WideOpenWest (NYSE: WOW) reported Q1 EPS of $0.19, $0.03 better than the analyst estimate of $0.16. Revenue for the quarter came in at $285.5 million versus the consensus estimate of $289.2 million.

Stock Purchase

On December 14, 2017, WOW! announced a $50.0 million common stock repurchase program. As of March 31, 2018, the Company had completed the common stock buyback program, having repurchased over 5.0 million shares of the Company’s common stock in the open market, of which over 4.6 million shares were repurchased in the first quarter for an aggregate purchase price of $45.2 million.

The Board of Directors also announced that it has authorized a new stock repurchase program, commencing immediately, which will enable the Company to repurchase an aggregate of $25.0 million of its outstanding common stock. The repurchase program is expected to be executed over the next twelve months with an objective of delivering value to shareholders, while capitalizing on attractive market valuations.

Shares may be repurchased from time-to-time in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with federal securities laws, including Rule 10b5-1 programs. There is no minimum number of shares that the Company is required to repurchase and the repurchase plan may be suspended, modified or discontinued at any time.

In addition, funds affiliated with Crestview Partners III GP, L.P. have informed the Company that they plan to purchase up to an additional $25.0 million of outstanding common stock in conjunction with the Company.

For earnings history and earnings-related data on WideOpenWest (WOW) click here.