Cincinnati Bell (CBB) Tops Q1 EPS by 32c, Revenues Beat
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Go back to Cincinnati Bell (CBB) Tops Q1 EPS by 32c, Revenues Beat
May 5, 2020 6:28 AM EDT
HIGHLIGHTS
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...
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