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Mar 31, 2022
WideOpenWest Q1 2022 Earnings Report
WideOpenWest's first quarter results for 2022 were announced, highlighting growth in high-speed data revenue and improved pro forma adjusted EBITDA margins.
Key Takeaways
WideOpenWest (WOW!) reported its Q1 2022 results, showcasing a 4% increase in high-speed data revenue, reaching $100.1 million, and a pro forma adjusted EBITDA increase of 8% to $66.4 million. The company's pro forma adjusted EBITDA margin improved to 38.0%.
Total Revenue from continuing operations was $174.6 million, a decrease of 4% compared to Q1 2021.
High-Speed Data (HSD) Revenue from continuing operations totaled $100.1 million, a 4% increase year-over-year.
Net Income from continuing operations was $5.7 million for the quarter.
Pro Forma Adjusted EBITDA was $66.4 million, up 8% compared to the first quarter of 2021.
WideOpenWest
WideOpenWest
WideOpenWest Revenue by Segment
Revenue by Segment
Other Revenue
CapyFin.com Forward Guidance
WOW! provided guidance for Q2 2022 and full year 2022.
Positive Outlook
- HSD Revenue for Q2 2022 is expected to be between $104.0 - $107.0 million.
- Total Revenue for Q2 2022 is projected to be $177.0 - $180.0 million.
- Adjusted EBITDA for Q2 2022 is anticipated to be $68.0 - $71.0 million.
- HSD Revenue for the full year 2022 is guided to be $427.0 - $430.0 million.
- Total Revenue for the full year 2022 is expected to be $708.0 - $711.0 million.
Challenges Ahead
- Adjusted EBITDA for the full year 2022 is expected to be $281.0 - $284.0 million.
- HSD net additions for Q2 2022 are projected to be 1,000 - 2,000.
- HSD net additions for the full year 2022 are expected to be 14,000 - 17,000.
- Capital Expenditures from continuing operations totaled $42.1 million.
- Total outstanding amount of long-term debt and finance lease obligations was $740.3 million.