Altice USA Files Q3 2024 10-Q

TL;DR

Altice USA's Q3 10-Q is in. Check financials for latest performance.

AI Summary

Altice USA, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the company, which operates in the cable and pay television services industry. Specific financial figures and operational metrics for the third quarter and year-to-date periods are presented.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of Altice USA, crucial for understanding its market position and future prospects in the competitive telecom sector.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal significant financial or operational risks.

Key Numbers

• N/A — Revenue (Specific revenue figures for the quarter are not detailed in the provided header information.)
• N/A — Net Income (Specific net income figures for the quarter are not detailed in the provided header information.)
• N/A — Subscribers (Subscriber count changes are not detailed in the provided header information.)

Key Players & Entities

• Altice USA, Inc. (company) — Filer of the 10-Q report.
• 2024-09-30 (date) — End of the reporting period for the 10-Q.
• 2024-11-05 (date) — Date the 10-Q was filed.
• 4841 (number) — Standard Industrial Classification code for Cable & Other Pay Television Services.

FAQ

Key Financial Figures

• $0.01 — stered Class A Common Stock, par value $0.01 per share ATUS NYSE Indicate by check

Filing Documents

• atus-20240930.htm (10-Q) — 2399KB
• a9-30x24exhibit311.htm (EX-31.1) — 11KB
• a9-30x24exhibit312.htm (EX-31.2) — 11KB
• a9-30x24exhibit32.htm (EX-32) — 8KB
• atus-20240930_g1.jpg (GRAPHIC) — 16KB
• 0001628280-24-045072.txt ( ) — 10499KB
• atus-20240930.xsd (EX-101.SCH) — 57KB
• atus-20240930_cal.xml (EX-101.CAL) — 73KB
• atus-20240930_def.xml (EX-101.DEF) — 432KB
• atus-20240930_lab.xml (EX-101.LAB) — 589KB
• atus-20240930_pre.xml (EX-101.PRE) — 570KB
• atus-20240930_htm.xml (XML) — 1666KB

FINANCIAL INFORMATION 2

PART I. FINANCIAL INFORMATION 2

Financial Statements

Item 1. Financial Statements ALTICE USA, INC. AND SUBSIDIARIES Consolidated Financial Statements Consolidated Balance Sheets - September 30, 2024 (Unaudited) and December 31, 2023 2 Consolidated Statements of Operations - Three and nine months ended September 30, 2024 and 2023 (Unaudited) 3 Consolidated Statements of Comprehensive Income - Three and nine months ended September 30, 2024 and 2023 (Unaudited) 4 Consolidated Statements of Stockholders' Deficiency - Three and nine months ended September 30, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Cash Flows - Nine months ended September 30, 2024 and 2023 (Unaudited) 9 Combined Notes to Consolidated Financial Statements (Unaudited) 16 Supplemental Financial Statements Furnished: CSC HOLDINGS, LLC AND SUBSIDIARIES Consolidated Financial Statements Consolidated Balance Sheets - September 30, 2024 (Unaudited) and December 31, 2023 10 Consolidated Statements of Operations - Three and nine months ended September 30, 2024 and 2023 (Unaudited) 11 Consolidated Statements of Comprehensive Income - Three and nine months ended September 30, 2024 and 2023 (Unaudited) 12 Consolidated Statements of Member's Deficiency - Three and nine months ended September 30, 2024 and 2023 (Unaudited) 13 Consolidated Statements of Cash Flows - Nine months ended September 30, 2024 and 2023 (Unaudited) 15 Combined Notes to Consolidated Financial Statements (Unaudited) 16

Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk 51

Item 3. Quantitative and Qualitative Disclosures About Market Risk 51

Controls and Procedures 52

Item 4. Controls and Procedures 52

OTHER INFORMATION 53

PART II. OTHER INFORMATION 53

Legal Proceedings 53

Item 1. Legal Proceedings 53

Other Information 53

Item 5. Other Information 53

Exhibits 53

Item 6. Exhibits 53 SIGNATURES 54 1

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ALTICE USA, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts) September 30, 2024 (Unaudited) December 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 250,001 $ 302,058 Restricted cash 290 280 Accounts receivable, trade (less allowance for credit losses of $ 24,984 and $ 21,915 , respectively) 315,894 357,597 Prepaid expenses and other current assets ($ 575 and $ 407 due from affiliates, respectively) 299,148 174,859 Total current assets 865,333 834,794 Property, plant and equipment, net of accumulated depreciation of $ 8,671,638 and $ 8,162,442 , respectively 8,352,062 8,117,757 Right-of-use operating lease assets 231,255 255,545 Other assets 88,380 195,114 Amortizable intangibles, net of accumulated amortization of $ 6,114,684 and $ 5,874,612 , respectively 1,036,275 1,259,335 Indefinite-lived cable television franchises 13,216,355 13,216,355 Goodwill 8,044,716 8,044,716 Total assets $ 31,834,376 $ 31,923,616 LIABILITIES AND STOCKHOLDERS' DEFICIENCY Current Liabilities: Accounts payable $ 1,016,588 $ 936,950 Interest payable 291,497 274,507 Accrued employee related costs 172,150 182,146 Deferred revenue 85,289 85,018 Debt 273,804 359,407 Other current liabilities ($ 25,991 and $ 71,523 due to affiliates, respectively) 285,722 470,096 Total current liabilities 2,125,050 2,308,124 Other liabilities 265,284 221,249 Deferred tax liability 4,843,531 4,848,460 Right-of-use operating lease liability 244,220 264,647 Long-term debt, net of current maturities 24,778,868 24,715,554 Total liabilities 32,256,953 32,358,034 Commitments and contingencies (Note 15) Stockholders' Deficiency: Preferred stock, $ 0.01 par value, 100,000,000 shares authorized, no shares issued and outstanding — — Class A common stock: $ 0.01 par value, 4,000,000,000 shares authorized, 277,932,987 shares issued and 276,965,358 outstanding as of September 30, 2024 and 271,772,97

View Full Filing

View this 10-Q filing on SEC EDGAR