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Charter Communications (CHTR) investor relations material
Charter Communications Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 0.9% year-over-year to $13.7 billion in Q3 2025, mainly due to lower residential video and advertising sales, partially offset by growth in connectivity and mobile service revenues.
Net income attributable to shareholders was $1.1 billion, down 11.2% year-over-year, with EPS at $8.50 versus $8.99 last year.
Customer relationships fell 1.5% year-over-year to 31.1 million, with internet customers down 2% and video customers down 3.5%, but mobile lines grew 22% to 11.4 million, adding 493,000 lines in Q3.
Free cash flow was $1.6 billion, flat year-over-year, as higher operating cash flow was offset by increased capital expenditures.
Capital expenditures rose 19% year-over-year to $3.1 billion, driven by network evolution and rural expansion.
Financial highlights
Adjusted EBITDA was $5.6 billion, down 1.5% year-over-year, with a margin of 40.7%.
Free cash flow for Q3 was $1.6 billion, flat year-over-year, with LTM free cash flow up $881 million to $5.2 billion.
Net income margin was 8.3%, down from 9.3% a year ago.
Share repurchases totaled $2.2 billion for 7.6 million shares/units at an average price of $292.
Net cash flows from operating activities increased 14.7% to $4.5 billion.
Outlook and guidance
Full-year 2025 capital expenditures are expected to be approximately $11.5 billion, with 2025 as the peak CapEx year.
Expect 2025 full-year EBITDA growth to be flat or marginally positive year-over-year, with higher underlying growth absent political advertising impact.
Free cash flow and FCF/share are projected to grow rapidly as capital spending peaks and tax benefits are realized, with FCF/share expected to reach $34.
Plan to deleverage to a net debt/EBITDA ratio of 3.5x to 4x within 2–3 years post-Cox transaction close.
Network evolution initiative is targeted for completion in 2027.
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Frequently asked questions
A US-based Cable TV Provider
Charter Communications is a broadband connectivity company and cable operator serving millions of customers across the US. Headquartered in Stamford, Connecticut, it offers a suite of services under the brand name Spectrum, including high-speed internet, cable television, and telephone services. Founded in 1993, Charter has grown through a series of mergers and acquisitions, including significant deals with Time Warner Cable and Bright House Networks in 2016. Today, Charter is one of the largest providers of cable television services in the USA.
Providing Cable TV
Charter Communications, through its Spectrum brand, offers an array of cable television services to meet varied customer preferences. Spectrum TV provides a wide selection of channels, including local networks, popular entertainment, news, and sports channels. Customers can choose from several package options, each offering a different number of channels to cater to different viewing preferences. Additionally, Spectrum TV also provides features like On-Demand programming and the ability to stream live TV from various devices using the Spectrum TV App.
Not Just TV
Beyond its cable television offerings, Charter Communications provides several other services under the Spectrum brand. Its Spectrum Internet service delivers high-speed connectivity with various packages for customers to choose from. The packages in question are designed to meet various customer wants, regardless of whether a customer simply wants WiFi in their home or if they’re looking for more bandwidth-intensive activities such as streaming and online gaming. Additionally, Spectrum Voice offers landline telephone services, featuring local and long-distance calling within the US.
The Offerings for Businesses
Like many of its competitors, such as Comcast and AT&T, Charter also provides various services for businesses of all sizes. These include high-speed business internet with customizable speed options in order to provide the best service for the customers in question. Their packages for businesses also include phone services with advanced calling features, and TV packages commonly used in waiting rooms and similar settings.
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