Telecommunications and cable services provider Altice USA (NYSE: ATUS) will be reporting results tomorrow before market open. Here’s what you need to know.
Altice met analysts’ revenue expectations last quarter, reporting revenues of $2.24 billion, down 2.9% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income and EPS estimates. It reported 4 million broadband subscribers, down 4.1% year on year.
Is Altice a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Altice’s revenue to decline 4.1% year on year to $2.16 billion, a further deceleration from the 1.9% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Altice has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Altice’s peers in the wireless, cable and satellite segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Comcast posted flat year-on-year revenue, meeting analysts’ expectations, and AT&T reported revenues up 2%, topping estimates by 1%. Comcast traded down 1.5% following the results while AT&T was up 2.1%.
Read our full analysis of Comcast’s results here and AT&T’s results here.
There has been positive sentiment among investors in the wireless, cable and satellite segment, with share prices up 12.7% on average over the last month. Altice is up 19.9% during the same time and is heading into earnings with an average analyst price target of $2.83 (compared to the current share price of $2.65).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
