Loading...
•
Jun 30, 2020
Cable One Q2 2020 Earnings Report
Reported financial results, showing revenue increase and net income growth.
Key Takeaways
Cable One reported a 14.9% increase in total revenues, driven by residential data and business services growth. Net income increased by 71.8% year-over-year. The company's performance was impacted by the COVID-19 pandemic, with both negative and positive effects on revenue and expenses.
Total revenues increased by 14.9% compared to the second quarter of 2019.
Net income increased by 71.8% year-over-year.
Residential data PSUs grew by over 145,000, or 23.7%, year-over-year.
Completed a public offering of common stock, receiving net proceeds of $469.8 million.
Revenue by Segment
Forward Guidance
The company expects the negative impacts associated with the actions it took in response to the pandemic to continue into the third quarter of 2020, due primarily to reduced data overage fees, late charges and reconnect fees during the early part of the third quarter and elevated labor costs throughout the third quarter.
Positive Outlook
- Increase in residential data revenues associated with the significant number of residential data customers acquired during the second quarter of 2020 is anticipated to partially offset these reduced revenues and additional costs.
Challenges Ahead
- Reduced data overage fees
- Late charges
- Reconnect fees during the early part of the third quarter
- Elevated labor costs throughout the third quarter
- Various uncertainties related to the impact of the COVID-19 pandemic on the overall economy and the Company’s business
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...