Liberty Broadband Corporation (LBRDK) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 4, 2022 11:15 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Welcome to the Liberty Broadband Corporation 2022 Third Quarter Earnings Call. During the presentation, all participants will be in a listen-only mode. Afterwards we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded, November 4th.

I would now like to turn the conference over to Courtnee Chun, Chief Portfolio Officer. Please go ahead.

Courtnee Chun

Thank you. Before we begin, we'd like to remind everyone that this call includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in most recent Forms 10-K and 10-Q filed by Liberty Broadband and Liberty TripAdvisor with the SEC.

These forward-looking statements speak only as of the date of this call, and Liberty Broadband and Liberty TripAdvisor expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein, to reflect any change in Liberty Broadband or Liberty TripAdvisor's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

On today's call, we will discuss certain non-GAAP financial measures for Liberty Broadband, including adjusted OIBDA. Information regarding the comparable GAAP metrics, along with required definitions and reconciliations, including preliminary note and Schedules 1 and 2 can be found in the earnings press release issued today, as well as earnings releases for prior periods, which are available on Liberty Broadband's website.

Now, I'd like to turn the call over to Liberty President and CEO, Greg Maffei.

Greg Maffei

Thank you, Courtnee, and good morning to all on the call. Today speaking on the call besides myself will also have Liberty Broadband's; Chief Accounting and Principal Financial Officer, Brian Wendling; Ron Duncan, CEO; and Pete Pounds, CFO of GCI, respectively will also be available to answer questions. Also during the Q&A, we will be available to answer questions related to Liberty TripAdvisor, but please do note that TripAdvisor has not yet reported on its third quarter results. So some of our answers may be limited.

Turning first to Liberty Broadband. In the period of August 1st through the end of October, Liberty Broadband repurchased 5.5 million shares for $550 million, a listed price of charter of about $319.76 per share. Over the same period, we received $616 million of proceeds from Charter share sales. I'd note we also increased our repurchase authorization in August, which now has $2.15 billion remaining on it as of the 1st of November.