[ACCESSWIRE]
Upcoming AWS Coverage on DISH Network Post-Earnings Results
LONDON, UK / ACCESSWIRE / March 8, 2017 / Active Wall St. announces its post-earnings coverage on Charter Communications, Inc. (NASDAQ: CHTR). The Company disclosed its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year fiscal 2016 (FY16) on February 16, 2017. The Stamford, Connecticut-based Company reported a 7.2% y-o-y growth, on a pro-forma basis in its quarterly revenue; whereas its adjusted EBITDA grew 12.7% y-o-y on a pro-forma basis. Register with us now for your free membership at:
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One of Charter Communications' competitors within the CATV Systems space, DISH Network Corp. (NASDAQ: DISH) reported on February 22, 2017, its Q4 and year-end 2016 financial results. AWS will be initiating a research report on DISH Network in the coming days.
Today, AWS is promoting its earnings coverage on CHTR; touching on DISH. Get our free coverage by signing up to:
http://www.activewallst.com/register/
Earnings Reviewed
In Q4 FY16, Charter Communications reported total revenue of $10.28 billion compared to pro-forma total revenues of $9.58 billion recorded at the end of Q4 FY15. Total revenue numbers for Q4 FY16 beat market consensus estimates of $10.25 billion. The quarterly revenue growth was primarily driven by residential revenue growth of 6.0% y-o-y and commercial revenue growth of 11.8% y-o-y. Furthermore, an actual basis, Q4 FY16 revenue rallied 309.0% y-o-y as the Company completed the purchase of Time Warner Cable and Bright House Networks on May 18, 2016.
The cable Company's net income attributable to Charter shareholders surged to $454 million, or $1.67 per diluted share in Q4 FY16, from pro-forma net income attributable to Charter shareholders $130 million, or $0.48 per diluted share, in Q4 FY15. Wall Street had expected the Company to report net income of $1.06 per diluted share. Furthermore, on an actual basis, net income totaled $454 million in Q4 FY16 compared to a net loss of $122 million in Q4 FY15.
During FY16, Charter Communications' pro-forma revenue grew 7.0% to $40.02 billion from $37.39 billion in the previous year's same period. On an actual basis, the Company's total revenue surged to $29.00 billion in FY16 from $9.75 billion in FY15. The Company reported pro-forma net income attributable to Charter's shareholders of $1.07 billion, or $3.91 per diluted share in FY16, versus $159 million, or $0.58 per diluted share in FY15. Additionally, on an actual basis, net income for FY16 stood at $3.52 billion, or $15.94 per diluted share, against net loss of $271 million, or $2.68 loss per diluted share, in FY15.
Operational Metrics
For the reported quarter, the Company's total operating costs and expenses were $6.42 billion, versus pro-forma total operating costs and expenses of $6.16 billion in the prior year's comparable quarter. The Company's income from operations for Q4 FY16 came in at $1.44 billion compared to pro-forma income from operations of $968 million in Q4 FY15. The Company reported adjusted EBITDA of $3.85 billion for Q4 FY16, versus pro-forma adjusted EBITDA of $3.42 billion in the last year's comparable quarter. Additionally, adjusted EBITDA margin improved in Q4 FY16 to 37.5%, from pro-forma adjusted EBITDA margin of 35.7% in the same period last year.
Segment-wise
Residential
Charter Communications' Residential revenue segment's reported 6% y-o-y growth in Q4 FY16 to $8.13 billion from pro-forma revenue of $7.67 billion in Q4 FY15. The segment's video revenues were up by 1.9% on pro-forma basis to $4.10 billion, while internet revenues surged 13.3% on a pro-forma basis to $3.31 billion in Q4 FY16. However, the segment's voice revenue fell marginally to $719 million in Q4 FY16 from pro-forma revenue of $722 million in Q4 FY15.
Commercial
In Q4 FY16, Commercial segment's revenues rose 11.8% y-o-y on a pro-forma basis to $1.42 billion. The segment's small and medium business revenues grew 13.0% on a pro-forma basis to $891 million in Q4 FY16. Additionally, the segment's enterprise revenues for the reported quarter came in at $526 million compared to pro-forma revenues of $479 in Q4 FY15.
Advertising sales
The Company's advertising sales segment's revenue increased 20.8% during Q4 FY16 to $506 million from pro-forma revenues of $419 million in Q4 FY15.
Cash Flow & Balance Sheet
During Q4 FY16, net cash flows from operating activities totaled $3.23 billion compared to $611 million in Q4 FY15. Meanwhile, free cash flow for Q4 FY16 was $1.86 billion versus $80 million in the same period last year.
At the close of books on December 31, 2016, Charter Communications had $1.54 billion in cash and cash equivalents compared to $5 million at the close of books on December 31, 2015. The Company's long-term debt increased to $59.72 billion as on December 31, 2016, from $35.72 billion as on December 31, 2015.
Share Repurchase
During Q4 FY16, the Company repurchased 4.0 million shares from the open market for $1.1 billion and at an average price of $265 per share. The Company also repurchased approximately 750,000 common units in late December. Furthermore, the Company's total repurchase during FY16 was 5.8 million of shares and common units amounting to $1.6 billion.
Stock Performance
On Tuesday, March 07, 2017, the stock closed the trading session at $323.24, marginally falling 0.16% from its previous closing price of $323.77. A total volume of 1.09 million shares have exchanged hands. Charter Communications' stock price rallied 21.21% in the last three months, 18.93% in the past six months, and 74.44% in the previous twelve months. Furthermore, on a year to date basis, the stock surged 12.27%. Shares of the company have a PE ratio of 20.43 and have a market capitalization of $87.36 billion.
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