Cable ONE, Inc ( (CABO) ) has released its Q4 earnings. Here is a breakdown of the information Cable ONE, Inc presented to its investors.
Cable One, Inc., a leading broadband communications provider, delivers internet, video, and voice services to residential and business customers across 24 states, emphasizing innovation and customer experience. The company reported its financial results for the fourth quarter and full year of 2024, highlighting a challenging year with a notable decrease in revenues and net income compared to 2023. Key financial metrics showed a 6% decline in fourth-quarter revenues to $387.2 million and a significant net loss of $105.2 million, attributed to non-cash impairments and adjustments related to its investment in Mega Broadband Investments Holdings LLC. For the full year, revenues fell by 5.9% to $1.58 billion, and net income dropped by 93.6% to $14.5 million, with similar factors impacting the annual results. Despite these challenges, the company managed to increase its cash flows from operating activities and reduced capital expenditures, indicating a focus on maintaining liquidity and operational efficiency. Looking ahead, Cable One’s management remains optimistic about the steps taken in 2024 to stabilize and grow its residential data services, setting a foundation for sustainable long-term growth.