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Jun 30, 2020
Altice USA Q2 2020 Earnings Report
Altice USA reported Q2 2020 results, with revenue, net income and Adjusted EBITDA increasing year-over-year.
Key Takeaways
Altice USA reported a positive second quarter, marked by best-ever customer net additions driven by organic broadband growth. The company saw growth in revenue, net income, and Adjusted EBITDA year-over-year. They are reinstating guidance for full-year revenue and EBITDA growth.
Total Revenue grew +1.0% YoY to $2.47 billion, driven by Broadband revenue growth of +14.2% YoY.
Net income attributable to stockholders was $111 million for Q2 2020, or $0.19/share.
Adjusted EBITDA increased +2.5% YoY to $1.11 billion with a margin of 44.7%.
Free Cash Flow of $707 million in Q2 2020 increased +49.8% YoY.
Revenue by Segment
Forward Guidance
Altice USA is reinstating revenue and Adjusted EBITDA guidance given increased visibility into 2H 2020.
Positive Outlook
- Revenue (ex-mobile): Growth
- Adjusted EBITDA: Growth
- Capital expenditures: Less than $1.3 billion
- Year-end leverage target (ex Lightpath): 4.5x to 5.0x net debt / Adjusted EBITDA (L2QA basis)
- Share repurchase: $1.7 billion
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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