Cable One, Inc. (NYSE:CABO) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET

Company Participants

Jordan Morkert - Investor Relations

Julie Laulis - President and Chief Executive Officer

Todd Koetje - Chief Financial Officer

Conference Call Participants

Phil Cusick - JPMorgan

Frank Louthan - Raymond James

Greg Williams - TD Cowen

Craig Moffett - MoffettNathanson

Steven Cahall - Wells Fargo

Brandon Nispel - KeyBanc Capital Markets

Operator

Good afternoon ladies and gentlemen. Thank you for standing by. My name is Erica. And I am the conference operator today. At this time I would like to welcome everyone to the Cable One Second Quarter 2023 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers remark there will be a question and answer session. [Operator Instructions] Thank you.

At this time I will be turning the call over to Jordan Morkert.

Jordan Morkert

Good afternoon, and welcome to Cable One's Second Quarter 2023 Earnings Call. We're glad to have you join us as we review our results. Before we proceed, I would like to remind you that today's discussion contains forward-looking statements relating to future events that involve risks and uncertainties. You can find factors that could cause Cable One's actual results to differ materially from the forward-looking statements discussed during today's call in today's earnings release and in our recent SEC filings.

Cable One is under no obligation and expressly disclaims any obligation, except as required by law, to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, today's remarks will include a discussion of certain financial measures that are not presented in conformity with U.S. generally accepted accounting principles or GAAP. Reconciliations of non-GAAP financial measures discussed on this call to the most directly comparable GAAP measures can be found in our earnings release or on our website at ir.cableone.net. During today's call, whenever we refer to second quarter results on an adjusted basis, we are excluding certain non-core assets we divested in the second quarter of 2022 which exclusively provided business services.

Joining me on today's call is our President and CEO, Julie Laulis; and Todd Koetje, our CFO. With that, let me turn the call over to Julie.

Julie Laulis

Thank you, Jordan, and good afternoon, everyone. We appreciate you joining us for today's call.

Before jumping into our second quarter results, I'd like to offer a couple of thoughts about our industry as a whole. Despite the current headwinds we and our peers face, the broadband business is strong and there is no industry we'd rather be in. We believe the long-term demand for connectivity will persist whether into the future, fueling the opportunity for growth. Fast and reliable internet is critical for today's consumers and data usage continues to grow as the average Cable One household now relies on 20 connected devices in their home, slightly higher than the national average.