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WideOpenWest, Inc. (WOW) operated as WOW! Internet, TV & Phone, a U.S. broadband provider serving residential, business and wholesale customers across markets primarily in the Midwest and Southeast. Company updates centered on high-speed Internet, cable TV, home phone, mobile phone, business data, voice and cloud services, along with expansion of all-fiber greenfield networks in Florida, Michigan and South Carolina.
Recurring news categories included operating and financial results, subscription revenue and ARPU trends, broadband customer metrics, network expansion milestones, community partnerships and capital-structure or governance developments. Later corporate-status updates documented the completed merger transaction, the cessation of NYSE trading in WOW common stock and related delisting and deregistration steps.
On November 16, 2022, WOW! Internet, Cable & Phone (NYSE: WOW) announced that its executives received high rankings in the 2023 All-America Executive Team by Institutional Investor. CEO Teresa Elder was ranked #2, CFO John Rego at #2, and VP Andrew Posen ranked #3 for Best IR Professional. The company has been recognized alongside 31 peers for its effective investor relations program, leadership, and ESG strategies. WOW! continues to focus on market expansions, debt reduction, and employee development, affirming its commitment to growth and stakeholder value.
WOW! Internet, Cable & Phone (NYSE: WOW), a key broadband provider in the U.S., will participate in the RBC Capital Markets 2022 Technology, Internet, Media and Telecommunications Conference. CFO John Rego is scheduled for a fireside chat on November 15, 2022, at 4:20 PM ET. The event will be available via live webcast on the company's Investor Relations website. WOW! serves 1.9 million consumers across 14 markets, focusing on high-speed internet, cable TV, and phone services, and has received accolades for its workplace culture.
WideOpenWest, Inc. (WOW) reported Q3 2022 revenue of $173.7 million, down 6% YoY, with HSD revenue decreasing 1% to $102.3 million. Net income was $0.5 million, a significant drop from $517.9 million in Q3 2021, resulting in a net profit margin of 0.3%. Pro Forma Adjusted EBITDA rose 3% to $68.5 million, boosting the EBITDA margin to 39.4%. The Board authorized a $50 million share repurchase program over 18 months. Total subscribers increased by 6,500, totaling 538,100, while capital expenditures decreased by $3 million to $37.7 million, marking 22% of total revenue.
WOW! Internet, Cable & Phone (NYSE: WOW) has begun construction on its first Greenfield market in Altamonte Springs, Florida. This expansion aims to meet the increasing demand for fast, reliable broadband, introducing an all-IP fiber network to the region. WOW! will provide symmetrical Internet speeds of up to 5 Gigs and additional services such as Whole-Home WiFi, TV, and phone plans. The company is also committed to community engagement, exemplified by a recent $45,000 donation to a local school. This move is part of WOW!'s larger growth strategy in Central Florida.
WOW! Internet, Cable & Phone (NYSE: WOW) expands its services to Headland, Alabama, enhancing its fiber network capabilities. This initiative enables local residents to access symmetrical Internet speeds of up to 5 Gig, facilitating uninterrupted streaming and video conferencing. The company aims to deliver reliable and affordable broadband options, alongside its range of services including Whole-Home WiFi and mobile plans. CEO Teresa Elder emphasizes WOW!'s commitment to providing excellent customer service and competitive Internet options in underserved communities.
WOW! Internet, Cable & Phone (NYSE: WOW) will hold a webcast and conference call on November 3, 2022, at 8:00 a.m. ET to discuss its third-quarter 2022 financial results. A news release with results will be issued earlier that day. The call can be accessed via the company's investor relations site or by phone. A replay will be available post-call until November 17, 2022. WOW! serves approximately 1.9 million consumers in 14 markets across the U.S., focusing on delivering high-speed internet and cable services.
WOW! Internet, Cable & Phone (NYSE: WOW) has donated $45,000 to Goldsboro Elementary Magnet School in Sanford, Florida, to enhance the technology and simulation software of its Kids Space Center. This initiative is part of WOW!'s ongoing commitment to investing in the community as they prepare to launch services in Central Florida. The donation will update the Space Center's mission control, experiment bays, and software, supporting STEM education. WOW!'s CEO, Teresa Elder, emphasized the importance of community involvement in education.
On October 12, 2022, WOW! Internet, Cable & Phone (NYSE: WOW) announced a $30,000 donation to the American Red Cross for Hurricane Ian relief efforts in Florida. This support aims to aid shelters and emergency services in areas like Pinellas County and Tampa, which faced severe storm impacts, including flooding and power outages. WOW! is committed to assisting local communities during the long recovery process.
WOW! Internet, Cable & Phone (NYSE: WOW) released its inaugural 2022 ESG/Sustainability Report, emphasizing its commitment to environmental stewardship and community support. The report highlights strategies such as fleet optimization to reduce CO2 emissions by 26.4% in 2021, energy-efficient solutions, and a 59% decrease in real estate footprint. WOW! also promotes employee well-being and community engagement through initiatives like scholarships and volunteer programs. The company is recognized for its corporate governance, with a diverse board and strong compliance measures.
WideOpenWest reported total revenue of $176.1 million for Q2 2022, a 3% decrease year-over-year. High-Speed Data (HSD) revenue rose to $102.6 million, up 4%. Net income fell to $4.0 million, yielding a net profit margin of 2.3%, down from 4.3% a year ago. Pro Forma Adjusted EBITDA reached a record $70.6 million, increasing 10% from last year, with a margin of 40.1%. Subscriber growth continued, with 2,200 new HSD RGUs. The company aims to boost HSD revenue between $415.0 million and $419.0 million for the full year.