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Mar 31, 2023
Altice USA Q1 2023 Earnings Report
Altice USA reported a decrease in total revenue and net income, but Fiber broadband net additions increased.
Key Takeaways
Altice USA's Q1 2023 results showed a decline in total revenue by 5.3% year-over-year to $2.29 billion. Net income attributable to stockholders decreased to $25.9 million, or $0.06 per share. However, the company saw significant progress in its fiber initiatives, with the best-ever fiber net additions, reaching 210k fiber customers.
Total revenue decreased by 5.3% year-over-year to $2.29 billion.
Net income attributable to stockholders was $25.9 million, a decrease from $196.6 million in the previous year.
Fiber broadband net additions were strong, with 38k additions, reaching a total of 210k fiber customers.
Optimum Mobile has approximately 248k mobile lines as of March 31, 2023.
Revenue by Segment
Forward Guidance
The company expects to continue to focus its investments in key growth initiatives including the FTTH rollout and new build expansion, with anticipated cash capex of approximately $1.7 billion to $1.8 billion in FY 2023.
Positive Outlook
- Focus on FTTH rollout and new build expansion.
- Targeting 100% of East fiber footprint in 2H-23 for 8 Gig Optimum Fiber internet service.
- Strong momentum in growing customer penetration in new-build areas, typically reaching approximately 40% within a year of rollout.
- The Company remains on track to reach 150k+ passings for the full year.
- The company introduced Optimum 5 Gbps (5 Gig) and 2 Gbps (2 Gig) Fiber Internet.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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