Cincinnati Bell (CBB) Misses Q3 EPS by 15c, Revenues Miss; Raises FY18 Revenue Mid-Point Outlook Above Consensus

Cincinnati Bell (NYSE: CBB) reported Q3 EPS of ($0.16), $0.15 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $387 million versus the consensus estimate of $390.2 million.

"Our performance this quarter highlights the continued demand for our fiber offerings, reinforcing our ability to win with fiber as we successfully transition customers to an infrastructure that supports high-density data transmission,” said President and CEO Leigh Fox. “We remain encouraged by the growth in our IT services business and the demand for UCaaS, SD-WAN and NaaS as customers shift from legacy to strategic IT solutions, driving significant recurring revenue.”

Mr. Fox continued, “Integration efforts at Hawaiian Telcom are progressing as planned with a clear path forward and solid foundation to replicate Cincinnati Bell’s fiber success in Hawaii. We remain confident in our ability to realize the expected synergies and are optimistic about cross selling IT services in Hawaii. We are on target to achieve our objectives for the year and will continue to invest in our strategic offerings where we are winning to maximize shareholder value."

GUIDANCE:

Cincinnati Bell sees FY2018 revenue of $1.375-1.46 billion, versus the consensus of $1.38 billion.

For earnings history and earnings-related data on Cincinnati Bell (CBB) click here.

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