Cable One, Inc. (NYSE:CABO) Q1 2023 Earnings Conference Call May 4, 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 and thank you for attending today's Cable One First Quarter 2023 Earnings Call. My name is Jason, and I'll be the moderator for today's call. All lines will be muted during the presentation portion of the call and opportunity for questions and answers at the end. [Operator Instructions]

I'd now like to pass the conference over to our host, Jordan Morkert.

Jordan Morkert

Good afternoon, and welcome to Cable One's First 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 first quarter results on an adjusted basis, we are excluding Tallahassee and Managed IT Operations we divested in the second quarter of 2022 which exclusively provided business services. For more information, please refer to the slides we have posted to our IR website.

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. Amidst the ongoing debate surrounding the longevity of traditional broadband providers, our first quarter 2023 results highlight the resiliency of our business model. In the face of ongoing macroeconomic challenges, demand for a reliable, value-based broadband product continues. This is evidenced by first quarter residential broadband revenue growth of 5.5% from prior year where we grew in customers as well as in ARPU.