable One to Host Conference Call to Discuss Second Quarter 2022 Results
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the second quarter on Thursday, August 4, 2022 at 5 p.m. Eastern Time (ET). Cable One will issue a press release reporting its results after market close on Thursday, August 4, 2022. The conference call will be available via a live audio webcast on the Cable One Investor Relations website at ir.cableone.net or by dialing 1-844-200-6205 (International: 1-929-526-1599) and using access code 847214. Participants should register for the webcast or dial in for the conference call shortly before 5 p.m. ET. A replay of the call will be available from August 4, 2022 until August 18, 2022 at ir.cableone.net. To automatically receive Cable One financial news by email, please visit the Cable One Investor Relations website and subscribe to Email Alerts. About Cable One Cable One, Inc. (NYSE:CABO) is a leading broadband communications provider committed to connecting customers and communities to what matters most. Through Sparklight® and the associated Cable One family of brands, the Company serves more than 1.1 million residential and business customers in 24 states. Over its fiber-optic infrastructure, the Cable One family of brands provide residential customers with a wide array of connectivity and entertainment services, including Gigabit speeds, advanced WiFi and video. For businesses ranging from small and mid-market up to enterprise, wholesale and carrier, the Company offers scalable, cost-effective solutions that enable businesses of all sizes to grow, compete and succeed.
businesswire.com
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Cable One Named Corporate Social Responsibility Operator of the Year
PHOENIX , July 21, 2022 /PRNewswire/ -- The Cable One ® family of brands (Sparklight, Fidelity, ValuNet, Hargray and CableAmerica) was recently named Corporate Social Responsibility Operator of the Year by Cablefax Magazine for its commitment to advancing education, strengthening communities and improving lives across the company's 24-state footprint. Efforts highlighted by Cablefax include the internet service provider's Charitable Giving Fund, which annually awards $250,000 in grants, concentrating support in the areas of education and digital literacy, hunger relief and community development; Cable One's Chromebooks for Kids initiative, through which the company has donated nearly 3,0000 Chromebooks to Title I schools since 2014; partnerships with the Arbor Day Foundation and Keep America Beautiful; and most importantly, the thousands of hours Cable One family of brand associates spend each year volunteering their time and talents with non-profit organizations in the communities they serve.
prnewswire.com
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