Fri. 3 May 2024, 7:16am ET
Benzinga
Earnings, News
First-Quarter 2024 Highlights
- Added 322,000 fiber passings to reach 6.8 million total locations passed with fiber
- Added 88,000 fiber broadband customers, resulting in fiber broadband customer growth of 18% year-over-year
- Revenue of $1.46 billion increased 1.5% year-over-year as growth in fiber-based products was partly offset by declines in copper-based products
- Operating income of $90 million and net income of $1 million
- Adjusted EBITDA of $547 million increased 5.4% year-over-year driven by revenue growth and cost savings1
- Cash capital expenditures of $666 million plus $363 million of vendor financing payments, for total cash capital investment of $1.0 billion2
- Generated net cash from operations of $335 million