Altice Usa Stock Price, News & Analysis

Rachel Stack, the newly appointed CFO of Lightpath, is set to participate in a panel discussion at the TMT M&A Forum USA 2024 on September 25-26, 2024, in New York City. The panel, titled 'Fiber Leaders: When Will the Wave of Consolidation Hit?', will explore the anticipated consolidation in the fiber industry expected in 2025.

Stack brings 25 years of experience in digital infrastructure to Lightpath, an all-fiber connectivity provider. The forum, organized by TMT Finance, will feature over 40 sessions, 100+ speakers, and 650+ attendees, focusing on digital infrastructure investment and M&A strategies. Key topics include financing structures, strategies to close the digital divide, the BEAD Program rollout, and open access models in the fiber market.

Altice USA (NYSE: ATUS) has announced that its Chairman and CEO, Dennis Mathew, and CFO, Marc Sirota, will be presenting at the 2024 Bank of America Securities Media, Communications and Entertainment Conference. The event is scheduled for Wednesday, September 4, 2024, at 1:10 p.m. Eastern Time in New York.

Investors and interested parties can access a live webcast of the presentation through the Altice USA investor relations website or via a provided link. This presentation offers an opportunity for stakeholders to gain insights into Altice USA's strategies and performance directly from its top executives.

Altice USA (NYSE: ATUS) has announced that its Chairman and CEO, Dennis Mathew, will participate in a fireside chat at the 2024 Goldman Sachs Communacopia + Technology Conference in San Francisco. The event is scheduled for Tuesday, September 10, 2024, at 10:50 a.m. Pacific Time (1:50 p.m. Eastern Time).

Investors and interested parties will have the opportunity to watch the fireside chat through a live webcast available on the Altice USA investor relations website. This participation in a major technology conference suggests that Altice USA is actively engaging with investors and showcasing its strategies and outlook in the telecommunications industry.

Lightpath, an all-fiber connectivity provider, has appointed Rachel Stack as Chief Financial Officer. With over 25 years of experience, Stack joins from Cologix where she served as CFO. Her responsibilities at Lightpath will include overseeing corporate finance, accounting, financial planning, treasury, tax, and internal audit. She will also manage corporate development, strategy, and capital markets planning.

Stack's previous roles include Senior Vice President of Corporate Strategy and Development at Zayo Group Holdings and investment banker at RBC Capital Markets. CEO Chris Morley praised Stack's industry experience and leadership qualities, stating she will help formulate and execute the company's strategic plan. Stack expressed excitement about joining Lightpath, highlighting the company's execution and investments towards becoming a top U.S. fiber infrastructure business.

Altice USA (NYSE: ATUS) reported Q2 2024 results, highlighting a revenue of $2.2 billion, a 3.6% decline YoY. Residential revenue fell by 4.4%, while business services saw a minor increase of 1.3%. ARPU declined by 1.1% to $135.95. The company saw a net income of $15.4 million, a significant drop from $78.3 million in Q2 2023. Adjusted EBITDA was $867.2 million, down 5.9% YoY.

Operational highlights include a 40k increase in fiber net additions and a 33k increase in mobile line net additions. Optimum's new low-cost internet TV package, Entertainment TV, launched in July 2024. Capital expenditures were $347.7 million, marking a 26.6% decrease YoY.

Despite network quality recognition, the company faces challenges with a net loss of 51k broadband subscribers and a 7.2x consolidated net leverage. The company aims to reach 3 million fiber passings by year-end and continues to focus on operational improvements and financial discipline.

Optimum has launched Entertainment TV, a new internet TV package exclusively available on Optimum Stream. Priced at $30/month, it offers 80+ top-rated channels including A&E, AMC, Comedy Central, and more. The service is expanding to nearly 1.5 million more homes across Optimum's West footprint, covering Arkansas, Arizona, Louisiana, North Carolina, and Texas.

Entertainment TV is designed to provide a low-cost, high-quality entertainment solution for customers seeking a relaxed viewing experience. It includes access to live TV, On Demand content, and Optimum's News 12 service. This launch is part of Optimum's strategy to enhance its TV offerings and provide customers with flexible, innovative packages tailored to their viewing habits.

Altice USA (NYSE: ATUS) will host a conference call on Thursday, August 1, 2024, at 8:30 a.m. ET to discuss its financial and operating results for Q2 2024, which ended on June 30, 2024. A press release with these results will be released earlier that day at 7:00 a.m. ET. The call will be led by Dennis Mathew, Chairman and CEO, and Marc Sirota, CFO. Dial-in numbers for the call are 877-404-9653 (US) and +1 201-689-8856 (International). Additionally, a live webcast of the call will be available on the company's investor relations website.

MiCTA, a national non-profit group purchasing organization, has named Lightpath an approved vendor for connectivity services, including Internet, Ethernet, Wavelengths, Dark Fiber, Private Networks, Voice, and managed services. This selection allows MiCTA members to purchase these services at a discount through a Master Service Agreement. Lightpath was chosen through a competitive screening process, noted for its quality service in education, government, and healthcare sectors. The agreement offers significant cost savings to MiCTA members and eliminates the need for individual RFPs, benefiting public sector and non-profit organizations.

Lightpath has signed a definitive agreement to acquire most of United Fiber and Data (UFD) assets. This acquisition includes a 323-route mile, high-fiber count network between New York City and Ashburn, VA, and a 79-route mile metro network in NYC and New Jersey. The deal, subject to regulatory approvals, is expected to close in Q3 2024. The acquisition will expand Lightpath's serviceable market in Manhattan by over 20%, connecting to 1,500 enterprise and data center destinations. The combined network will enhance high-capacity services and geographic diversity, benefiting Lightpath's enterprise, hyperscale, and wholesale customers. UFD customers will gain access to Lightpath's entire network and services.