Welcome to our dedicated page for WideOpenWest news (Ticker: WOW), a resource for investors and traders seeking the latest updates and insights on WideOpenWest stock.
WideOpenWest, Inc., commonly known as WOW!, is a leading broadband services provider in the United States. Established in 1996, the company initially offered cable TV services in Illinois, Michigan, Ohio, and Indiana. Over the years, it has expanded its portfolio to include digital cable, HDTV, DVRs, high-speed internet, and local and long-distance phone services. The company significantly broadened its reach in 2012 by acquiring Knology, Inc., thus adding markets in Tennessee, Alabama, Georgia, South Carolina, Florida, Kansas, Minnesota, and Iowa.
WOW! is privately owned by Avista Capital Partners and has its corporate offices in Denver. The company's mission is to provide reliable and affordable broadband solutions, focusing on customer satisfaction and quality service. WOW! serves nearly 2 million residential, business, and wholesale consumers across 16 markets primarily located in the Midwest and Southeast, including Michigan, Alabama, Tennessee, South Carolina, Georgia, and Florida.
The company's service portfolio includes high-speed internet, data, voice, cloud services, and cable television. WOW! has been recognized multiple times for its exceptional human resources practices, winning the National Association for Business Resources' Best & Brightest Company to Work For award ten times, including six consecutive years from 2018 to 2023.
Recent achievements include the groundbreaking of an all-fiber network in Hernando County, Florida, and Livingston County, Michigan, part of the company's largest market expansion in its 25-year history. This initiative aims to add 80,000 homes to WOW!'s Michigan footprint and 44,000 homes in Hernando County. The expansion aligns with the company's goal to provide state-of-the-art, reliable fiber networks with simplified pricing and exceptional customer service.
Financially, the company reported a total revenue of $161.5 million for Q1 2024, with a net loss of $15 million, but showed growth in high-speed data revenue and Adjusted EBITDA. WOW! continues to manage its cost base aggressively while making strides in market expansion and service improvements. With plans to introduce more innovative services in the future, WOW! remains committed to meeting the evolving needs of its customers.
WOW! Internet, Cable & Phone (NYSE: WOW) expands its services to Headland, Alabama, enhancing its fiber network capabilities. This initiative enables local residents to access symmetrical Internet speeds of up to 5 Gig, facilitating uninterrupted streaming and video conferencing. The company aims to deliver reliable and affordable broadband options, alongside its range of services including Whole-Home WiFi and mobile plans. CEO Teresa Elder emphasizes WOW!'s commitment to providing excellent customer service and competitive Internet options in underserved communities.
WOW! Internet, Cable & Phone (NYSE: WOW) will hold a webcast and conference call on November 3, 2022, at 8:00 a.m. ET to discuss its third-quarter 2022 financial results. A news release with results will be issued earlier that day. The call can be accessed via the company's investor relations site or by phone. A replay will be available post-call until November 17, 2022. WOW! serves approximately 1.9 million consumers in 14 markets across the U.S., focusing on delivering high-speed internet and cable services.
WOW! Internet, Cable & Phone (NYSE: WOW) has donated $45,000 to Goldsboro Elementary Magnet School in Sanford, Florida, to enhance the technology and simulation software of its Kids Space Center. This initiative is part of WOW!'s ongoing commitment to investing in the community as they prepare to launch services in Central Florida. The donation will update the Space Center's mission control, experiment bays, and software, supporting STEM education. WOW!'s CEO, Teresa Elder, emphasized the importance of community involvement in education.
On October 12, 2022, WOW! Internet, Cable & Phone (NYSE: WOW) announced a $30,000 donation to the American Red Cross for Hurricane Ian relief efforts in Florida. This support aims to aid shelters and emergency services in areas like Pinellas County and Tampa, which faced severe storm impacts, including flooding and power outages. WOW! is committed to assisting local communities during the long recovery process.
WOW! Internet, Cable & Phone (NYSE: WOW) released its inaugural 2022 ESG/Sustainability Report, emphasizing its commitment to environmental stewardship and community support. The report highlights strategies such as fleet optimization to reduce CO2 emissions by 26.4% in 2021, energy-efficient solutions, and a 59% decrease in real estate footprint. WOW! also promotes employee well-being and community engagement through initiatives like scholarships and volunteer programs. The company is recognized for its corporate governance, with a diverse board and strong compliance measures.
WideOpenWest reported total revenue of $176.1 million for Q2 2022, a 3% decrease year-over-year. High-Speed Data (HSD) revenue rose to $102.6 million, up 4%. Net income fell to $4.0 million, yielding a net profit margin of 2.3%, down from 4.3% a year ago. Pro Forma Adjusted EBITDA reached a record $70.6 million, increasing 10% from last year, with a margin of 40.1%. Subscriber growth continued, with 2,200 new HSD RGUs. The company aims to boost HSD revenue between $415.0 million and $419.0 million for the full year.
WOW! Internet, Cable & Phone (NYSE: WOW), a prominent broadband provider in the U.S., will participate in the KeyBanc Technology Leadership Forum. CEO Teresa Elder is scheduled for a fireside chat on August 8, 2022, at 3:05 PM MT. The live webcast can be accessed via the company’s investor relations website. WOW! serves 1.9 million customers across 14 markets, including states like Michigan and Florida, providing high-speed internet, cable TV, and other services. The company is recognized as a top employer, winning awards for its workplace culture.
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