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Charter Communications Earnings Call Transcript

By August 30, 2020 No Comments


Additionally, with our inside out strategy, we will continue to use and develop small wireless cells powered by our network, together with our MVNO to connect customers in and beyond the home, delivering our throughput and economics for customers in fixed, nomadic and mobile environments.Moving back to Q2 results. Do you think that will -- could translate into higher churn in 3Q?

Our first quarter results were strong and reflect where we were heading as a company before the COVID-19 crisis started here in the U.S. Our residential customer relationship net additions increased versus the prior year in each month of the first quarter, and we were driving increasingly efficient operations given our customer friendly operating strategy and growing our free cash flow quickly.Residential revenue grew by 4.2% in the quarter, primarily driven by accelerating relationship growth in similar PSU bundled and video mix trends we’ve been seeing over several quarters. The second offer or customer category in the addendum reflects customers who participated in our Keep Americans Connected Pledge to the FCC. And the 50% that bought video or voice from us or mobile went through the normal credit check process that all customers go through. Over 90% of these customers are on our flagship speed tier or higher.

We were already fairly down — far down the road in the customer self service model, and we were fortunate when we got hit with what we did, and with the marketing tactics that we employed, that we were able to actually deal with it, because we had started the quarter in the 55% range, I think of self-installation and and we were about at 70%, when everything changed, and we’re over 90% now of self-installation.

It’s a little bit confused by the volume that we’re currently under. If it does, we would expect lower activity for both new sales and churn.

Go ahead please. We serve approximately 2 million SMB customers and many of those customers are currently closed at least temporarily. Charter Communications Inc (CHTR) Q2 2020 Earnings Call Transcript CHTR earnings call for the period ending June 30, 2020. The presentation that accompanies this call can be found on our website, ir.charter.com, under the Financial Information section.Before we proceed, I would like to remind you that there are a number of risk factors and other cautionary statements contained in our SEC filings, including our most recent 10-K and also our 10-Q filed this morning. [Operator Instructions]. We will always evaluate the best use of our capital to generate long-term returns for shareholders, be it organic investments such as the launch of our mobile or network edge-outs, purchasing someone else's shares or our own and probably in that order in terms of preference. And that continues to improve.

| Source: Seeking Alpha Charter Communications, Inc. (CHTR) CEO Tom Rutledge on Q4 2019 Results - Earnings Call Transcript

And it's -- the activity levels in the second quarter were similar to what they were planned for and what they were in the first quarter. We’re all proud of how we’re serving our customers at this time. I'll be referencing various COVID-related items, which we've laid out on Slide 9 of today's presentation.

Other than some of the local news that we’ve expanded to organically and that makes a lot of sense for us, and particularly in this environment, it has been a big asset. ET.

SMB has held up better than we expected, and we're currently selling more year-over-year, again, tied to how the economy and stimulus develops.In enterprise, business has been slow. | Source: The Street Time Warner Cable's (TWC) CEO Rob Marcus on Q4 2015 Results - Earnings Call Transcript Jan. 28, 2016 | Price: Free! And at the peak, there were over 200,000 who would have been disconnected under our normal collection practices.In an effort to assist COVID-19 impacted customers with overdue balances, we waived $85 million of receivables, which was recorded as a reduction of revenue in the second quarter.

No, not attached to any of these programs. But what we've done over the past year hasn't been a big driver for our broadband net add growth. Clearly, it would’ve inside of Q1 year-over-year and given that we do expect — once we get beyond April, April has been a high activity month. That hasn’t been the case today.

The second would be to acquire other companies which have a better rate of return than buying back your own stock. Please go ahead.Good morning and welcome to Charter’s first quarter 2020 Investor Call. Tom for you, you mentioned that the importance of the sort of the secular trends in sports haven’t changed. In today’s materials, we provided an addendum showing customer counts for each of these. And excluding our investment in mobile, we generated $2.1 billion of cable free cash, up about $700 million versus last year's second quarter. As a result, SMB customer growth and revenue growth will be lower than our previous expectations. Over 90% of them are in a flagship product. I think in the assets that we have, the ability to deploy small cells, the attractive MVNO that we have, we haven’t found a scenario that made a whole lot of sense for us or for the industry.There are cases that we can take a look at to accelerate growth, whether that’s in enterprise or whether that’s in wireless technology, where we’ve made some minority and some joint investments with Comcast.

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