Cable One, Inc. Files Q3 2024 10-Q

TL;DR

Cable One dropped its Q3 10-Q. Financials look steady.

AI Summary

Cable One, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024 and provides financial details for the nine months ended September 30, 2024. Key financial statement information, including common stock, additional paid-in capital, and retained earnings, is presented for various periods.

Why It Matters

This filing provides investors with the latest financial performance and position of Cable One, Inc., crucial for understanding the company's health and making investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• Q3 2024 — Reporting Period (Covers the third quarter of the fiscal year.)
• 2024-09-30 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)
• 0001632127 — Central Index Key (Unique identifier for Cable One, Inc. with the SEC.)

Key Players & Entities

• Cable One, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-08 (date) — Filing date
• 2024-07-01 (date) — Start of the third quarter
• 2023-09-30 (date) — Prior year comparable period end

FAQ

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 CABO New York Stock Exchange Indicate

Filing Documents

• cabo-20240930.htm (10-Q) — 1764KB
• a2024q3-exhibit311.htm (EX-31.1) — 10KB
• a2024q3-exhibit312.htm (EX-31.2) — 10KB
• a2024q3-exhibit32.htm (EX-32) — 8KB
• cabo-20240930_g1.jpg (GRAPHIC) — 12KB
• 0001632127-24-000133.txt ( ) — 10231KB
• cabo-20240930.xsd (EX-101.SCH) — 62KB
• cabo-20240930_cal.xml (EX-101.CAL) — 101KB
• cabo-20240930_def.xml (EX-101.DEF) — 376KB
• cabo-20240930_lab.xml (EX-101.LAB) — 802KB
• cabo-20240930_pre.xml (EX-101.PRE) — 618KB
• cabo-20240930_htm.xml (XML) — 1706KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION 1 Item 1. Condensed Consolidated Financial Statements 1 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 40

: OTHER INFORMATION

PART II: OTHER INFORMATION 42 Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 42 Item 6. Exhibits 43

SIGNATURES

SIGNATURES 44 References herein to "Cable One," "us," "our," "we" or the "Company" refer to Cable One, Inc., together with its wholly owned subsidiaries. i Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This document contains "forward-looking statements" that involve risks and uncertainties. These statements can be identified by the fact that they do not relate strictly to historical or current facts, but rather are based on current expectations, estimates, assumptions and projections about our industry, business, strategy, acquisitions and strategic investments, market expansion plans, announced organizational changes, dividend policy, capital allocation, financing strategy, the purchase price payable if the put option associated with the remaining equity interests in Mega Broadband Investments Holdings LLC ("MBI") is exercised (the "Put Price") and the anticipated timeline to consummate such transaction, our ability and sources of capital to fund the Put Price, MBI's future indebtedness, our plans and intentions with respect to our remediation efforts to address the material weakness in our internal control over financial reporting and our financial results and financial condition. Forward-looking statements often include words such as "will," "should," "anticipates," "estimates," "expects," "projects," "intends," "plans," "believes" and words and terms of similar substance in connection with discussions of future operating or financial performance. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Our actual results may vary materially from those expressed or implied in our forward-looking statements. Accordingly, undue reliance should not be placed on any forward-looking statement made by us or on our behalf. Important factors that could cause our actual results to differ materially from those in our forward-looking statements include govern

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CABLE ONE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (dollars in thousands, except par values) September 30, 2024 December 31, 2023 Assets Current Assets: Cash and cash equivalents $ 226,641 $ 190,289 Accounts receivable, net 58,449 93,973 Prepaid and other current assets 49,980 58,116 Total Current Assets 335,070 342,378 Equity investments 1,000,011 1,038,024 Property, plant and equipment, net 1,790,759 1,791,120 Intangible assets, net 2,549,417 2,595,892 Goodwill 929,415 928,947 Other noncurrent assets 56,008 63,149 Total Assets $ 6,660,680 $ 6,759,510 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable and accrued liabilities $ 314,884 $ 156,645 Deferred revenue 25,959 27,169 Current portion of long-term debt 18,943 19,023 Total Current Liabilities 359,786 202,837 Long-term debt 3,468,818 3,626,928 Deferred income taxes 916,545 950,919 Other noncurrent liabilities 30,927 169,556 Total Liabilities 4,776,076 4,950,240 Commitments and contingencies (refer to note 15) Stockholders' Equity: Preferred stock ($ 0.01 par value; 4,000,000 shares authorized; none issued or outstanding) — — Common stock ($ 0.01 par value; 40,000,000 shares authorized; 6,175,399 shares issued; and 5,619,077 and 5,616,987 shares outstanding as of September 30, 2024 and December 31, 2023, respectively) 62 62 Additional paid-in capital 630,506 607,574 Retained earnings 1,830,417 1,761,667 Accumulated other comprehensive income (loss) 23,167 36,745 Treasury stock, at cost ( 556,322 and 558,412 shares held as of September 30, 2024 and December 31, 2023, respectively) ( 599,548 ) ( 596,778 ) Total Stockholders' Equity 1,884,604 1,809,270 Total Liabilities and Stockholders' Equity $ 6,660,680 $ 6,759,510 See accompanying notes to the condensed consolidated financial statements. 1 Table of Contents CABLE ONE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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View this 10-Q filing on SEC EDGAR