Cincinnati Bell (CBB) Tops Q1 EPS by 32c, Revenues Beat
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Cincinnati Bell Reports First Quarter 2020 Results
May 5, 2020 6:28 AM EDTHIGHLIGHTS
Cincinnati Bell entered into a merger agreement with Macquarie Infrastructure Partners ("MIP") to be acquired for $2.9 billion transaction price represents a 101% premium to the closing price on December 20, 20191 Revenue totaled $380 million, consistent with the prior year Operating loss of $20 million, includes the $25 million break-up fee paid in connection with the termination of Cincinnati Bells previously announced merger agreement with Brookfield Adjusted EBITDA2 increased 4% year-over-year, totaling $102 million Cash provided by operating activities totaled $29 million with free cash flow3 of $12 million Entertainment and Communications revenue totaled $244 million, generating Adjusted... More