Altice Usa Stock Price, News & Analysis

Altice USA (NYSE: ATUS) has completed its review of strategic alternatives for its Suddenlink business. The Board of Directors has unanimously decided to continue operating Suddenlink, believing this aligns with the company's long-term business plan and serves the best interests of its stockholders. Altice USA is a leading provider of broadband and video services in the U.S., serving nearly 5 million customers through its Optimum brand and offering advanced advertising solutions via its a4 business.

Lightpath has appointed Inge Smidts, John Ghirardelli, and Nick Brown to its Board of Managers, effective October 19, 2022. Smidts brings over 20 years of experience in the communications sector, currently serving as CEO of Cable and Wireless. Ghirardelli has nearly two decades in digital infrastructure with Morgan Stanley Infrastructure Partners, while Brown has extensive experience in communications and finance, currently EVP at Altice USA. Lightpath operates an extensive all-fiber network across the Northeast United States, supported by Altice USA's 50.01% ownership.

Lightpath has achieved a remarkable score of 96 and a 5-Star Rating in the 2022 GRESB Infrastructure Asset Benchmark Report, ranking first among private data transmission companies in the Americas. This score is significantly above the industry average of 79. The GRESB assessment evaluates environmental, social, and governance (ESG) performance, and Lightpath's score underscores its commitment to these objectives. CEO Chris Morley stated that the company will continue to prioritize ESG initiatives, benefiting both the organization and the wider community.

Altice USA (ATUS) reported Q3 2022 results with total revenue of $2.39 billion, down 7.0% YoY. Notably, Residential revenue declined 4.4%, while Business Services and News & Advertising revenues fell 16.8% and 16.1% respectively. Net income attributable to stockholders dropped to $85 million ($0.19/share) from $267 million ($0.58/share) a year prior. Fiber broadband net additions surged to 31k, reaching 135k total fiber customers. The company continues its fiber deployment strategy, achieving 1.9 million fiber passings despite macroeconomic pressures. Capital expenditures rose 59.6% YoY to $494 million.

Lightpath announced its entrance into the Miami market, launching a 135-mile all-fiber network. A 55-mile subterranean network will be operational by January 2023, with additional expansions planned. This initiative follows Lightpath's successful expansion into Boston in June 2021. The company aims to provide robust connectivity, leveraging its existing network of over 20,000 route miles and catering to over 13,500 service locations.

Altice USA (NYSE: ATUS) will hold a conference call on November 2, 2022, at 4:30 p.m. EDT to discuss its Q3 financial results for the period ending September 30, 2022. A press release will precede the call at 4:05 p.m. EDT. The call will feature leadership including Dexter Goei, Dennis Mathew, and Michael Grau. Interested parties can access the live webcast on Altice's investor relations website.

Altice USA serves nearly 5 million customers across 21 states with broadband and video services.

Lightpath has launched a new 54-mile all-fiber network in Princeton, NJ, marking its entry into this competitive market. The network is operational and available to over 400 target customers. With access to a comprehensive portfolio of connectivity solutions and the Lightpath network of 20,000 route miles, Princeton-area customers can leverage services such as Optical Transport, Ethernet, and SD-WAN. This expansion aims to strengthen Lightpath's presence in a region known for its vibrant startup culture and large enterprises.

Altice USA has appointed Dennis Mathew as CEO, effective October 3, 2022, succeeding Dexter Goei, who becomes Executive Chairman. Mathew brings 17 years of experience from Comcast, where he led significant organizational improvements and customer experience initiatives. The leadership change aims to enhance Altice USA's strategic growth, particularly in fiber broadband deployment. Founder Patrick Drahi expressed confidence in Mathew's ability to lead the company's vision and maintain momentum in providing advanced connectivity services.

Lightpath, a connectivity provider, announced a new 70+ mile fiber network build connecting Trumbull and Norwalk, CT, to Katonah, NY. This expansion enhances their next-generation network in western Connecticut, which boasts a skilled talent ecosystem and 14 Fortune 500 companies. The upgrade is part of Lightpath's ongoing investment in the region, aiming to support digital transformation for enterprises. Their network now exceeds 20,000 route miles with over 13,500 service locations.