Altice Usa - ATUS STOCK NEWS

Altice USA (ATUS) reported its Q4 2022 and full-year results, highlighting a significant decline in total revenue, which fell 6.0% year-on-year to $2.37 billion. This decline was attributed to decreases in Residential revenue by 5.0% and Business Services revenue by 9.3%. The company registered a net loss of $193.1 million in Q4, compared to a profit of $251.7 million in the same quarter the previous year. Adjusted EBITDA also decreased 15.7% year-on-year to $913.3 million. Despite these challenges, Altice achieved 2.2 million fiber passings and grew its fiber customer base to over 170,000 households, signaling progress in its fiber expansion strategy.

Altice USA (NYSE: ATUS) will hold a conference call on February 22, 2023, at 4:30 p.m. ET to discuss its fourth quarter and full year financial results ending December 31, 2022. A press release detailing the results will be available at 4:05 p.m. ET. The call will feature CEO Dennis Mathew and CFO Michael Grau. Participants can dial in at 877-404-9653 (U.S.) or +1 201-689-8856 (international). A live webcast will be accessible on the company's investor relations website. Altice USA serves nearly 5 million customers with broadband and video services across 21 states.

DataVerge has announced a partnership with Lightpath to enhance connectivity in the underserved Brooklyn area. This strategic collaboration aims to expand their presence and improve interconnection capabilities, particularly at Industry City, the largest interconnected campus in the U.S. DataVerge's carrier-neutral facility provides direct access to dark fiber and transport providers, making it a key player in the digital economy. Lightpath’s network spans over 20,000 route miles, connecting to over 75 data centers across the country.

This partnership is expected to significantly benefit local businesses and residents, offering more diverse connectivity solutions.

Altice USA (NYSE: ATUS) announced the pricing and allocation of a new $2 billion 5-year Senior Secured Term Loan B by its subsidiary, CSC Holdings, LLC. This loan is part of an existing credit agreement effective from October 9, 2015. It aims to refinance existing loans from March 2017 and October 2018. The interest rate will be based on the Term SOFR rate plus a margin of 4.50%. Consequently, the average cost of debt for CSC will rise from 5.1% to 5.3%, extending the weighted average life of its debt from 5.8 to 6.0 years as of September 30, 2022.

Altice USA (NYSE: ATUS) has completed its review of strategic alternatives for its Suddenlink business. The Board of Directors has unanimously decided to continue operating Suddenlink, believing this aligns with the company's long-term business plan and serves the best interests of its stockholders. Altice USA is a leading provider of broadband and video services in the U.S., serving nearly 5 million customers through its Optimum brand and offering advanced advertising solutions via its a4 business.

Lightpath has appointed Inge Smidts, John Ghirardelli, and Nick Brown to its Board of Managers, effective October 19, 2022. Smidts brings over 20 years of experience in the communications sector, currently serving as CEO of Cable and Wireless. Ghirardelli has nearly two decades in digital infrastructure with Morgan Stanley Infrastructure Partners, while Brown has extensive experience in communications and finance, currently EVP at Altice USA. Lightpath operates an extensive all-fiber network across the Northeast United States, supported by Altice USA's 50.01% ownership.

Lightpath has achieved a remarkable score of 96 and a 5-Star Rating in the 2022 GRESB Infrastructure Asset Benchmark Report, ranking first among private data transmission companies in the Americas. This score is significantly above the industry average of 79. The GRESB assessment evaluates environmental, social, and governance (ESG) performance, and Lightpath's score underscores its commitment to these objectives. CEO Chris Morley stated that the company will continue to prioritize ESG initiatives, benefiting both the organization and the wider community.

Altice USA (ATUS) reported Q3 2022 results with total revenue of $2.39 billion, down 7.0% YoY. Notably, Residential revenue declined 4.4%, while Business Services and News & Advertising revenues fell 16.8% and 16.1% respectively. Net income attributable to stockholders dropped to $85 million ($0.19/share) from $267 million ($0.58/share) a year prior. Fiber broadband net additions surged to 31k, reaching 135k total fiber customers. The company continues its fiber deployment strategy, achieving 1.9 million fiber passings despite macroeconomic pressures. Capital expenditures rose 59.6% YoY to $494 million.

Lightpath announced its entrance into the Miami market, launching a 135-mile all-fiber network. A 55-mile subterranean network will be operational by January 2023, with additional expansions planned. This initiative follows Lightpath's successful expansion into Boston in June 2021. The company aims to provide robust connectivity, leveraging its existing network of over 20,000 route miles and catering to over 13,500 service locations.