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Cable/Video

Cable One $500M offer could signal more strategic investments

PHOENIX – Cable One, Inc. (NYSE: CABO) ("Cable One" or the "Company") today announced the commencement of a private offering (the "Offering") of $500 million aggregate principal amount of senior notes due 2030 (the "Notes"), subject to market and other conditions.

Cable One intends to use the net proceeds of the Offering for general corporate purposes, which may include acquisitions and strategic investments, including its previously announced investment in Mega Broadband Investments Holdings LLC.

In a separate announcement:

PHOENIX – Cable One, Inc. (NYSE: CABO) (the "Company" or "Cable One")today provided preliminary estimated results for the quarter ended September 30, 2020. The Company is making this announcement because the same information will be provided to potential investors in connection with a proposed offering of debt securities.

Preliminary Estimated Financial Results for the Quarter Ended September 30, 2020

  • The Company expects revenues to be in the range of $333 million to $339 million.
  • The Company expects net income to be in the range of $62 million to $66 million.
  • The Company expects Adjusted EBITDA(1) to be in the range of $170 million to $174 million.

(1) Adjusted EBITDA is defined in the section of this press release entitled "Use of Non-GAAP Financial Measures". Refer to the "Reconciliation of Non-GAAP Measure" table within this press release for a reconciliation of Adjusted EBITDA to net income.

Residential Data Subscriber Information for the Quarter Ended September 30, 2020

  • Residential data subscribers grew by approximately 26,000 on a sequential basis during the quarter ended September 30, 2020, which included approximately 5,000 subscribers from the Company's acquisition of Valu-Net LLC on July 1, 2020.

Conference Call

As previously announced, Cable One will host a conference call with the financial community to discuss its final results for the third quarter of 2020 on Thursday, November 5, 2020, at 5 p.m. Eastern Time (ET). The conference call will be available via a live audio webcast on the Cable One Investor Relations website at ir.cableone.net or by dialing 1-844-378-6483 (Canada: 1-855-669-9657 or International: 1-412-542-4178). Participants should register for the webcast or dial in for the conference call shortly before 5 p.m. ET. Cable One will issue a press release reporting its final results for the third quarter after market close on Thursday, November 5, 2020.

Cable One/Sparklight

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