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Sep 30, 2020
Altice USA Q3 2020 Earnings Report
Reported flat revenue growth year-over-year, driven by broadband revenue growth and resilience in Business Services and News and Advertising businesses.
Key Takeaways
Altice USA reported flat revenue growth in Q3 2020, with a net loss attributable to stockholders. However, the company saw growth in Adjusted EBITDA and Free Cash Flow, driven by strong subscriber and financial performance.
Total Revenue was flat at -0.2% YoY in Q3 2020 at $2.43 billion.
Net loss attributable to stockholders was -$4.7 million Q3 2020, or ($0.01)/share.
Adjusted EBITDA increased +5.5% YoY in Q3 2020 to $1.13 billion with a margin of 46.3%.
Free Cash Flow of $457.5 million in Q3 2020 increased +176.1% YoY.
Revenue by Segment
Forward Guidance
The Company reiterates its revenue, Adjusted EBITDA, capex and leverage guidance for the full year. For the full year 2020, the Company expects revenue (ex-mobile) and Adjusted EBITDA growth.
Positive Outlook
- Revenue (ex-mobile): Growth
- Adjusted EBITDA: Growth
Challenges Ahead
- Capital expenditures: Less than $1.3 billion
- Year-end leverage target (CSC Holdings, LLC): 4.5x to 5.0x net debt / Adjusted EBITDA (L2QA basis)
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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