Altice USA (NYSE: ATUS) has reported its financial results for the fourth quarter and full year ended December 31, 2024. Here are the key financial and operational highlights:
Financial Overview: Total revenue for Q4 2024 was $2.2 billion, a decrease of 2.9% year over year, while full-year 2024 revenue was $9.0 billion, down 3.1% year over year. Residential revenue for Q4 2024 was $1.7 billion, reflecting a decrease of 5.6% year over year, and $6.9 billion for the full year, down 4.6% year over year. Business services revenue for Q4 2024 was $371.3 million, a decrease of 0.2% year over year, and $1.5 billion for the full year, an increase of 0.3% year over year. News and advertising revenue for Q4 2024 increased by 23.0% year over year, reaching $157.5 million, and $486.2 million for the full year, up 8.6% year over year. Net income attributable to stockholders was ($54.1) million in Q4 2024 and ($102.9) million for the full year 2024, compared to ($117.8) million in Q4 2023 and $53.2 million in full-year 2023. Adjusted EBITDA for Q4 2024 was $837.5 million, down 7.3% year over year, and $3.4 billion for the full year, down 5.4% year over year. * Cash capital expenditures for Q4 2024 increased by 32.1% year over year to $390.0 million, while full-year 2024 cash capital expenditures were $1.4 billion, down 15.9% year over year.
Operational Highlights: Altice USA achieved its highest ever fiber net additions, reaching 538k fiber customers, a 58% increase compared to the end of 2023. The company also saw its best mobile line net add performance in 5 years, adding 460k lines, a 43% increase in ending mobile lines compared to the end of 2023. Altice USA introduced new TV packages in 2024, driving more value and offering consumers more content flexibility. This supported an improvement in video gross add attachment rate to approximately 20% in Q4 2024, up over 200 basis points quarter over quarter. Total broadband net losses were 39k in Q4 2024, compared to 27k in Q4 2023, and 170k in full-year 2024, compared to 114k in full-year 2023. Optimum network expansion and multi-gig rollout included total passings additions of 54k in Q4 2024 and 210k in full-year 2024, reaching 9.8 million total passings and expanding Optimum's footprint by 2.1% in full-year 2024. Lightpath, a division of Altice USA, achieved its highest revenue of $414 million in full-year 2024, up 5.5% year over year.
2025 Priorities: * Altice USA's priorities for 2025 include improving broadband subscriber trends, increasing value-added services, growing mobile penetration, expanding the B2B product portfolio, and enhancing operational efficiency through the use of AI, digital, and self-service tools.
Balance Sheet Review: Altice USA's net debt for the restricted group was $23,241 million at the end of Q4 2024, representing net leverage of 7.4x L2QA. The consolidated net debt for Altice USA was $24,644 million, representing consolidated net leverage of 7.3x L2QA at the end of Q4 2024.
These figures and metrics reflect Altice USA's financial and operational performance for the specified periods, showcasing its progress and strategic priorities. The market has reacted to these announcements by moving the company's shares 2.8% to a price of $2.79. For the full picture, make sure to review Altice U's 8-K report.
