Altice USA Shares Down 14% Since Q4 Miss

Altice USA (NYSE:ATUS) shares fell more than 14% since the company’s reported Q4 results on Wednesday, with EPS of ($0.43) coming in worse than the Street estimate of $0.21. Revenue was $2.37 billion, missing the Street estimate of $2.4 billion.

There were some positives in the results, namely some underlying improvement in customer losses and customer metrics, and a new senior management team that is bringing a fresh perspective and approach to running the business.

There were also some negatives, including commentary suggesting higher expense growth in 2023 than estimated, and a slower pace of line extension activity in 2023.