Cable ONE, Inc ( (CABO) ) has released its Q3 earnings. Here is a breakdown of the information Cable ONE, Inc presented to its investors.
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Cable One, Inc. is a prominent broadband communications provider in the United States, operating under brands like Sparklight, and serving over a million customers across 24 states with a focus on innovation and customer experience.
In its third-quarter 2024 earnings report, Cable One, Inc. revealed a 6.4% decline in revenues to $393.6 million compared to the same period last year. Despite the revenue drop, the company reported a significant increase in net income, rising 45.9% to $44.2 million, driven by reductions in non-cash losses and programming costs.
Key financial highlights include a decrease in adjusted EBITDA to $213.6 million, alongside a stable adjusted EBITDA margin of 54.3%. The company also saw a notable increase in net profit margin from 7.2% to 11.2%. Cable One experienced a decline in residential data and video revenues but observed a slight growth in business data revenue. Furthermore, the company repaid $50 million of its revolving credit facility and paid $17 million in dividends during the quarter.
Looking forward, Cable One, Inc. remains optimistic about its phased strategy for sustained broadband growth and its ability to navigate the competitive landscape. The company’s management is focused on delivering long-term value to shareholders, indicating confidence in its strategic initiatives and market position.
