Quarterly ResultMay 7, 2026, 07:32 AM
Optimum Q1 Net Loss ($2.88B) due to impairment; Revenue $2.07B
AI Summary
Optimum Communications reported a net loss attributable to stockholders of ($2,884.1) million, or ($6.10) per diluted share, for the first quarter ended March 31, 2026. This significant loss was primarily driven by a $2.7 billion non-cash impairment charge related to indefinite-lived cable franchise rights. Total revenue for the quarter decreased 4.0% year-over-year to $2.07 billion. Despite the net loss, the company highlighted operational improvements including its strongest mobile line net additions in six years with +52k, year-over-year Adjusted EBITDA margin expansion to 38.2%, and improved video margin and churn. The company also completed significant refinancing activities during the quarter.
Key Highlights
- Net loss attributable to stockholders was ($2,884.1) million (($6.10)/share diluted) in Q1 2026, compared to ($75.7) million in Q1 2025.
- The net loss includes a non-cash impairment charge of $2.7 billion related to indefinite-lived cable franchise rights.
- Total revenue was $2.07 billion in Q1 2026, a 4.0% decrease year-over-year.
- Adjusted EBITDA was $789.0 million (-1.3% year-over-year), with a margin of 38.2% (+110 bps year-over-year).
- Mobile line net additions were +52k in Q1 2026, marking the strongest quarterly performance in six years.
- Total broadband primary service units (PSUs) net losses were -64k in Q1 2026.
- Net cash flows from operating activities were $170.3 million (-9.2% year-over-year).
- Consolidated net debt was $25,488 million, with consolidated net leverage of 7.5x L2QA.