Cable One, Inc. (NYSE:CABO) Q1 2022 Earnings Conference Call May 5, 2022 5:00 PM ET

Company Participants

Steven Cochran – Chief Financial Officer

Julie Laulis – President and Chief Executive Officer

Conference Call Participants

Frank Louthan – Raymond James

Greg Williams – Cowen

Steve Cahall – Wells Fargo

Brandon Nispel – KeyBanc Capital Markets

Jay Li – MoffettNathanson

Hudi Miller – GoldenTree

Operator

Good day, and thank you for standing by. Welcome to the Cable One First Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there will be question-and-answer session. [Operator Instructions] Please be advised that today’s conference is also is being recorded. [Operator Instructions]

Without further ado, I would like to welcome your first speaker for today, Mr. Steven Cochran, your CFO. You may begin.

Steven Cochran

Thank you, Carole. Good afternoon, and welcome to Cable One’s first quarter 2022 earnings call. We’re glad to have you join us as we review our results. Before we proceed, I’d 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 and 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.

Joining me on today’s call is our President and CEO, Julie Laulis. With that, let me turn the call over to Julie.

Julie Laulis

Thank you, Steven, and good afternoon, everyone. We appreciate you joining us for today’s call. Given our exceptional track record of strong financial results and solid customer growth, we hope you’ve come to know the Cable One as the team that delivers quarter in and quarter out, building upon our history of long-term consistent performance.

This quarter, once again, provided results that exemplify our focus on the execution of our strategic initiative. Compared to the first quarter of 2021, total revenues increased 25%. Adjusted EBITDA increased 25.6%, and adjusted EBITDA margin was 53.1%. While we are disappointed that our industry leading results are not reflected in our current stock price, we will continue to execute on our strategy and raise the bar. With sustained HSD customer and ARPU growth, effective management of our costs and focused capital allocation, we are well positioned to deliver on our long-term goals.