Q1 2024 Altice USA Inc Earnings Call Transcript
Key Points
- Altice USA Inc (ATUS) reported progress in improving financial and operational performance, with a focus on quality products, networks, and services.
- The company's Optimum Fiber Internet network received recognition for delivering the fastest and most reliable Internet speeds in multiple states, enhancing its market reputation.
- Altice USA Inc (ATUS) is expanding its network to new markets with strategic edge-outs, leveraging existing infrastructure to increase returns on capital expenditures.
- The company has seen a significant increase in data consumption among its customers, indicating strong demand for its broadband services.
- Altice USA Inc (ATUS) introduced everyday pricing as its new rack rate, simplifying and making pricing more transparent, which has led to less ARPU erosion and stable customer churn trends.
- Altice USA Inc (ATUS) faces challenges from the difficult macroeconomic conditions, including low household mobility and a significant decrease in housing starts in its key markets.
- The company reported a total revenue decline of 1.9% year over year, indicating ongoing pressures on its business model.
- There is continued competitive pressure in the west from new fiber entrants into traditional DSL markets, moderating growth expectations.
- Altice USA Inc (ATUS) experienced a slight uptick in disconnects in the first quarter due to a new disciplined approach to base management.
- The company's adjusted EBITDA was down 2.5% to approximately $847 million in Q1, reflecting challenges in achieving revenue growth and managing operational expenses.
Greetings, and welcome to the Altice USA first-quarter 2024 earnings call. (Operator Instructions)
As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Sarah Freedman, Investor Relations. Thank you. Sarah, you may begin.
Hello, and welcome to the Altice USA Q1 2024 earnings call. We are joined today by Altice USA's Chairman and CEO, Dennis Matthew, and CFO, Marc Sirota, who together will take you through the presentation and then be available for questions.
As today's presentation may contain forward looking statements, please carefully review the section titled forward-looking statements on slide 2. I'll turn it over to Dennis to begin.
Thank you, Sarah. I'm pleased to be here with all of you to review our Q1 performance and discuss some of the opportunities we are working on for the rest of the year.
In Q1, we continued to make
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