Liberty Broadband Corp (NAS:LBRDP.PFD)
$ 24.81 -0.21 (-0.86%) Market Cap: - Enterprise Value: - PE Ratio: 14.34 PB Ratio: 1.28 GF Score: 81/100
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Q3 2024 Liberty Broadband Corp and Liberty TripAdvisor Holdings Inc Earnings Call Transcript

Nov 07, 2024 / 04:15PM GMT
Release Date Price: $23.85 (-0.21%)

Key Points

Positve
  • Liberty Broadband Corp (LBRDA) reported strong financial growth with Charter experiencing revenue growth of 1.6% and adjusted OIBDA growth of 3.6% during the quarter.
  • Charter's mobile segment performed well, adding 545,000 mobile net adds, bringing the total to over 9 million lines.
  • Free cash flow increased by 48% over the prior year, driven by high free cash flow generation and limited share repurchase activity.
  • GCI's revenue increased by $22 million over the prior year, driven by strong data revenue growth.
  • TripAdvisor's brand saw positive growth with monthly active users up 30% year-over-year, reflecting successful engagement strategies.
Negative
  • Charter experienced a net loss of 110,000 broadband subscribers, which would have been growth absent the impact of the Affordable Connectivity Program (ACP).
  • GCI consumer saw a decline of 1,800 revenue-generating wireless subscribers and a loss of 3,800 cable modem subscribers, largely due to the expiration of the ACP program.
  • Liberty Broadband Corp (LBRDA) has a total principal amount of debt of $3.7 billion, excluding preferred stock.
  • Charter paused its buyback program, resulting in limited proceeds to Liberty Broadband Corp (LBRDA) from Charter sales during the period.
  • There is ongoing uncertainty regarding the potential all-stock transaction between Liberty Broadband Corp (LBRDA) and Charter, with no definitive terms agreed upon yet.
Operator

Welcome to the Liberty Broadband 2024 Q3 earnings call. (Operator Instructions) As a reminder, this conference will be recorded today, November 7, 2024.

I would now like to turn the call over to Shane Clancy, SVP, Investor Relations. Please go ahead.

Shane Kleinstein
Liberty Broadband Corp - Vice President, Sustainability Head of Investor Relations

Thank you and good morning. Before we begin, we'd like to remind everyone that this call includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in most recent forms 10-K and 10-Q filed by Liberty Broadband and Liberty TripAdvisor with the SEC. These forward-looking statements speak only as of the date of this call, and Liberty Broadband and Liberty TripAdvisor expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the

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