Q1 2025 Liberty Broadband Corp Earnings Call Transcript
Key Points
- Liberty Broadband Corp (LBRDA) reported GCI's best quarter ever with revenue of $266 million and adjusted EBITDA of $111 million, up 9% and 23% respectively over the prior year.
- The acquisition of Liberty Broadband by Charter was approved by shareholders and is expected to close by June 30, 2027, indicating a clear path forward for the company.
- GCI successfully connected Bethel, the largest community in western Alaska, with fiber from Anchorage, providing transformational broadband services to the area.
- GCI refinanced its senior credit facility, extending maturity to attractive rates, which provides good liquidity and no meaningful maturity until October 2028.
- The company is preparing contingency plans for potential Supreme Court rulings on the Universal Service Fund, showing proactive risk management.
- GCI experienced a decline of 400 wireless subscribers and 5,000 cable modem customers, primarily due to the termination of the ACP program in 2024.
- A fiber break on a third-party network disrupted traffic for GCI's consumer and enterprise customers, with consumer services experiencing degraded service until repairs are completed.
- The company faces competition from Starlink, which is impacting its market share in certain areas.
- Capital expenditures are elevated in 2025 and expected to remain high in 2026 due to build-out requirements under the Alaska plan, impacting cash flow.
- The company is still working through the SEC process for the GCI spinoff, which could delay strategic initiatives.
Welcome to Liberty Broadband 2025 Q1 earnings call. (Operator Instructions) As a reminder, this conference will be recorded, May 7. I would now like to turn the call over to Shane Kleinstein, SDP and Investor Relations. Please go ahead.
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 the most recent Forms 10-K and 10-Q filed by Liberty Broadband with the SEC.
These forward-looking statements speak only as of the date of this call, and Liberty Broadband expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty Broadband's expectations with regard there to or any change in events, conditions,
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