Sirius XM (SIRI) Reports Q4 In-Line Revenues; Offers FY18 Revenue Outlook Below Consensus

January 31, 2018 7:08 AM EST

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Sirius XM (NASDAQ: SIRI) reported Q4 EPS of $, versus $0.05 reported last year. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.4 billion.

The Company's net (loss) income totaled $(37) million and $648 million in the fourth quarter and full-year 2017, respectively, compared to $205 million and $746 million in the fourth quarter and full-year 2016, respectively. Net (loss) income per diluted common share was $(0.01) and $0.14 in the fourth quarter and full-year 2017, respectively, compared to $0.04 and $0.15 in the fourth quarter and full-year 2016, respectively. The fourth quarter and full-year 2017 net income results reflect a $185 million, or $0.04 per diluted share, charge associated with the revaluation of the Company\'s deferred tax assets as a result of the Tax Cuts and Jobs Act. In the fourth quarter 2017, the Company also recorded a decrease of approximately $72 million, or approximately $0.02 per diluted share, in the fair value of its investment in Pandora, reversing the prior quarter's unrealized gains.

2018 GUIDANCE

The Company\'s full-year 2018 guidance for net subscribers, revenue, adjusted EBITDA and free cash flow, as issued on January 10, 2018, is as follows:

  • Self-pay net subscriber additions of approximately 1 million,
  • Revenue of approximately $5.7 billion,
  • Adjusted EBITDA of approximately $2.15 billion, and
  • Free cash flow of approximately $1.5 billion.

GUIDANCE:

Sirius XM sees FY2018 revenue of $5.7 billion, versus the consensus of $5.74 billion.

For earnings history and earnings-related data on Sirius XM (SIRI) click here.



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