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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
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.