Charter may seek M&A deals
During the UBS Global Media and Communications Conference last week, Thomas Rutledge, Charter Communications’ (CHTR) chair and CEO, stated that the company would look to acquire more cable assets if they were available.
He added, “We’ve been buying a lot of our own stock back. Why? Because we think the cable business is a great business, and we haven’t been able to buy other cable assets in.”
Charter’s revenue and EPS trend
Charter reported third-quarter adjusted EPS of $1.36 on revenue of $10.9 billion compared to forecasts of adjusted EPS of $1.04 on revenue of $10.9 billion. It had adjusted EPS of $0.19 on revenue of $10.5 billion in the same period a year earlier.
In comparison, Comcast’s (CMCSA) revenue rose ~5% YoY (year-over-year) to $22.1 billion in the third quarter. In the integrated US telecommunications space, AT&T’s (T) revenue rose ~15.3% YoY to $45.7 billion, while Verizon’s (VZ) revenue rose ~2.8% YoY to $32.6 billion in the same quarter. Frontier Communications’ (FTR) revenue fell ~5.6% YoY to $2.1 billion.
Charter Communications’ (CHTR) closing price on December 12 was $316.78 per share.
Coca-Cola (KO) impressed investors with better-than-expected revenue and earnings for the first quarter.
Microsoft (MSFT) announced this month that it had acquired a San Diego startup called Express Logic for an undisclosed amount.
Spirit Airlines is scheduled to report its first-quarter results on April 25. The airline has an impressive record of beating earnings estimates.
On April 23 before the market opened, legacy motorcycle maker Harley-Davidson (HOG) reported its first-quarter earnings results.
Williams Companies (WMB) is scheduled to release its first-quarter earnings on May 1 after the market closes.
McDonald’s (MCD) is set to report its first-quarter earnings before the market opens on April 30.