Charter Comm misses by $0.32, reports revs in-line
- Reports Q1 (Mar) loss of $1.68 per share, $0.32 worse than the Capital IQ Consensus of ($1.36); revenues rose 7.1% year/year to $2.53 bln vs the $2.53 bln Capital IQ Consensus.
- Net cash flows from operating activities totaled $424 mln, compared to $528 mln in 1Q15. Free cash flow for 1Q16 totaled negative $61 mln, compared to $101 mln during the same period last year. The decrease was primarily due to higher cash interest paid in 1Q16 vs 1Q15, and the year-over-year increase in capital expenditures.
- As of March 31, 2016, total principal amount of debt was approximately $37.3 bln, and CHTR held $21.8 bln in proceeds from debt in escrow for CHTR's pending transactions with TWC and Bright House. As of March 31, 2016, CHTR's credit facilities provided approximately $1.2 bln of additional liquidity.