Telecommunications and cable services provider Altice USA (NYSE:ATUS) will be reporting earnings this Thursday morning. Here’s what to expect.
Altice met analysts’ revenue expectations last quarter, reporting revenues of $2.15 billion, down 4.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ adjusted operating income estimates. It reported 3.96 million broadband subscribers, down 4.3% year on year.
Is Altice a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Altice’s revenue to decline 3.9% year on year to $2.15 billion, in line with the 3.6% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Altice has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Altice’s peers in the wireless, cable and satellite segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Verizon delivered year-on-year revenue growth of 5.2%, beating analysts’ expectations by 2.3%, and Comcast reported revenues up 2.1%, topping estimates by 1.8%. Verizon traded up 5.3% following the results while Comcast’s stock price was unchanged.
Read our full analysis of Verizon’s results here and Comcast’s results here.
Investors in the wireless, cable and satellite segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Altice is up 9% during the same time and is heading into earnings with an average analyst price target of $2.88 (compared to the current share price of $2.42).
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