The following is a summary of the Altice USA, Inc. (ATUS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Altice USA reported Q1 2024 revenue of approximately $2.3 billion, a decline of 1.9% from the previous year, but an improvement from Q1 2023's decline of 5.3%.

• The company's adjusted EBITDA margin was 37.6% with total adjusted EBITDA at $847 million, a 2.5% decline.

• Residential ARPU exceeded $135, demonstrating 30 basis points growth YoY.

• Business Services revenue grew by 0.3%, primarily driven by the Lightpath business which saw a growth of 3.6%.

• The company managed to generate positive free cash flow of approximately $64 million as compared to negative $166 million in the first quarter of the prior year.

Business Progress:

• Altice USA added 53,000 new fiber customers in Q1, taking the total customer base on fiber to 395,000.

• Despite net broadband losses for Q1, the company's focus remains on profitable growth and financial discipline.

• The company plans on expanding its network to new markets with an aim to add more than 175,000 additional total passings in 2024.

• It launched Optimum Mobile for B2B to enhance its portfolio and contribute to growth throughout the year.

• The capital expenditure for 2024 is expected to be between $1.6 and $1.7 billion focusing on strategic investments to enhance the network and products.

• Altice USA has restructured its leadership with the introduction of Optimum Market Structure (OMS) and a new Chief Marketing Officer, Jen Garrett, to compete effectively at a local level and transform marketing efforts.

More details: Altice USA IR

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