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• Total Revenue: $9 billion, declined 3.1% year-over-year.

• Mobile Service Revenue Growth: 52% increase.

• News and Advertising Growth: 8.6% increase.

• Business Services Growth: 0.3% increase.

• Other Revenue Growth: 22.5% increase, primarily driven by mobile equipment revenue.

• Residential Revenue Decline: 4.6% decrease.

• Adjusted EBITDA: $3.4 billion, declined 5.4% year-over-year.

• Gross Margin: 67.7%, grew approximately 50 basis points year-over-year.

• Adjusted EBITDA Margin: 38.1% for the full year.

• Cash Capital Expenditures: $1.4 billion, 16% improvement year-over-year.

• Free Cash Flow: $149 million, grew 23% year-over-year.

• Residential ARPU: $135.44, declined 1% year-over-year.

• Fiber Net Additions: 57,000 in Q4, a 22% increase year-over-year.

• Mobile Line Net Additions: 40,000 in Q4, best performance in the last 5 years.

• Broadband Subscribers: 4.3 million at year-end.

• Mobile Lines: 460,000 at year-end.

• Fiber Customers: 538,000, over 18% penetration of the fiber network.

• Capital Intensity: 16% in 2024, down approximately 250 basis points from 2023.

• Leverage Ratio: 7.3x the last 2 quarters annualized adjusted EBITDA.

• Liquidity Position: Approximately $1 billion through undrawn revolver capacity and cash balances.

• Warning! GuruFocus has detected 6 Warning Signs with ATUS.

Release Date: February 13, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Altice USA Inc (NYSE:ATUS) achieved its best-ever quarter for fiber net additions with a 22% year-over-year increase, indicating strong growth in its fiber network.

• The company reported a 40,000 line net addition in its mobile segment, marking the best performance in the last five years and a 70% growth in mobile line net additions.

• Altice USA Inc (NYSE:ATUS) maintained a strong base of 4.3 million broadband subscribers and 460,000 mobile lines, showcasing a solid customer base.

• The company successfully reduced capital expenditures by approximately $480 million over the last two years, demonstrating improved capital efficiency.

• Free cash flow grew by 23% year-over-year to $149 million, despite higher cash interest, highlighting financial resilience and operational efficiency.

Negative Points

• Total revenue declined by 3.1% year-over-year, with residential revenue decreasing by 4.6%, indicating challenges in maintaining revenue growth.

• Broadband subscriber net losses were 39,000 in the quarter, partly due to the impacts of a hurricane and pilot programs, reflecting vulnerability to external factors.

• The West footprint faced challenges from incremental fiber overbuilders and fixed wireless competition, impacting market performance.

• The company experienced a strong political cycle in early Q4, but news and advertising revenue came in below initial projections, indicating volatility in this segment.

• Altice USA Inc (NYSE:ATUS) has a high leverage ratio of 7.3x, which could pose risks to financial stability if not managed effectively.