In This Article:
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Total Revenue (Q4 2024): $387.2 million, a decrease of 6% year-over-year.
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Residential Data Revenue (Q4 2024): Decreased by 5.4% year-over-year.
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Business Data Revenue (Q4 2024): Increased by 2.3% year-over-year.
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Net Loss (Q4 2024): $105.2 million, compared to a net income of $103.5 million in Q4 2023.
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Adjusted EBITDA (Q4 2024): $211 million, a decrease of 7% year-over-year.
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Adjusted EBITDA Margin (Q4 2024): 54.5% compared to 55.1% in Q4 2023.
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Capital Expenditures (Q4 2024): $71.9 million, down from $115.6 million in Q4 2023.
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Adjusted EBITDA less Capital Expenditures (Q4 2024): $139.1 million, a 25% increase year-over-year.
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Total Revenue (Full Year 2024): $1.58 billion, a decrease of 5.9% from 2023.
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Residential Data Revenue (Full Year 2024): Declined by 5.5% year-over-year.
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Business Data Revenue (Full Year 2024): Increased by 2.6% year-over-year.
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Net Income (Full Year 2024): $14.5 million, compared to $224.6 million in 2023.
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Adjusted EBITDA (Full Year 2024): $854 million, a decrease of 6.9% from 2023.
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Adjusted EBITDA Margin (Full Year 2024): 54.1% compared to 54.6% in 2023.
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Capital Expenditures (Full Year 2024): $286.4 million, down from $371 million in 2023.
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Adjusted EBITDA less Capital Expenditures (Full Year 2024): $567.6 million, a 4% increase year-over-year.
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Debt Repayment (2024): $238.1 million, including $219.9 million in voluntary early repayments.
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Cash and Cash Equivalents (End of 2024): Approximately $154 million.
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Total Debt (End of 2024): Approximately $3.6 billion.
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Net Leverage Ratio (End of 2024): 4.1 times on a last quarter annualized basis.
Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Cable One Inc (NYSE:CABO) achieved business broadband revenue growth, driven by increased demand in carrier, enterprise, and wholesale segments.
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The company successfully stabilized residential ARPU in the latter half of 2024, aided by increased sales of higher-tier products and services.
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Cable One Inc (NYSE:CABO) completed significant rebranding and unified billing system migrations, which are expected to yield operational efficiencies and cost savings.
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The company reported a 25% year-over-year increase in adjusted EBITDA less capital expenditures for Q4 2024, indicating improved capital efficiency.
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Cable One Inc (NYSE:CABO) is integrating AI into its operations, enhancing customer experience and operational efficiency, and reducing churn.
Negative Points
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Total revenues for Q4 2024 decreased by 6% year-over-year, with residential data revenues declining by 5.4%.
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The discontinuation of the affordable connectivity program led to a loss of approximately 10,000 residential data PSUs.
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Net loss for Q4 2024 was $105.2 million, primarily due to non-cash, non-operating charges related to the MBI investment.
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Adjusted EBITDA for 2024 decreased by 6.9% compared to the previous year, reflecting challenges in maintaining profitability.
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Cable One Inc (NYSE:CABO) faces increasing competition from incumbent LECs deploying new fiber, impacting market dynamics.