WOW! WideOpenWest Inc. (NYSE: WOW) reported Q1 EPS of $0.11, $0.01 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $286.3 million versus the consensus estimate of $283.07 million.

First Quarter 2021 Highlights (1)

• Total Revenue of $286.3 million; Net Income of $9.6 million; Diluted Earnings Per Share of $0.11
• HSD Revenue totaled $152.7 million, an increase of $16.1 million, or 12% compared to first quarter of 2020
• Added 10,000 HSD RGUs
• Adjusted EBITDA was $112.4 million an increase of $13.3 million, or 13% compared to the first quarter of 2020
• Adjusted EBITDA margin of 39.3% compared to 34.8% for the quarter ended March 31, 2020
• Free Cash Flow totaled $18.3 million

"Our first quarter results included our 6th consecutive quarter of record HSD revenue up 12% from the same period last year to $152.7 million," said Teresa Elder, WOW!'s CEO. "I'm especially proud of how WOW!'s employees continue to put our customers and communities first in developing and supporting programs that ensure affordable broadband access."

"Our HSD revenue increased both, year-over-year and sequentially, driving our Adjusted EBITDA and Adjusted EBITDA margins higher as we continue to successfully execute our broadband-first strategy," said John Rego, WOW!'s CFO. "Our leverage ratio, another key metric that we are very focused on, also improved significantly, ending the quarter at 5.0x, reflecting the continued growth of Adjusted EBITDA."

GUIDANCE:

WOW! WideOpenWest Inc. sees Q2 2021 revenue of $280-283 million, versus the consensus of $280.86 million.

WOW! WideOpenWest Inc. sees FY2021 revenue of $1.118-1.121 billion, versus the consensus of $1.12 billion.

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