Why Is Broadband Provider WideOpenWest Stock Trading Lower Wednesday?
Portfolio Pulse from Anusuya Lahiri
WideOpenWest, Inc (NYSE:WOW) reported a Q4 revenue decline of 6% Y/Y to $168.8 million, missing consensus estimates of $170.6 million, and an EPS loss of $(0.54), also missing consensus estimates of $(0.01). The company saw a slight increase in HSD Revenue but a decrease in Total Subscription Revenue and Total Subscribers. Adjusted EBITDA margin improved slightly, and capital expenditures increased significantly. The company provided Q1 revenue guidance below consensus estimates, leading to an 8.96% drop in stock price in premarket trading.
March 13, 2024 | 1:04 pm
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NEGATIVE IMPACT
WideOpenWest reported a Q4 revenue decline and an EPS loss greater than expected, with a decrease in Total Subscription Revenue and Total Subscribers. The company's Q1 revenue guidance is also below consensus estimates, leading to a significant premarket stock price drop.
The reported decline in revenue and EPS, coupled with a decrease in Total Subscription Revenue and Total Subscribers, directly impacts investor sentiment and stock valuation. The provided Q1 revenue guidance below consensus further exacerbates concerns about the company's short-term growth prospects, leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100