Charter Communications (CHTR) Reports Q4 Loss of $1.09/Share

Charter Communications (NASDAQ: CHTR) reported Q4 EPS of ($1.09), versus ($0.44) reported last year. Revenue for the quarter came in at $2.51 billion, versus $2.86 billion reported last year.

Key highlights:

• As of December 31, 2015, Charter served 6.7 million residential and small and medium business ("SMB") customers. For the full year 2015, total residential and SMB customers grew by 352,000, or 5.6%.
• 2015 marks the first full year in over a decade in which Charter grew its total video customers, including 33,000 video net additions in the fourth quarter, and 11,000 for the full year 2015.
• For the full year 2015, residential primary service units ("PSUs") increased by 5.2%, while SMB PSUs increased by 19.4%, with fourth quarter 2015 residential and SMB PSU net additions growing year-over-year by 26.5% and 47.4%, respectively.
• Fourth quarter revenues of $2.5 billion grew 6.4% as compared to the prior-year period, driven by residential revenue growth of 7.2% and commercial revenue growth of 12.3%.
• Fourth quarter Adjusted EBITDA¹ grew by 7.5% year-over-year. Excluding transition costs of $22 million for Charter's pending transactions, fourth quarter Adjusted EBITDA grew by 8.4% year-over-year.
• Full year 2015 revenues increased 7.1% and Adjusted EBITDA rose 6.8%. Excluding transition costs for the pending transactions, 2015 Adjusted EBITDA increased 8.5%.
• Capital expenditures totaled $1.840 billion in 2015, down from $2.221 billion in 2014. Excluding transition capital expenditures for the pending transactions, 2015 capital expenditures totaled $1.725 billion.
• Full year 2015 free cash flow totaled $547 million, compared to $171 million during the prior-year, driven by higher Adjusted EBITDA and lower capital expenditures, partially offset by over $500 million of transition-specific operating expenses, capital expenditures and cash interest payments associated with transactions-related debt held in escrow.

For earnings history and earnings-related data on Charter Communications (CHTR) click here.

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