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Cogent Communications (CCOI)
NASDAQ:CCOI
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$1.22Last Year’s EPS
$4.17Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -10.48%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant progress in cost savings and growth in key areas like wavelength and IPv4 leasing revenues. However, these positives were somewhat offset by revenue declines in certain segments, increased costs, and higher debt ratios. The balance between achievements and challenges suggests a mixed outlook.Company Guidance
During the Cogent Communications Holdings Q3 2024 earnings call, CEO David Schaeffer provided detailed guidance on the company's financial performance and strategic initiatives. The company achieved $165 million in cost savings, representing 75% of their $220 million target, thanks to synergies from the Sprint Global Markets acquisition. Total revenue for the quarter was $257.2 million, with significant contributions from wavelength and IPv4 leasing revenues, which increased sequentially by 45.8% and 11.8%, respectively. Cogent's EBITDA increased by $8.7 million sequentially, with a margin improvement of 350 basis points to 13.9%, despite headwinds from reduced payments under the IP transit agreement with T-Mobile. The company is focused on expanding its wavelength services, expecting to offer them in over 800 locations by year-end, and continues to capitalize on its expanded data center footprint post-Sprint acquisition. Additionally, Cogent has increased its quarterly dividend for the 49th consecutive time, reflecting a 4.2% annual growth rate, and aims for long-term revenue growth of 5-7% with a 100 basis points annual increase in adjusted EBITDA margins.Cost Savings from Sprint Acquisition
Cogent realized $165 million or approximately 75% of its targeted $220 million in annual cost savings from the Sprint Global Markets acquisition ahead of the 2026 target.
Wavelength Revenue Growth
Wavelength revenues increased sequentially by 45.8% to $5.3 million and 76.7% year-over-year.
IPv4 Leasing Revenue Increase
IPv4 leasing revenue increased sequentially by 11.8% to $12.8 million and 31.5% year-over-year.
Improved Sales Force Productivity
Sales force productivity increased from 3.8 installed orders per rep per month in Q2 to 4 orders per rep per month in Q3.
Dividend Increase
Cogent increased its quarterly dividend by $0.01 per share, marking the 49th consecutive increase.
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CCOI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CCOI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $83.69 | $84.34 | +0.78% |
| Aug 08, 2024 | $65.79 | $67.06 | +1.93% |
| May 09, 2024 | $60.80 | $59.17 | -2.68% |
| Feb 29, 2024 | $76.30 | $76.48 | +0.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cogent Communications (CCOI) report earnings?
Cogent Communications (CCOI) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Cogent Communications (CCOI) earnings time?
Cogent Communications (CCOI) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CCOI EPS forecast?
CCOI EPS forecast for the fiscal quarter 2024 (Q4) is -$1.22.
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