Charter Announces Third Quarter 2016 Results

STAMFORD, Conn., Nov. 3, 2016

Key highlights:

• As of September 30, 2016, Charter's network reached 49.0 million homes and businesses, and served 25.9 million residential and small and medium business ("SMB") customers.
• In late September, Charter launched its high value Spectrum pricing, packaging and brand in certain Legacy TWC markets, including Texas and Southern California. Spectrum will launch in additional Legacy TWC and Legacy Bright House markets in the fourth quarter of 2016 and in early 2017.
• Third quarter revenues of $10.0 billion grew 7.4% on a pro forma basis, as compared to the prior year period, driven by residential revenue growth of 6.7% and commercial revenue growth of 12.1%. On an actual basis, third quarter revenue grew 309.6% year-over-year, driven primarily by the Transactions.
• Total customer relationships increased 279,000 during the third quarter, compared to 269,000 on a pro forma basis during the third quarter of 2015. On a pro forma basis, customer relationships grew by 1,261,000 or 5.1% for the twelve months ended September 30, 2016.
• During the third quarter of 2016, total residential and SMB primary service units ("PSUs") increased by 409,000, versus 669,000 on a pro forma basis in the year-ago quarter. The year-over-year decline in PSU net additions was primarily driven by fewer residential voice net additions in the third quarter of 2016 versus the third quarter of 2015.
• Third quarter Adjusted EBITDA² of $3.6 billion grew 14.5% year-over-year on a pro forma basis. Excluding transition costs in the third quarters of 2016 and 2015, Adjusted EBITDA grew by 15.1% year-over-year. On an actual basis, third quarter Adjusted EBITDA grew by 328.3%, driven primarily by the Transactions.
• Net income attributable to Charter shareholders totaled $189 million in the third quarter, compared to $2 million on a pro forma basis during the same period last year, driven by higher income from operations year-over-year and a $71 million gain on financial instruments. On an actual basis, net income totaled $189 million, compared to $54 million during the third quarter of 2015, driven by higher income from operations following the close of the Transactions, partially offset by higher interest expense.
• Third quarter capital expenditures totaled $1.7 billion. Excluding transition capital, third quarter 2016 capital expenditures totaled $1.6 billion.

"Our goal is to be a superior service provider. Charter, under the Spectrum brand, provides high quality products and service at attractive prices, allowing us to grow our residential and business customer relationships," said Tom Rutledge, CEO and Chairman of Charter Communications. "The integration of Time Warner Cable and Bright House Networks is on track, and we are beginning to implement the Spectrum brand, with better products, pricing and packaging. Improving our service operations in a way that allows consumers to recognize Spectrum as the best service provider will take time, but our proven operating strategies will work for customers, employees, shareholders and the communities we serve."

1

See Exhibit 99.1 in the Company's Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2016 filed with the Securities and Exchange Commission on November 3, 2016, which includes reconciliations of the pro forma information to actual information for each quarter of 2015 and the first and second quarters of 2016. See the "Use of Adjusted EBITDA, Free Cash Flow and Pro Forma Information" section of this document for additional information.

2

Adjusted EBITDA and free cash flow are defined in the "Use of Adjusted EBITDA, Free Cash Flow and Pro Forma Information" section and are reconciled to consolidated net income (loss) and net cash flows from operating activities, respectively, in the addendum of this news release. ARIVA.DE Börsen-Geflüster Kurse Charter Communications Corp. 254,61 $ -1,73%

Key Operating Results

	Approximate as of
	Actual		Pro Forma
	September 30, 2016 (a)		September 30, 2015 (a)			Y/Y Change
Footprint (b)
Estimated Video Passings	49,001		48,223			2%
Estimated Internet Passings	48,689		47,866			2%
Estimated Voice Passings	47,854		46,997			2%
Penetration Statistics (c)
Video Penetration of Estimated Video Passings	35.3%		35.9%			(0.6) ppts
Internet Penetration of Estimated Internet Passings	45.6%		42.7%			2.9 ppts
Voice Penetration of Estimated Voice Passings	23.1%		21.9%			1.2 ppts
Customer Relationships (d)
Residential	24,551		23,436			5%
Small and Medium Business	1,367		1,221			12%
Total Customer Relationships	25,918		24,657			5%
Residential
Primary Service Units ("PSUs")
Video	16,887		16,944			—%
Internet	21,017		19,416			8%
Voice	10,288		9,655			7%
	48,192		46,015			5%
Quarterly Net Additions/(Losses)
Video	(47)		(20)			NM
Internet	350		369			(5)%
Voice	33		256			(87)%
	336		605			(44)%
Single Play (e)	9,447		8,809			7%
Double Play (e)	6,569		6,674			(2)%
Triple Play (e)	8,535		7,953 Werbung Mehr Nachrichten zur Charter Communications Corp. Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 26.04.24 - PR Newswire Datang Intnl Pwr Gen - CONNECTED TRANSACTION ANNOUNCEMENT 26.04.24 - PR Newswire Datang Intnl Pwr Gen - 2023 Annual Report 26.04.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Mattioli Woods plc Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59