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26.04.2024 07:00
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Charter Announces First Quarter 2024 Results
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PR Newswire
STAMFORD, Conn., April 26, 2024
STAMFORD, Conn., April 26, 2024 /PRNewswire/ -- Charter Communications, Inc. (along with its subsidiaries, the "Company" or "Charter") today reported financial and operating results for the three months ended March 31, 2024.
- First quarter total residential and small and medium business ("SMB") Internet customers decreased by 72,000. As of March 31, 2024, Charter served a total of 30.5 million residential and SMB Internet customers.
- First quarter total residential and SMB mobile lines increased by 486,000. As of March 31, 2024, Charter served a total of 8.3 million mobile lines.
- As of March 31, 2024, Charter had a total of 32.0 million residential and SMB customer relationships, excluding mobile-only relationships.
- First quarter revenue of $13.7 billion grew by 0.2% year-over-year, driven by residential mobile service revenue growth of 37.8% and residential Internet revenue growth of 1.9%.
- Net income attributable to Charter shareholders totaled $1.1 billion in the first quarter.
- First quarter Adjusted EBITDA1 of $5.5 billion grew by 2.8% year-over-year.
- First quarter capital expenditures totaled $2.8 billion and included $1.0 billion of line extensions.
- First quarter net cash flows from operating activities totaled $3.2 billion, compared to $3.3 billion in the prior year.
- First quarter free cash flow1 of $358 million decreased from $664 million in the prior year, primarily due to higher capital expenditures, mostly driven by Charter's network evolution and expansion initiatives and a one-time settlement payment in the first quarter of 2024.
- During the first quarter, Charter purchased 1.7 million shares of Charter Class A common stock and Charter Communications Holdings, LLC ("Charter Holdings") common units for $567 million.
"Our differentiated converged connectivity products provide us with significant competitive advantages that position Charter for sustainable customer and financial growth," said Chris Winfrey, President and CEO of Charter.
| 1. | Adjusted EBITDA and free cash flow are non-GAAP measures defined in the "Use of Adjusted EBITDA and Free Cash Flow Information" section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release. |
| Key Operating Results | ||||||
| | | Approximate as of | | | ||
| | | March 31, 2024 (c) | | March 31, 2023 (c) | | Y/Y Change |
| Footprint | | | | | | |
| Estimated Passings (d) | | 57,351 | | 55,885 | | 2.6 % |
| | | | | | | |
| Customer Relationships (e) | | | | | | |
| Residential | | 29,797 | | 29,996 | | (0.7) % |
| SMB | | 2,219 | | 2,215 | | 0.2 % |
| Total Customer Relationships | | 32,016 | | 32,211 | | (0.6) % |
| | | | | | | |
| Residential | | (107) | | 8 | | (115) |
| SMB | | (3) | | 8 | | (11) |
| Total Customer Relationships Quarterly Net Additions | | (110) | | 16 | | (126) |
| | | | | | | |
| Total Customer Relationship Penetration of Estimated Passings (f) | | 55.8 % | | 57.6 % | | (1.8) ppts |
| | | | | | | |
| Monthly Residential Revenue per Residential Customer (g) | | $ 120.48 | | $ 120.56 | | (0.1) % |
| Monthly SMB Revenue per SMB Customer (h) | | $ 163.44 | | $ 164.58 | | (0.7) % |
| | | | | | | |
| Residential Customer Relationships Penetration | | | | | | |
| One Product Penetration (i) | | 47.3 % | | 46.0 % | | 1.3 ppts |
| Two Product Penetration (i) | | 33.0 % | | 32.8 % | | 0.2 ppts |
| Three or More Product Penetration (i) | | 19.7 % | | 21.1 % | | (1.4) ppts |
| | | | | | | |
| % Residential Non-Video Customer Relationships | | 56.0 % | | 52.5 % | | 3.5 ppts |
| | | | | | | |
| Internet | | | | | | |
| Residential | | 28,472 | | 28,479 | | 0.0 % |
| SMB | | 2,044 | | 2,030 | | 0.7 % |
| Total Internet Customers | | 30,516 | | 30,509 | | 0.0 % |
| | | | | | | |
| Residential | | (72) | | 67 | | (139) |
| SMB | | — | | 9 | | (9) |
| Total Internet Quarterly Net Additions | | (72) | | 76 | | (148) |
| | | | | | | |
| Video | | | | | | |
| Residential | | 13,111 Werbung Mehr Nachrichten zur Charter Communications Corp. Aktie kostenlos abonnieren
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