Charter Communications, trading under the ticker $CHTR, experienced a significant stock price drop following its Q4 earnings report, which revealed a surprising loss in broadband subscribers and a profit miss. The company's stock plunged to a 52-week low, hitting $71.57, down 14.9% from the previous day's close, before slightly recovering to $73.35. The stock further dropped to $350, was down 9.2% pre-market, and fell early to $340, with the plunge worsening by the end of the trading day, culminating in a 16.51% loss. The earnings report showed an adjusted EPS of $7.07, missing estimates of $8.81, though revenue was nearly in line with expectations at $13.71 billion. Charter lost 257,000 video subscribers in the fourth quarter, partly due to a dispute with Disney. Despite these losses, Charter ended 2023 as the largest U.S. pay-TV operator, surpassing Comcast. The company's Q4 results also indicated a 3.0% increase in Internet revenues, a 36% rise in Mobile Service revenue, and a flat total Residential revenue, with total revenue up by 0.3%. Adjusted EBITDA increased by 1.6% for the quarter and 1.3% for the full year. The company's full-year free cash flow was reported at $3.49 billion, down from $6.10 billion the previous year. Charter's CEO Chris Winfrey commented on the challenges of internet growth within their existing footprint and expects a return to 'more normalized growth' in broadband subscribers over time.
Live footage of $CHTR CEO Chris Winfrey describing his 2024 EBITDA forecast. https://t.co/GiGUxqxcxl
Charter communications CHTR -16.51% loss: slow decline in pay-TV subscribers https://t.co/nqV81KFyuW https://t.co/JYK5ILxgNv
Why Spectrum parent Charter’s stock just had the worst day in its history https://t.co/yjccB5CjQh
Christopher Winfrey, CEO of Charter did a terrific job summing bull case for $CHTR: "Fixed wireless access. While an inferior product with limited capacity in geographic coverage, which is fluid, is often marketed by the phone companies at a perceived lower price to their…
Disaster Of The Day: Charter Communications $CHTR @LukeJacobi and @aaronbry5 explain why: https://t.co/oYudwei5qP
this sums up bull case for Charter by Chris Winfrey ($CHTR's CEO): "Fixed wireless access. While an inferior product with limited capacity in geographic coverage, which is fluid, is often marketed by the phone companies at a perceived lower price to their existing customers. We…
Charter Stock Plunge Worsens By End Of Trading Day After Quarterly Earnings Miss, Surprising Broadband Losses https://t.co/qtmx4YbJI8
Timely Comcast (Cable) discussion given the Charter earnings report today https://t.co/kyPJXdvUdz
Charter Communications posts surprise broadband subscriber loss, profit miss https://t.co/1k4ZvEdREw https://t.co/sMX6zhAueC
Charter Communications just became the nation’s biggest pay-TV company by subscribers. Its secret? Losing customers more slowly than its rivals. https://t.co/m14k8Czz47 https://t.co/m14k8Czz47
Charter Communications Falls as Loss of Internet Customers Hits the Stock https://t.co/uZ7QlXglRG
Charter Stock Plunges After Quarterly Earnings Miss, Surprising Broadband Losses https://t.co/qtmx4YbJI8
$CHTR down to 340 early https://t.co/CkJ3brwfHi
Charter expects to return to "more normalized growth" in broadband subscribers over time, but its CEO admits: "Internet growth in our existing footprint has been challenging" https://t.co/zG37UbY5qO
Charter $CHTR shares down 9.2% pre-market We were wrong to keep it Buy-rated, but at least we took it out of our model portfolio in Sep-23 Shares were ~$420 then; now 17% down at ~$347 https://t.co/d3XjUQLueH https://t.co/gtV1NCiV1a
Charter $CHTR 23Q4 results Q4 Internet revenues +3.0%, Mobile Service rev. +36% (Internet net loss -61k, vs. net add PY +105k) (Internet subs. +0.5% y/y) Total Residential revenues flat, total revenue +0.3% Adj. EBITDA +1.6% FY Adj. EBITDA +1.3% FY23 FCF $3.49bn (PY: $6.10bn) https://t.co/FPVdml61Ak
$CHTR (-8.6% pre) Charter's (NASDAQ:CHTR) Posts Q4 Sales In Line With Estimates But Stock Drops https://t.co/8fCBURgb0U
Charter Communications ended 2023 as the largest U.S. pay-TV operator as it lost fewer video subscribers in the fourth quarter than Comcast. https://t.co/dtqnEHXPCO
$CHTR whacked down to $350! https://t.co/L2aLGf47qe
Updated the final chart to include Charter's Q4 wireless results https://t.co/DM2Yomcqpp https://t.co/wrTo1Vz057
Charter shareholders be like: “Oh yeah!? Just wait for 2027. You’ll see. Just you wait.” $CHTR https://t.co/wI0qNgpArM
Charter Loses 257K Video Subs in Fourth Quarter, "Partly Driven" by Disney Dispute https://t.co/i6wppGZPda
$CHTR | Charter Communications Q423 Earnings: - Adj EPS: $7.07 (est $8.81) - Revenue: $13.71B (est $13.70B)
Verdict on earnings at $CHRW has been swift and savage. It hit a 52-wk low at $71.57 today. It was $89.71 as recently as Jan 5. Stock hasn't been this low since May '20. At its nadir today it was down 14.9% from Wed close. It popped back to $73.35 by 3:45 pm EST. #trucking https://t.co/0asTFz3Vzd