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WOW Flat on Q1 Results

WideOpenWest, Inc. (NYSE: WOW) shares were fairly static Tuesday, as the company, one of the nation’s leading broadband providers, with an efficient, high-performing network that passes 1.9 million residential, business and wholesale consumers, today announced financial and operating results for the first quarter ended March 31.

Total Revenue was $161.5 million, a decrease of $10.7 million, or 6.2% compared to the first quarter of 2023.

HSD Revenue totaled $106.2 million, an increase of $1.0 million, or 1.0%, compared to the first quarter of 2023. Net Loss was $15.0 million for the quarter ended March 31, 2024

Adjusted EBITDA was $67.4 million, an increase of $2.2 million, or 3.4%, compared to the first quarter of 2023.

WideOpenWest also passed approximately 18,100 new homes in Greenfield and Edge-out markets in the first quarter of 2024.

Said CEO Teresa Elder, “Our first quarter results represent a strong start to the year as we make further progress in our new Greenfield markets and continued improvements in our legacy footprint. The strong penetration rates across our business reinforces our conviction in our strategy and confidence in our teams to continue growing our business.”

Seconded CFO John Rega, “We are continuing to aggressively manage our cost base while also driving further growth in our broadband-first strategy.”

WOW shares dipped a penny to $4.83, soon after Tuesday’s open.

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