Industry Overview - The Zacks Cable Television industry is adapting to challenges from cord-cutting by focusing on bundled offerings and on-demand programming to remain relevant in the evolving media landscape [1] - Companies are leveraging their broadband infrastructure to meet changing consumer preferences while balancing traditional cable services with new streaming options [1][2] - The industry is capital-intensive and heavily regulated, requiring ongoing investment in technology and infrastructure to maintain competitiveness [2] Trends Impacting the Industry - The shift towards skinny bundles and original content is driving growth, as cable companies adapt their business models to meet consumer preferences for digital and subscription services [3] - High-speed internet demand is a key catalyst for growth, with increasing internet speeds fueling demand for high-quality video and binge viewing [4] - The traditional pay-TV industry is maturing, facing challenges from rising programming costs and the proliferation of streaming services [5] Advertising and Market Performance - Softness in advertising demand due to inflation and higher interest rates is impacting business growth, as marketers shift focus to digital mediums for better measurement and personalization [6] - The Zacks Cable Television industry has underperformed compared to the broader Zacks Consumer Discretionary sector and the S&P 500, declining 8.7% over the past year [10] Valuation and Earnings Outlook - The industry is currently trading at an EV/EBITDA of 7.06X, significantly lower than the S&P 500's 19.28X, indicating potential undervaluation [11] - Analysts show optimism regarding the earnings growth potential of the industry, as indicated by positive earnings outlooks for constituent companies [9] Company Highlights - Rogers Communication is benefiting from mobile phone and internet subscriber additions, with significant investments planned for 5G infrastructure [12] - Liberty Global is capitalizing on increasing internet speed demand and the acquisition of Sunrise Communications, which is expected to drive revenue growth [15] - Cable One is experiencing strong demand for broadband offerings, with a significant portion of its sales coming from high-speed tiers [18]

Cable One, Inc. (NYSE:CABO) Q2 2024 Results Conference Call August 1, 2024 5:00 PM ET Company Participants Jordan Morkert - Vice President-Investor Relations Julia Laulis - Chief Executive Officer Todd Koetje - Chief Financial Officer Conference Call Participants Greg Williams - TD Cowen Sebastiano Petti - JPMorgan Frank Louthan - Raymond James Kohulan Paramaguru - BNP Paribas Craig Moffett - MoffettNathanson Brandon Nispel - KeyBanc Capital Markets Operator Hello, and thank you for standing by. My name is ...

For the quarter ended June 2024, Cable One (CABO) reported revenue of $394.46 million, down 7% over the same period last year. EPS came in at $8.16, compared to $10.43 in the year-ago quarter. The reported revenue represents a surprise of -1.69% over the Zacks Consensus Estimate of $401.23 million. With the consensus EPS estimate being $10.36, the EPS surprise was -21.24%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Cable One (CABO) came out with quarterly earnings of $8.16 per share, missing the Zacks Consensus Estimate of $10.36 per share. This compares to earnings of $10.43 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -21.24%. A quarter ago, it was expected that this telecommunications company would post earnings of $10.78 per share when it actually produced earnings of $8.11, delivering a surprise of -24.77%. Over the last four qu ...

Revenue Performance - For the first six months of 2024, total revenues decreased by 7.0% to $394.461 million compared to $424.024 million in 2023[111] - Total revenues for the three months ended June 30, 2024, were $394.5 million, a decrease of $29.6 million or 7.0% compared to $424.0 million for the same period in 2023[120] - Total revenues for the six months ended June 30, 2024, were $798.8 million, a decrease of $47.1 million or 5.6% compared to $845.9 million for the same period in 2023[129] Customer Metrics - Approximately 1,063,000 customers subscribed to data services, with a significant focus on growing higher-margin residential and business data services[98][100] - Total residential PSUs decreased by 39.3 thousand, or 3.3%, from 1,193.9 thousand in June 2023 to 1,154.7 thousand in June 2024[120] - Total customer relationships decreased by 5.3 thousand, or 0.5%, from 1,101.0 thousand in June 2023 to 1,095.7 thousand in June 2024[120] Income and Profitability - The company experienced a decline in net income by 13.8%, from $55.246 million in 2023 to $47.649 million in 2024[111] - Net income for the three months ended June 30, 2024, was $47.6 million, down from $55.2 million in the same period in 2023[127] - Net income for the six months ended June 30, 2024, was $95.0 million, down from $112.7 million in 2023[137] Expenses and Cost Management - Operating expenses (excluding depreciation and amortization) were $105.8 million, a decrease of $7.0 million, or 6.2%, compared to the same period in 2023[123] - Operating expenses (excluding depreciation and amortization) were $212.4 million, a decrease of $12.6 million or 5.6% compared to the prior year[131] - Selling, general and administrative expenses increased by $4.6 million, or 5.3%, to $90.8 million for the three months ended June 30, 2024[124] EBITDA - Adjusted EBITDA for the first half of 2024 was $212.372 million, reflecting an 8.2% decrease from $231.294 million in the same period of 2023[111] - Adjusted EBITDA for the six months ended June 30, 2024, was $212.4 million, a decrease of $18.9 million or 8.2% compared to $231.3 million in 2023[143] Capital Expenditures - Capital expenditures decreased by 12.2% to $71.592 million in 2024, down from $81.507 million in 2023[111] - Capital expenditures for the six months ended June 30, 2024, totaled $137.5 million, a decrease from $177.6 million in the same period of 2023[166] Debt and Financing - The company amended its Credit Agreement to increase the Revolving Credit Facility by $500 million to $1 billion and extended its maturity to February 2028[154] - As of June 30, 2024, the company had approximately $1.76 billion in outstanding term loans and $238 million in borrowings under the Revolving Credit Facility[157] - The company completed an offering of $650 million in Senior Notes due 2030, bearing interest at 4.00% per annum[158] Shareholder Returns - A quarterly dividend of $2.95 per share was approved, resulting in a total distribution of $17.1 million during the second quarter of 2024[152] - The company had $143.1 million remaining under the share repurchase authorization as of June 30, 2024, with a total of 646,244 shares repurchased at an aggregate cost of $556.9 million since going public[151]

Exhibit 99.1 Cable One Reports Second Quarter 2024 Results August 1, 2024 – PHOENIX – (BUSINESS WIRE) – Cable One, Inc. (NYSE: CABO) (the "Company" or "Cable One") today reported financial and operating results for the quarter ended June 30, 2024. Three Months Ended June 30, | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------|-------|------------------|-------|------------------|-------|-------------------------|---------------------| | (dollars in thou ...

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 1. On the other hand, if they miss, the stock may move lower. Zacks Consensus Estimate Revenues are expected to be $401.23 million, down 5.4% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 2.07% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reass ...

Cable One, Inc. (NYSE:CABO) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Jordan Morkert – Vice President-Investor Relations Julia Laulis – Chief Executive Officer Todd Koetje – Chief Financial Officer Conference Call Participants Sebastiano Petti – J.P. Morgan Brandon Nispel – KeyBanc Capital Markets Greg Williams – TD Cowen Frank Louthan – Raymond James Steven Cahall – Wells Fargo Kohulan Paramaguru – BNP Paribas Operator Hello, and thank you for standing by. My name is Regi ...

U N C O N S O L I D A T E D I N V E S T M E N T S S U M M A R Y ( M AY 2 , 2 0 2 4 ) | --- | --- | --- | --- | --- | |---------|--------------------------------------------------------------------------------|----------------------------|---------------------------------------------------------------|----------------------------------------| | Company | March 31, 2024 Book Value ($mm) | March 31, 2024 % Ownership | Investment Month(s) | $1,331mm (3) | | | | $566 45% | November 2020 | LQA Q4 2023 Revenue | | ...

The Company classified $0.9 million of property, plant and equipment as held for sale as of December 31, 2023. Such assets are included within other noncurrent assets in the condensed consolidated balance sheet. These assets were sold during the three months ended March 31, 2024 for total proceeds of $2.3 million, resulting in the recognition of a $1.4 million gain on the sale. 6. GOODWILL AND INTANGIBLE ASSETS | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...