Altice USA, Inc. (NYSE:ATUS) Q4 2023 Earnings Call Transcript

Marc Sirota: Just to correct, the $1.6 billion to $1.7 billion. We’re not —

Bryan Kraft: Excuse me, sorry. I just forgot the decimal point.

Marc Sirota: It’s a point of clarity.

Bryan Kraft: We don’t want a list situation. So, that capital intensity implies a pretty wide range of 2024 revenue, if you combine that with the 18.5% capital intensity guidance, so I think that implies about $8.65 billion to $9.19 billion. I just wanted to ask, I guess, first, how much Cheddar revenue was in 2023, which would explain some or all of that revenue decline? And then whether you expect 2024 revenue to really be in that wider, if your expectations are really that wide of a range or if it’s more narrow than that? Thank you.

Marc Sirota: Yes. We won’t get into, this is Marc, we won’t get into specifics around the Cheddar revenue and all of that, but just say that it was de minimis and not material to the financial results of the company. As we think about the capital intensity, again, we’ve stated that we’re going to remain disciplined around how we drive capital intensity. We feel optimistic that we’re making the right strategic moves and have the right playbook in place to drive revenue, we won’t give specific guidance here today on the revenue outlook, but we feel like we have the right playbook in place to drive our revenue trajectory and we’ll kind of just leave it at that today.

Bryan Kraft: Marc, could I just ask one quick follow-up on the 18.5% capital intensity? Is that a multi-year comment, at this point? Should we think about that as being long-term guidance or is that more of a ‘24?

Marc Sirota: Bryan, that’s a great question. As we said and I’ll reiterate today, we will re-evaluate capital intensity every year. And, really be disciplined around how the business is performing to really dictate how much we’re going to spend. And again on the 18.5% we are saying we will moderate slightly from that to drive those results.

Bryan Kraft: Okay. Thank you.

Operator: Thank you. We’ve reached the end of our question-and-answer session. I’d like to turn the floor back over to management for any further closing comments.

Sarah Freedman: Thank you all for joining. Please reach out to Media Relations or Investor Relations with any additional questions.

Dennis Mathew: Thank you. Have a good day.

Operator: Thank you. That does conclude today’s teleconference and webcast. You may disconnect your lines at this time and have a wonderful day. We thank you for your participation today.