NYSE$OPTU
Optimum Communications Inc A · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Altice USA reported Q3 2021 results with revenue growth driven by Residential, Business Services, and News & Advertising.
Altice USA reported a 5.8% YoY increase in total revenue, reaching $2.57 billion in Q3 2021. Net income attributable to stockholders was $266.9 million, a significant improvement compared to the net loss in Q3 2020. The company is focusing on broadband customer growth and investing in its Residential business.
- Total revenue grew by 5.8% YoY, driven by growth in Residential, Business Services, and News & Advertising segments.
- Net income attributable to stockholders was $266.9 million, compared to a net loss of $4.7 million in the same quarter last year.
- Adjusted EBITDA increased by 3.4% YoY to $1.16 billion with a margin of 45.2%.
- Residential broadband net losses were -13k in Q3 2021, compared to +26k broadband net additions in Q3 2020.
Headline financials
Revenue & EPS history
Altice USA · Revenue · Quarterly
$2.58B
Revenue by segment
Altice USA · $3.99B total across 8 segments · Q2 2024
- Residential Revenue$1.75B—43.9%
- Broadband$915M—22.9%
- Video$739M—18.5%
- Business Services$369M+1.3%9.2%
- News & Advertising$105M-7.2%2.6%
- Telephony$71.7M—1.8%
- Mobile$27.5M—0.7%
- Other$12.6M+15.5%0.3%
Forward guidance
Altice USA updated its financial outlook for FY 2021, expecting revenue growth, adjusted EBITDA growth, cash capital expenditures of ~$1.3 billion, free cash flow of ~$1.6 billion, and share repurchases of < $1.0 billion.
Tailwinds
- Revenue: Growth
- Adjusted EBITDA: Growth
- Cash capital expenditures: ~$1.3 billion
- Free Cash Flow: ~$1.6 billion
- Year-end leverage target (CSC Holdings, LLC debt silo): 5.4x net debt / Adjusted EBITDA on an L2QA basis
Headwinds
- Share repurchases: < $1.0 billion
- The Company expects to return to a leverage target of 4.5x - 5.0x net debt / Adjusted EBITDA on an L2QA basis for its CSC Holdings, LLC debt silo over time.
- Additional FTTH capex to add an incremental 1 million passings in 2022 (reaching ~2.5 million FTTH total passings by the end of 2022)
- Additional New Build capex to add an incremental 175k+ new passings in 2022
- Capex for 50 to 75 new retail stores in 2022
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2021
-1.7%
Avg return
Earnings day
-2.6%
Avg return
5 days after
-4.8%
Avg return
30 days after
53%
19 / 36 earnings
Positive
+27.7%
Q2 2022
Best reaction
-33.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2024 | — | — | — | |
| Q1 2026 | -13.0% | -31.4% | -21.0% | |
| Q4 2025 | +3.7% | +0.0% | -13.0% | |
| Q3 2025 | -4.7% | -8.4% | -14.4% | |
| Q2 2025 | -8.5% | -6.7% | -6.3% | |
| Q1 2025 | +4.6% | +3.0% | -15.1% | |
| Q4 2024 | +0.7% | +5.9% | -7.0% | |
| Q3 2024 | -4.2% | -2.3% | -5.7% | |
| Q1 2024 | -2.5% | -1.5% | +22.2% | |
| Q4 2023 | +6.9% | -2.0% | +30.9% | |
| Q3 2023 | +0.7% | -15.2% | -20.8% | |
| Q2 2023 | +13.1% | +8.1% | -4.4% | |
| Q1 2023 | -12.9% | -5.7% | -17.3% | |
| Q4 2022 | +1.0% | -10.1% | -25.4% | |
| Q3 2022 | -33.7% | -30.0% | -36.1% | |
| Q2 2022 | +27.7% | +27.4% | +7.2% | |
| Q1 2022 | -10.4% | -5.5% | +12.2% | |
| Q4 2021 | -19.2% | -21.4% | -20.3% | |
| Q3 2021 | +4.4% | +1.4% | -2.1% | |
| Q2 2021 | -9.3% | -9.4% | -18.2% | |
| Q1 2021 | +3.1% | +3.0% | +2.2% | |
| Q4 2020 | -7.0% | -7.1% | -7.6% | |
| Q3 2020 | +3.3% | +4.4% | +31.5% | |
| Q2 2020 | +7.1% | +11.1% | +8.7% | |
| Q1 2020 | -5.2% | -10.7% | -2.4% | |
| Q4 2019 | -5.1% | -2.5% | -24.6% | |
| Q3 2019 | -17.8% | -17.0% | -19.9% | |
| Q2 2019 | +3.9% | +0.4% | +10.6% | |
| Q1 2019 | +5.6% | +3.3% | +1.3% | |
| Q4 2018 | +1.8% | +0.6% | +0.8% | |
| Q3 2018 | +9.3% | +12.8% | +8.1% | |
| Q2 2018 | +1.3% | +2.0% | +5.2% | |
| Q1 2018 | +10.2% | +14.7% | +8.0% | |
| Q4 2017 | -5.2% | +0.5% | -3.7% | |
| Q3 2017 | -9.4% | -7.5% | -26.1% | |
| Q4 2016 | -3.9% | -3.9% | -5.7% | |
| Q2 2017 | +3.1% | +7.0% | -2.9% | |
| Q1 2017 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
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| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — |
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