Welcome to our dedicated page for Cable One news (Ticker: CABO), a resource for investors and traders seeking the latest updates and insights on Cable One stock.
Cable One, Inc. reports news around its broadband communications business, which provides residential and business data, video and voice services through the Sparklight brand. Recurring updates cover operating results, subscriber trends, average revenue per unit, adjusted EBITDA, cash flow, capital expenditures and the performance of residential data, residential video and business data services.
Company news also includes Sparklight product expansion, such as prepaid wireless service for Sparklight internet customers, intelligent Wi-Fi offerings powered by eero Wi-Fi 7, IPTV/video services, voice services and advertising revenue tied to video channels. Corporate updates may cover conference-call notices, inducement equity awards and other governance developments.
Cable One, Inc. (NYSE:CABO) held its 2021 annual meeting where Thomas S. Gayner failed to secure a majority vote and submitted a resignation offer. The Board rejected the resignation, contingent upon Gayner reducing his board commitments by March 31, 2022. The decision was influenced by feedback from stockholders and concerns over 'overboarding' policies affecting voting outcomes. Cable One plans to amend its Supermajority Vote Requirement and enhance stockholder engagement for the 2022 meeting.
Cable One (NYSE: CABO) has appointed Todd M. Koetje as Senior Vice President, Business Development & Finance, effective September 1, 2021. Koetje brings over 20 years of expertise in capital markets and telecom from Truist Securities, where he was Managing Director. His role involves the development and oversight of investment and financial activities. Julie Laulis, CEO of Cable One, expressed confidence that Koetje's extensive experience will significantly contribute to the company's growth and mission of connecting communities.
Cable One reported a robust second quarter for 2021, with total revenues of $401.7 million, marking a 22.4% increase year-over-year, driven by a 26.6% rise in residential data revenues. Net income surged to $106.2 million, up 69.7% from the previous year. Adjusted EBITDA rose 30.7% to $213.2 million, while operating cash flow increased by 19.5% to $183.6 million. The Hargray acquisition contributed to these gains, as residential data PSUs grew by 21.7% year-over-year. However, total debt rose to $3.9 billion.
Cable One, Inc. (NYSE: CABO) will hold a conference call on August 9, 2021, at 5 p.m. ET to discuss its second-quarter financial results. A press release detailing these results will be issued after market close on the same day. The call will be available via a live audio webcast on the Cable One Investor Relations website or by dialing in at 1-844-378-6483. A replay of the call will be accessible from August 9 to August 23, 2021. Cable One serves over 1.1 million customers across 24 states through its Sparklight and Clearwave brands.
The Board of Directors of Cable One (NYSE: CABO) has declared a quarterly cash dividend of $2.50 per share. This dividend will be payable on June 18, 2021, to stockholders recorded by the close of business on June 1, 2021. Cable One serves over 1.1 million customers across 24 states, offering broadband and entertainment services through its Sparklight and Clearwave brands.
Cable One (NYSE: CABO) reported a 6.2% revenue increase to $341.3 million for Q1 2021, driven by an 18.5% rise in residential data revenues. Net income fell 1.1% to $68.6 million, while adjusted EBITDA grew 14.4% to $180.4 million. The company experienced a net cash increase of 38.4%, totaling $164.0 million. Following a $575 million convertible notes offering, Cable One secured an $800 million term loan for its acquisition of Hargray Communications, valued at $2.2 billion. The company had $1.5 billion in cash and a debt of $3.1 billion by end of March 2021.
Cable One (NYSE: CABO) has completed its acquisition of all equity interests in Hargray Acquisition Holdings, expanding its reach into key Southern markets, including Alabama, Florida, Georgia, and South Carolina. Hargray, a prominent regional communications provider, serves nearly 125,000 customers, with 60% of its revenue coming from residential and business services. This strategic move aims to enhance Cable One's service offerings and customer base while leveraging Hargray's established reputation for customer support.
Cable One, Inc. (NYSE: CABO) announced preliminary financial results for Q1 2021, estimating revenues between $335 million and $341 million and net income between $65 million and $69 million. The company expects Adjusted EBITDA to range from $176 million to $180 million. In addition, residential data subscribers grew by approximately 22,000 sequentially. Cable One plans to use proceeds from proposed new loans to refinance Hargray Communications, part of an acquisition valued at $2.2 billion.
Cable One, Inc. (NYSE: CABO) will hold a conference call on May 6, 2021, at 5 p.m. ET to discuss its first-quarter financial results. A press release with the results will be issued after market close on the same day. Investors can access the call via live audio webcast on the Cable One Investor Relations website or by dialing the provided phone numbers. A replay will be available until May 20, 2021. Cable One serves over 950,000 customers in 21 states, offering high-speed internet and cable services through its Sparklight and Clearwave brands.
Cable One, Inc. (NYSE: CABO) announced the appointment of Megan M. Detz as Senior Vice President, Human Resources. Detz brings over 20 years of experience in the IT services sector and previously held senior roles at Hargray Communications, VARIDESK, and NTT DATA, Inc. She will oversee HR operations, including talent acquisition and Diversity, Equity and Inclusion initiatives. The company is expected to finalize its acquisition of Hargray in Q2 2021, enhancing its strategic growth.