Cable One, Inc. (NYSE: CABO) has reported financial and operating results for the quarter ended September 30, 2019, the company said.
Highlights from the quarter include:
Total revenues were USD 285.0 million in the third quarter of 2019 compared to USD 268.3 million in the third quarter of 2018,an increase of 6.2%. Residential data revenues increased 8.2% and business services revenues increased 28.0% year-over-year.
Net income was USD 49.8 million in the third quarter of 2019, an increase of 30.1%year-over-year. Adjusted EBITDA(1) was USD 140.0 million, an increaseof 14.1%year-over-year. Net profit margin was 17.5% and Adjusted EBITDA margin(1)was 49.1%.
Net cash provided by operating activities was USD 122.7 million in the third quarter of 2019, an increase of 10.5% year-over-year. Adjusted EBITDA less capital expenditures(1) was USD 74.1 million in the third quarter of 2019 compared to USD 54.4 million in the third quarter of 2018.
Residential data primary service units (“PSUs”) grew by nearly 21,000, or 3.5%, year-over-year and by nearly 6,400, or 1.0%, sequentially.
Cable One is a broadband communications provider serving more than 900,000 residential and business customers in 21 states through its SparklightTM and Clearwave brands. Sparklight provides consumers with a wide array of connectivity and entertainment services, including high-speed Internet and advanced Wi-Fi solutions, cable television and phone service.