The following is a summary of the Altice USA, Inc. (ATUS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Altice USA reported Q3 2024 revenue of $2.2 billion, with a year-over-year decline of 3.9% primarily driven by residential revenue decline.

• Adjusted EBITDA for the quarter was $862 million, with adjusted EBITDA margin at 38.7%.

• Residential ARPU was consistent at around $135, despite pressures from video subscriber losses.

• The company generated $100 million in free cash flow year-to-date, reflecting efficient capital management and cost reductions, including a $200 million decrease in annual capital expenditures compared to 2023.

Business Progress:

• Altice USA made significant strides in its operational and business transformation, particularly in improving network health and capital efficiency.

• Launched new strategic TV packages and mobile initiatives, enhancing product offerings and customer flexibility.

• Notable progress in fiber internet and mobile products, adding 47,000 fiber customers and 36,000 new mobile lines in Q3.

• Implemented AI tools and streamlined customer service processes to improve operational efficiency and customer satisfaction.

Opportunities:

• Continuing to evolve high-speed fiber network and Mobile services with the aim to grow Mobile lines to over 1 million by 2027 and reach 500,000 fiber customers by year-end.

• Potential to expand into mid-market and enterprise segments in B2B, with plans to launch new products like connection backup and advanced security services.

Risks:

• Broadband subscriber net losses of 50,000 in the quarter indicate ongoing challenges in customer retention amidst competitive pressures.

• The termination of the Affordable Connectivity Program (ACP) impacted the customer base resulting in approximately 10,000 disconnects.

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