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A careful Technical Snap of Stock – WideOpenWest, Inc.(NYSE: WOW)

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WideOpenWest, Inc. (“WOW!” or the “Company”) (NYSE: WOW), a leading, fully integrated provider of residential and commercial high-speed data, video and telephony services to customers in the United States, recently declared fiscal and operating results for the 3rd-quarter finished September 30, 2k19.

3rd-Quarter 2k19 Highlights (1)

  • Total net Subscriber additions of 7,800
  • Achieved HSD RGU net additions of 10,200 and HSD RGU net additions of 7,900, apart from net additions from Edge-Outs
  • Total Revenue of $285.40M; Net Income of $11.20M; Diluted Earnings for each Share of $0.140
  • Adjusted to exclude the impact of Hurricane Michael, Transaction Adjusted EBITDA was $110.40M, representing a boost of 3.50 percent over the 3rd-quarter of 2k18
  • Transaction Adjusted Diluted Earnings for each Share was $0.260
  • Transaction Adjusted EBITDA margin of 38.70 percent represents an expansion of more than 200.0 basis points over the 3rd-quarter of 2k18
  • Total Edge-Out projects have extended the network to 166,600 homes passed, which included the addition of 14,000 homes passed in the 3rd-quarter of 2k19

“We are very happy with the growth in total HSD RGUs in addition to incline in organic HSD RGUs growth,” said Teresa Elder, chief executive officer of WOW! “This was the best HSD RGU and organic HSD RGU net additions we’ve seen since the 1st-quarter of 2k18. In Addition, the incline in Edge-Out homes passed in the month of September 2k19 was the best in the Company’s history.”

“Transaction Adjusted EBITDA for the 3rd-quarter totaled $110.40M, representing 3.50 percent growth on a year-over-year basis,” said Rich Fish, the chief financial officer of WOW! “The return to HSD RGU and organic HSD RGU growth for the business is an encouraging sign heading into the 4th-quarter, and we reiterate our Transaction Adjusted EBITDA guidance for 2k19.”

Revenue

For the quarter finished September 30, 2k19, Total Revenue reduced 2.10 percent to $285.40M contrast to the quarter finished September 30, 2k18, which was driven mainly by a reduction in residential Video and Telephony RGUs, partially offset by growth in residential HSD RGU’s and ARPU and Business Services Subscription Revenue growth.

Total Subscription Revenue for the quarter finished September 30, 2k19, was $262.40M, down $4.90M, or 1.80 percent, a contrast to the quarter finished September 30, 2k18. Residential Subscription Revenue was $227.7M, down $6.60M, or 2.80 percent, a contrast to the quarter finished September 30, 2k18. Business Services Subscription Revenue totaled $34.70M, up $1.70M, or 5.20 percent, a contrast to the quarter finished September 30, 2k18.

Other Business Services Revenue totaled $6.80M for the quarter finished September 30, 2k19, up $0.20M contrast to the quarter finished September 30, 2k18.

Other Revenue totaled $16.20M for the quarter finished September 30, 2k19, down $1.50M in contrast to the quarter finished September 30, 2k18.

Costs and Costs

Operating Costs (apart from Depreciation and Amortization) totaled $138.80M for the quarter finished September 30, 2k19. Selling, General, and Administrative costs were $40.60M for the quarter finished September 30, 2k19.

Net Income and Earnings for each Share

Net Income for the quarter finished September 30, 2k19, was $11.20M, contrast to Net Income of $30.50M for the quarter finished September 30, 2k18. Diluted Earnings for each Share for the quarter finished September 30, 2k19, was $0.140, a contrast to Diluted Earnings for each Share of $0.370 for the quarter finished September 30, 2k18. The year-over-year decline in Net Income is mainly attributable to Total Revenue declines and a loss on sale of assets. Transaction Adjusted Diluted Earnings for each Share for the quarter finished September 30, 2k19, was $0.260.

Adjusted EBITDA

Adjusted EBITDA for the quarter finished September 30, 2k19, was $114.20M. Transaction Adjusted EBITDA for the three months finished September 2k19, was $110.40M, a boost of $3.70M, or 3.50 percent, contrast to the three months finished September 30, 2k18. Transaction Adjusted EBITDA margin was 38.70 percent for the three months finished September 30, 2k19, a boost of more than 200.0 basis points contrast to the three months finished September 30, 2k18.

Customers

WOW! stated Total Subscribers of 811,300 as of June 30, 2k19. The Company transitioned statistical reporting tools and standardized reporting methodologies in the 3rd-quarter of 2k19. The standardized reporting led to the following declines to June 30, 2k19, subscriber and RGU counts Total Subscribers (1,500), HSD RGUs (1,800), Video RGUs (1,000), and Total RGUs (2,800).

Total Subscribers turned up by 7,800, or 1.00 percent, contrast to adjusted June 30, 2k19, and HSD RGUs turned up 10,200, or 1.30 percent, contrast to adjusted June 30, 2k19.

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