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Rotoplas: Fourth Quarter 2024 Results

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MEXICO CITY, Feb. 6, 2025 /PRNewswire/ — Grupo Rotoplas S.A.B. de C.V. (BMV: AGUA*) (“Rotoplas”, “the Company”), America’s leading company in water solutions, reports its unaudited fourth quarter 2024 results. The information has been prepared in accordance with the International Financial Reporting Standards (IFRS).

Figures are expressed in millions of Mexican pesos. 

HIGHLIGHTS | 4Q24 vs 4Q23

Net sales closed at Ps. 2,723 million, 19.3% lower than 4Q23, due to weaker performance in Argentina caused by the macroeconomic situation, which could not be offset by growth in other countries. Excluding Argentina, net sales would have increased by 7.5%.Product sales decreased by 22.7%, primarily impacted by Argentina’s economic recession, resulting in lower sales volumes. Excluding Argentina, product sales would have grown by 4.0%.Service sales increased by 45.6%, driven by the strong acceptance of bebbia SMART and the sustained growth of its user base, which now exceeds 133,000 subscribers.  Gross profit was Ps. 1,112 million, 27.5% lower than in 4Q23. The gross margin declined by 460 bps to 40.8%, due to lower sales, which affected fixed cost absorption.Operating income reached Ps. 64 million, an 83.4% decrease compared to 4Q23, impacted by a lower gross margin and expenses related to digital initiatives aimed at empowering users with information on water quantity and quality. However, cost control measures are beginning to show results, excluding extraordinary severance expenses from the organizational restructuring, expenses decreased by 8.3% compared to the previous quarter.EBITDA closed at Ps. 239 million, 56.8% lower than in 4Q23. The EBITDA margin was 8.8% compared to 16.4% in 4Q23. Excluding Ps. 54 million in severance payments, the EBITDA margin would have been 10.8%.Net result for the quarter posted a loss of Ps. 122 million, compared to a profit of Ps. 71 million in 4Q23. This result is attributed to the lower sales volume, which impacted operating income.

HIGHLIGHTS |CUMULATIVE 2024 vs 2023

Net sales reached Ps. 11,201 million, 7.8% lower than the previous year. This result mainly reflects the impact of Argentina’s economic situation. Excluding Argentina, net sales would have increased by 7.8%.Product sales decreased by 10.6%, mainly affected by Argentina, as well as slow performance in the United States due to lower demand for storage solutions amid wet weather conditions and weakness in the agricultural sector. Excluding Argentina, product sales would have grown by 4.8%.Service sales grew by 43.6%, representing 8.0% of total sales, driven by the strong expansion of bebbia, as well as positive momentum in RSA and the growth of rieggo.Gross profit stood at Ps. 5,033 million, representing a 9.4% decrease. The gross margin closed at 44.9%,contracting by 80 basis points due to lower absorption of fixed costs caused by the decline in sales.Operating income reached Ps. 881 million, 44.7% lower than in 2023. This decrease was due to lower sales as well as increased expenses associated with investments in digital initiatives.EBITDA closed at Ps. 1,492 million, a decrease of 30.0%. The EBITDA margin stood at 13.3%. Excluding severance payments from the personnel restructuring, the margin would have been 13.8%.Net income reached a profit of Ps. 169 million, a decrease of 46.1% from the previous year due to lower operating profit.ROIC decreased by 760 basis points, closing at 7.8%, 440 bps below the cost of capital. Excluding severance costs, ROIC would have closed at 8.3%.Net Debt/EBITDA leverage closed at 2.6x.CapEx for the period amounted to Ps. 565 million, mainly focused on technology investments for storage production, expansion of production capacity, and the service platform in Mexico.

KEY FIGURES | 4Q24 vs 4Q23

4Q

12M

2024

2023

2024

2023

Income Statement

Net Sales

2,723

3,376

(19.3 %)

11,201

12,146

(7.8 %)

% gross margin

40.8 %

45.4 %

(460) bps

44.9 %

45.7 %

(80) bps

Operating income

64

385

(83.4 %)

881

1,592

(44.7 %)

% margin

2.4 %

11.4 %

(900) bps

7.9 %

13.1 %

(520) bps

EBITDA[1]

239

554

(56.8 %)

1,492

2,131

(30.0 %)

% margin

8.8 %

16.4 %

(760) bps

13.3 %

17.5 %

(420) bps

Net Result

(122)

71

NM

169

312

(46.1 %)

% margin

(4.5 %)

2.1 %

(660) bps

1.5 %

2.6 %

(110) bps

Balance

Cash and Cash Equivalent

732

566

29.4 %

Debt with cost

4,683

4,028

16.3 %

Net Debt

3,951

3,462

14.1 %

(Cumulative)

Cash Flow

Operating Cash Flow

814

1,290

(36.9 %)

CapEx

565

609

(7.2 %)

Working Capital

(419)

(168)

NM

Others

Net Debt / EBITDA

2.6 x

1.6 x

1.0 x

ROIC

7.8 %

15.4 %

(760) bps

Cash Conversion Cycle

56

30

26 days

 

KEY FIGURES | JANUARY – DECEMBER

2024

Employees

3,502

Sales points

>32,000

Government Transactions

4.0 %

e-commerce clients

> 4,900

bebbia units

>133,000

20L water jugs saved

58.6 million

 

MESSAGE | CEO

Dear Investors,

2024 was a year marked by a challenging macroeconomic environment, particularly due to the crisis in Argentina, which forced us to make strategic decisions to mitigate its impact. Nevertheless, we closed the year with the resilience that defines Rotoplas, effectively managing the factors within our control and strengthening our operational capacity. This has made our organization more agile and better equipped to navigate future challenges.

In overcoming these hurdles, we have also made significant progress. The Group reached a record NPS, reflecting the trust and continued satisfaction of our customers. Additionally, we successfully migrated the entire organization to Google Cloud, centralizing our data and enabling the use of artificial intelligence and advanced analytics tools.

In Mexico, we successfully completed the SMART Project, optimizing production processes and consolidating our market position. We also launched our B2B and B2B2C e-commerce platforms for our products, reaffirming our commitment to innovation and the development of advanced technological solutions. Our services platform unlocked new opportunities, enabling us to better meet customer needs. We are especially proud of bebbia’s growth, which surpassed 133,000 subscribers.

As we highlighted during Agua Day, we remain focused on improving cash flow and optimizing our financial structure through a selective investment strategy, prioritizing projects with the highest return. Additionally, given market conditions and our commitment to cost control, we implemented a workforce restructuring during the quarter, along with other measures, which will enable us to operate more efficiently and adapt more effectively in the coming year.

Finally, we reaffirm our commitment to the four strategic pillars that guide us: sustainable product growth, the sustainable development of services, the digitalization of the water ecosystem, and the creation of value for all stakeholders.

With determination and enthusiasm, we are ready to face the challenges of 2025 and continue providing solutions that help people improve their relationship with water.

Carlos Rojas Aboumrad

INVITE | EARNINGS CALL

Friday, February 7th, 10:00am Mexico City Time (11:00am, EST)
Speakers: Carlos Rojas (CEO), Andrés Pliego (CFO)
Link: https://rotoplas.zoom.us/webinar/register/WN__vfMwyybRm6T0clQ37bS1g#/registration

 

EBITDA| BY REGION AND SOLUTION

4Q

12M

2024

2023

2024

2023

Mexico

Sales

1,531

1,473

4.0 %

6,578

6,001

9.6 %

EBITDA

254

314

(18.9 %)

1,402

1,537

(8.7 %)

% Margin

16.6 %

21.3 %

(470) bps

21.3 %

25.6 %

(430) bps

Argentina

Sales

592

1,394

(57.5 %)

2,316

3,903

(40.7 %)

EBITDA

(29)

242

NM

77

628

(87.7 %)

% Margin

(4.8 %)

17.4 %

NM

3.3 %

16.1 %

NM

United States

Sales

256

239

6.8 %

1,033

1,101

(6.2 %)

EBITDA

(24)

(39)

(37.8 %)

(123)

(191)

(35.9 %)

% Margen

(9.5 %)

(16.3 %)

680 bps

(11.9 %)

(17.4 %)

550 bps

Others

Sales

345

271

27.3 %

1,274

1,141

11.7 %

EBITDA

37

37

2.3 %

135

158

(14.6 %)

% Margin

10.9 %

13.5 %

(260) bps

10.6 %

13.8 %

(320) bps

4Q

12M

2024

2023

2024

2023

Products

Sales

2,480

3,209

(22.7 %)

10,303

11,521

(10.6 %)

EBITDA

340

595

(42.8 %)

1,828

2,385

(23.3 %)

% Margin

13.7 %

18.5 %

(480) bps

17.7 %

20.7 %

(300) bps

Servicies

Sales

243

167

45.6 %

898

625

43.6 %

EBITDA

(101)

(41)

145.6 %

(336)

(254)

32.3 %

% Margin

(41.5 %)

(24.6 %)

NM

(37.5 %)

(40.7 %)

320 bps

 

2024

%

2023

%

Sales

Mexico

6,578

59 %

6,001

49 %

Argentina

2,316

21 %

3,903

32 %

United States

1,033

9 %

1,101

9 %

Other

1,274

11 %

1,141

9 %

Total

11,201

100 %

12,146

100 %

EBITDA

Mexico

1,402

94 %

1,537

72 %

Argentina

77

5 %

628

29 %

United States

(123)

-8 %

(191)

-9 %

Other

135

9 %

158

7 %

Total

1,492

100 %

2,131

100 %

 

Mexico

During 4Q24, net sales in Mexico increased by 4.0%, while cumulative sales grew by 9.6%.

During the quarter, product sales remained in line with 4Q23 levels. In contrast, the services platform experienced solid growth, driven by the strong performance of bebbia, as well as the continued expansion of RSA and rieggo.

The EBITDA margin for the quarter contracted by 470 bps to 16.6%, and the cumulative margin decreased by 430 bps to 21.3%. This reduction is attributed to a higher share of services in the sales mix, as well as increased logistics and digital expenses.

The Ixtapaluca plant began operations during the quarter and is expected to reach full capacity in 2025.

Argentina

Net sales for the quarter declined by 57.5% in Mexican pesos, while in local currency, decreased by 19.7%, reflecting the impact of currency devaluation. Additionally, the 4Q23 comparative base was high, as it did not fully incorporate the effect of the December devaluation, given that, under accounting standards, the average exchange rate is used.

On a cumulative basis, sales declined by 40.7% in Mexican pesos and grew by 58.5% in local currency.

The economic recession impacted demand across all three categories, reducing the ability to absorb fixed costs and expenses. Additionally, competitive pressure constrained price adjustments in response to inflation, limiting the ability to offset rising costs.

This scenario affected the EBITDA margin, which closed negative at 4.8% for the quarter, while on a cumulative basis, it contracted by 1,280 bps, closing at 3.3%.

NOTE: Adoption of IAS 29, Financial Reporting in Hyperinflationary Economies. 

Due to Argentina experiencing inflation above 100% in the last three years, it is considered a hyperinflationary economy. In accordance with IAS 29, an adjustment for inflation has been made to the Financial Statements to consider changes in purchasing power.

International Accounting Standard (IAS) 29, Financial Information in Hyperinflationary Economies establishes that the results of operations in Argentina should be reported as if they were hyperinflationary as of January 1st, 2018. Moreover, an adjustment for inflation in the Financial Statements should be made to account for the change in the purchasing power of the local currency. 

As a result, in 2024, the impact of restatement resulted in a decrease of Ps. 32 million in financial expenses, benefiting the Comprehensive Financing Result. After considering taxes, the benefit in net profit amounts to Ps. 102 million.

United States  

During the fourth quarter, net sales increased by 6.8%, while on a cumulative basis, they decreased by 6.2%.

The increase in quarterly sales was primarily driven by foreign exchange effects, as the U.S. dollar strengthened against the Mexican peso. However, during the year, demand for storage solutions has been impacted by wetter weather conditions, as well as a slowdown in the agricultural sector and the housing market.

Thanks to the operating and logistics cost optimization strategy, along with adjustments in the commercial strategy, negative EBITDA was reduced by 37.8% during the quarter and by 35.9% for the year. While the EBITDA margin remains negative, it continues to show sustained improvement.

Other countries

Net sales in other countries (Peru, Guatemala, El Salvador, Costa Rica, Honduras, Nicaragua and Brazil) increased by 27.3 % in the quarter and 11.7% over the year.

In Peru, sales increased both in the quarter and on a cumulative basis, mainly driven by the development of the pipes and water heater categories in the country.

Central America showed solid sales growth in the quarter and on a cumulative basis, with strong performance across all five countries and in the storage and waterflow categories.

In Brazil, the developing water treatment plant business maintained good growth pace, driven by the privatization of the water and sanitation service in São Paulo. This process has led to stricter wastewater discharge regulations and higher water tariffs, increasing market opportunities.

The EBITDA margin decreased by 260 bps in the quarter and by 320 bps on a cumulative basis, closing at 10.9%. This reduction was primarily due to development costs for water treatment plants in Brazil, as well as logistics and distribution expenses in other countries.

ANALYSIS | COSTS AND EXPENSES

Gross Profit

The gross profit for the quarter decreased by 27.5%, reaching Ps. 1,112 million, while for the year it declined by 9.4%, reaching Ps. 5,033 million. The margin contracted by 460 bps, standing at 40.8% during the quarter, and by 80 bps on a cumulative basis, reaching 44.9%.

The contractions were due to the economic situation in Argentina, which impacted sales levels and, consequently, reduced the absorption of fixed costs.

Operating Income

The operating profit reached Ps. 64 million, with a margin of 2.4%, representing an 83.4% decrease compared to 4Q23. On a cumulative basis, operating income was Ps. 881 million, with a margin of 7.9%, reflecting a contraction of 520 bps compared to the previous year.

The reduction in margins was mainly due to the decline in sales in Argentina, as well as expenses related to the development of digital initiatives, including the integration of data analytics into solutions like bebbia and the launch of e-commerce platforms for bebbia and products in Mexico.

During the fourth quarter, cost control measures were implemented, resulting in an 8.3% reduction in operating expenses compared to the previous quarter. This decrease excludes severance payments related to the restructuring, as these are extraordinary and non-recurring expenses.

Comprehensive Financing Result

The comprehensive financing result for the fourth quarter of 2024 recorded an expense of Ps. 249 million, compared to Ps. 311 million in 4Q23. The 2024 expense includes Ps. 162 million for interest on debt, commissions, and leases, and Ps. 87 million due to exchange rate effects and inflation in Argentina.

The cumulative comprehensive financing result was an expense of Ps. 688 million compared to an expense of Ps. 1,251 million in the same period of 2023. The 2024 expense includes Ps. 509 million for interest on debt, commissions, and leases, and Ps. 179 million due to exchange rate effects and inflation in Argentina.

In 2024, the accounting method for recording hedging was modified; the effects of the MXN/USD hedging are now recorded along with costs rather than within the Comprehensive Financing Result, thus influencing the gross margin.

Net Result

Net result in the fourth quarter was a net loss of Ps. 122 million, compared to a net income of Ps. 71 million in 4Q23. On a cumulative basis, net income was Ps. 169 million, compared with the Ps. 312 million recorded in 2023.

The quarterly loss and the 46.1% cumulative decline are mainly explained by the contraction in operating margins.

CapEx

12M

2024

%

2023

%

Mexico

525

93 %

548

90 %

(4.2 %)

Argentina

32

6 %

44

7 %

(26.8 %)

United States

0

0 %

9

1 %

(97.4 %)

Others

8

1 %

8

1 %

NM

Total

565

100 %

609

100 %

(7.2 %)

 

Capital investments represented 5.0% of sales in 2024 and decreased by 7.2% compared to the same period last year.

Capital investments include:

In Mexico, the investment in new technology for the manufacturing of storage solutions, which is part of a long-term sustainability commitment, driving the design of the next generation of water tanks. Additionally, CapEx includes Ps. 101 million for the construction of the Ixtapaluca plant, Ps. 121 million allocated to bebbia, and Ps. 56 million for treatment plants.In Argentina, capital investments have focused on increasing production capacity at the waterflow plant.Others mainly represents the investment for the development of treatment plants in Brazil.

 

ANALYSIS | BALANCE SHEET

Cash Conversion Cycle (Days)  

12M

2024

2023

Δ days

Inventory Days

96

56

40

Accounts Receivale Days

74

45

29

Accounts Payable Days

114

71

42

Cash Conversion Cycle

56

30

26

Inventory Days: Average 3M Inventory / (3M Cost of Sales / 90)
Accounts Receivable Days: Average 3M Accounts Receivable / (3M Sales / 90)
Accounts Payable Days: Average 3M Suppliers / (3M Cost of Sales / 90)

Debt

12M

2024

2023

Total Debt

4,683

4,028

16.3 %

Short-term Debt

684

29

NM

Long-term Debt

3,999

3,999

0.0 %

Cash and Cash Equivalents

732

566

29.4 %

Net Debt

3,951

3,462

14.1 %

 

Debt Maturity Profile

Total debt increased to Ps. 4,683 million and corresponds to the AGUA 17-2X sustainable bond, as well as short-term loans for working capital. The combined cost of debt is 9.0%.

Currency

Amount in MXN

Maturity

AGUA 17-2X Sustainable Bond

Mexican Pesos

4,012

June 16, 2027

HSBC Working Capital Loan

Mexican Pesos

250

May 30, 2025

Santander Working Capital Loan

Mexican Pesos

400

January 31, 2025

Citi Working Capital Loan

U.S. Dollars

21

July 30, 2025

 

Financial Ratios

12M

2024

2023

Net Debt / EBITDA

2.6 x

1.6 x

1.0 x

Interest covarage*

4.7 x

9.2 x

(49.4 %)

Total Liabilities / Total Stockholders’ Equity

1.2 x

1.1 x

0.2 x

Net Earnings per Share**

0.35

0.64

(46.1 %)

* EBITDA LTM/ net interest LTM
**Net income divided by 486.2 million shares, expressed in Mexican pesos.

At the close of the fourth quarter of 2024, leverage is above the Company’s internal debt limit, which sets a maximum of 2.0x Net Debt/EBITDA. It is important to highlight that this is an internal guideline, not a contractual restriction or covenant, and the issuer expects to return to levels below 2.0x.

ROIC / Cost of Capital

4Q17

4Q18

4Q19

4Q20

4Q21

4Q22

4Q23

4Q24

ROIC

7.3 %

7.3 %

9.8 %

12.4 %

14.5 %

14.1 %

15.4 %

7.8 %

WACC

10.5 %

12.5 %

12.9 %

10.0 %

12.1 %

12.7 %

12.3 %

12.2 %

ROIC: NOPAT L12M/Average Invested Capital t, t-1
Invested Capital: Total Assets – Cash and Cash Equivalents – Short-Term Liabilities
ROIC excludes Flow program execution costs from 2Q20 to 4Q21 as they are one-off

The ROIC reached 7.8%, decreasing by 760 bps compared to the same quarter of the previous year, and is 440 basis points below the cost of capital. Excluding severance expenses related to the organizational reorganization in 4Q24, ROIC would have closed at 8.3%.

Financial derivates

The use of derivative financial instruments is governed by the recommendations and policies issued by the Board of Directors and supervised by the Audit Committee, which provides guidelines on the management of exchange risk, interest rate risk, credit risk, the use of derivative and non-derivative financial instruments, and the investment of excess liquidity.

As of December 31st, 2024, the market value of Grupo Rotoplas’ position was:

Market Value

Instrument

MXN/USD exchange rate forward

Ps. 26.7 millon

 

ESG | ENVIORMENTAL, SOCIAL AND GOVERNANCE

Throughout the year, the following progress stood out within sustainable initiatives:

Q4 2024

Target 2024

Target 2025

Profit

Tier-1 suppliers evaluated with ESG criteria

76 %

75 %

100 %

Customer satisfaction (NPS score)

80

76

80

Planet

CO2 intensity – Scopes 1 and 2 per ton of processed resin

0.4

0.43

0.41

m3 of water purified by our solutions

1.2M

1.2M

1.7M

People

People with access to sanitation (cumulative since 2021)

1.1M

894K

1M

Women in the workforce

25.10 %

27 %

30 %

 

Five out of the six public ESG goals were achieved, except for the gender target. However, the 2024 year-end figures show an improvement compared to 2023, with the percentage of women in the workforce increasing from 23.7% to 25.1%. Additionally, efforts continue to ensure a more inclusive recruitment process, as well as to promote the retention and development of female talent within the organization.On the environmental front, Scope 1 and 2 emissions were reduced by ~12%, exceeding the target set in this area. Additionally, Rotoplas completed the validation process for its emissions reduction targets with the Science Based Targets initiative, committing to reducing direct emissions by 42% between 2022 and 2030, and indirect emissions by 25% over the same period. Furthermore, Rotoplas published its first Environmental Product Declaration (EPD) for the 1,100L Tinaco Plus+, sharing its environmental footprint throughout its lifecycle.In the social dimension, efforts were made to adopt best practices in line with the Mexican Standard NMX 025 on labor equality and non-discrimination, while continuing to work through various committees and working groups focused on diversity and inclusion. Additionally, volunteer initiatives were carried out in Mexico and Peru, while in Argentina, another edition of the “El Agua en Debate” program was developed.Under the governance pillar, a risk and opportunity analysis related to climate change and water security was conducted. Also, in collaboration with JP Morgan, Rotoplas published its Sustainable Development Impact Disclosure (SDID) Report, becoming the first company in Latin America and the second globally to disclose how its strategy aligns with the UN Sustainable Development Goals. Regarding disclosure questionnaires, the Corporate Sustainability Assessment 2024 score from S&P Ratings increased by 2 points, positioning Rotoplas among the top five companies globally in its industry.Finally, in community social action, the partnership with the Coca-Cola Foundation, the eight bottlers of the Mexican Coca-Cola industry, and Isla Urbana for the “Escuelas con Agua” program stood out, closing 2024 with 300 IoT-enabled rainwater harvesting systems installed and operating in schools across Mexico. Additionally, the delivery and installation of materials for the 29 winning projects of the “A Fluir” initiative were completed in six states across Mexico, benefiting an estimated 200,000 people.

 

AGUA | PREFROMANCE AND ANALYST COVERAGE

4Q

2024

2023

AGUA*

Closing Price

15.95

30.06

(46.9 %)

P/BV

1.2 x

2.4 x

(1.2) x

EV/EBITDA

7.8 x

8.5 x

(0.7) x

 

Treasury shares

As of December 31st, 2024, the Company had 2.6 million shares in the treasury, equivalent to an invested amount of Ps. 60 million. Treasury shares have never been cancelled.

Analyst Coverage

As of December 31st, 2024, analysts’ coverage was provided by:

Recommendation

PO

BTG Pactual

Felipe Barragán

Neutral

$24.80

felipe.barragan@btgpactual.com

GBM

Regina Carrillo

Buy

$44.00

rcarrillo@gbm.com

SIGNUM / PUNTO

Alberto Alarcón

Hold

$22.08

Alberto.alarcon@signumresearch.com

Miranda Global Research /ESG

Martín Lara / Marimar Torreblanca

Buy

$39.00

martin.lara@miranda-gr.com
marimar.torreblanca@miranda-partners.com

Apalache

Jorge Plácido

Buy

$39.10

jorge.placido@apalache.mx

Consensus

Buy 

$33.80

 

FINANCIAL STATMENTS | INCOME STATMENT, BALANCE SHEET AND CASH FLOW

Income Statement
(Unaudited figures, millions of Mexican pesos)

4Q

12M

2024

2023

2024

2023

Income Statement

Net Sales

2,723

3,376

(19.3 %)

11,201

12,146

(7.8 %)

COGS

1,611

1,842

(12.5 %)

6,168

6,593

(6.4 %)

Gross Profit

1,112

1,534

(27.5 %)

5,033

5,554

(9.4 %)

% margin

40.8 %

45.4 %

 (460) bps

44.9 %

45.7 %

 (80) bps

Operation Expenses

1,048

1,149

(8.8 %)

4,153

3,962

4.8 %

Operating Income

64

385

(83.4 %)

881

1,592

(44.7 %)

% margin

2.4 %

11.4 %

 (900) bps

7.9 %

13.1 %

 (520) bps

Comp. Financing Results

(249)

(311)

(20.0 %)

(688)

(1,251)

(45.0 %)

Financial Income

(3)

48

NM

87

155

(44.1 %)

Financial Expenses

(246)

(359)

(31.4 %)

(774)

(1,406)

(44.9 %)

Income Before Taxes

(186)

73

NM

191

339

(43.6 %)

Taxes

(64)

2

NM

23

27

(15.5 %)

Net Income

(122)

71

NM

169

312

(46.1 %)

% margin

(4.5 %)

2.1 %

 (660) bps

1.5 %

2.6 %

 (110) bps

EBITDA[2]

239

554

(56.8 %)

1,492

2,131

(30.0 %)

% margin

8.8 %

16.4 %

 (760) bps

13.3 %

17.5 %

 (420) bps

EBITDA2 ex severance package

293

554

(47.0 %)

1,546

2,131

(27.4 %)

% margin

10.8 %

16.4 %

(560) bps

13.8 %

17.5 %

(370) bps

 

Balance Sheet (unaudited figures in millions of Mexican pesos)

December

2024

2023

Balance Sheet

Cash and Cash Equivalents

733

566

29.4 %

Accounts Receivable

1,824

1,491

22.3 %

Inventory

1,831

1,006

82.1 %

Other Current Assets

701

575

22.1 %

Current Assets

5,088

3,638

39.9 %

Property, Plant and Equipment – Net

4,044

4,063

(0.5 %)

Other Long-term Assets

5,812

4,851

19.8 %

Total Assets

14,945

12,552

19.1 %

Short-term Debt

684

29

NM

Suppliers

1,198

816

46.9 %

Other Accounts Payable

1,105

854

29.3 %

Short-term Liablilities

2,987

1,699

75.9 %

Long-term Debt

3,999

3,999

0.0 %

Other long-term Liabilities

1,256

803

56.3 %

Total Liablities

8,242

6,501

26.8 %

Total Stockholders’ Equity

6,702

6,051

10.8 %

Total Liabilities + Stockholders’ Equity

14,945

12,552

19.1 %

 

Cash Flow (Unaudited figures, millions of Mexican pesos)

12M

2024

2023

Cash Flow

EBIT

881

1,592

(44.7 %)

Depreciation and Amortization

596

520

14.6 %

Inventory

(478)

(54)

NM

Accounts Receivable

(290)

(320)

(9.4 %)

Accounts Payable

349

207

68.7 %

Other Current Liabilities

(111)

(514)

NM

Taxes

(133)

(140)

(5.2 %)

Operating Cash Flow

814

1,290

(36.9 %)

CapEx

(565)

(609)

(7.2 %)

Other Investment Activities

(52)

133

NM

Investing Cash Flow

(617)

(476)

29.7 %

Dividends

(242)

(235)

2.9 %

Repurchase Fund

(15)

(74)

(79.5 %)

Short and Long-term Debt

650

17

NM

Interest and Leases

(606)

(549)

10.4 %

Financing Cash Flow

(213)

(841)

(74.7 %)

Change in Cash

(16)

(27)

(40.8 %)

Effect of exchange rate on cash

183

(80)

NM

Net Change in Cash

166

(107)

NM

Inicial Cash Balance

566

673

(15.9 %)

Final Cash Balance

732

566

29.4 %

 

PRESS RELEASES | 4Q24

Rotoplas invited the investment public to AGUA Day 2024. – December 5th.Rotoplas informed the investment public about the key topics discussed during AGUA Day 2024. – December 5th.Rotoplas invited the investment public to its 3Q24 Earnings Conference Call. – October 8th.Rotoplas informed the investment public about Fitch’s reaffirmation of Grupo Rotoplas’ ‘AA(mex)’ rating with a stable outlook. – October 4th.For more information, please consult the relevant events section of our website:

https://rotoplas.com/investors/press-releases/

CONTACT DETAILS | INVESTOR RELATIONS

Mariana Fernández

Maria Fernanda Escobar

mfernandez@rotoplas.com

mfescobar@rotoplas.com

 

Forward-Looking Statements

This press release may include certain forward-looking statements relating to Grupo Rotoplas S.A.B. de C.V. It relies on considerations of the Grupo Rotoplas S.A.B. de C.V. management which are based on current and known information; however, the expectations could vary due to facts, circumstances, and events beyond the control of Grupo Rotoplas, S.A.B. de C.V. 

About the Company

Grupo Rotoplas S.A.B. de C.V. is America’s leading provider of water solutions, including products and services for storing, piping, improving, treating, and recycling water. With over 40 years of experience in the industry and 18 plants throughout the Americas, Rotoplas is present in 14 countries and has a portfolio that includes 27 product lines, a services platform, and an e-commerce business. Grupo Rotoplas has been listed on the Mexican Stock Exchange (BMV) under the ticker “AGUA” since December 10th, 2014.

Pedregal 24, 19th Floor, Molino del Rey
Miguel Hidalgo
Zip Code 11040, Mexico City
T. +52 (55) 5201 5000
www.rotoplas.com

1 EBITDA includes donations of Ps. 10.6 million in 4Q24 and Ps. 15.7 million in 12M24. Additionally, it includes donations of Ps. 12.3 million in 4Q23 and Ps. 19.2 million in 12M23.
2 EBITDA includes donations of Ps. 10.6 million in 4Q24 and Ps. 15.7 million in 12M24. Additionally, it includes donations of Ps. 12.3 million in 4Q23 and Ps. 19.2 million in 12M23.

 

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SOURCE Grupo Rotoplas S.A.B. de C.V.

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Technology

S&P Global Announces New Strategic Direction for Upstream Energy Business

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Divests its geoscience and petroleum engineering software portfolio to global technology firm SLB in order to sharpen focus on proprietary data and insightsLaunches Titan, a new customer facing AI-powered platform for upstream data and insightsPartners with SLB to distribute S&P Global Energy data and develop new tools

NEW YORK, April 24, 2026 /PRNewswire/ — Today, S&P Global announced strategic innovations and changes to its upstream energy business, beginning with a definitive agreement to sell S&P Global Energy’s geoscience and petroleum engineering software portfolio to SLB, a global technology company driving energy innovation across more than 100 countries. This portfolio of subsurface and engineering software, widely used by U.S. onshore and unconventional operators, includes Kingdom Software, Petra, Harmony Enterprise, Analytics Explorer, SubPUMP, PowerTools, FieldDIRECT, Piper, WellTest, and The Element Platform, together with associated business services.

In addition, S&P Global Energy will launch an AI-powered upstream data platform known as Titan, designed to transform how customers discover, analyze, and act on high-quality data and insights. Built on comprehensive global coverage spanning 113 countries, Titan will serve an estimated 110,000 users across 4,000 client organizations, scaling from individual analysts to global enterprises.

Currently in beta testing with select customers, Titan is scheduled for full commercial launch later this year. The platform consolidates content and analytics into a single, high-performance workspace that accelerates critical decision-making. Titan differentiates through an AI-Powered experience that enables anticipatory discovery, surfacing relevant patterns before users need to search, and helping teams translate upstream market signals into faster commercial and strategic actions.

“This new strategic direction for our upstream business will allow us to transform a core part of our business and deliver enhanced value to our customers,” said Dave Ernsberger, President, S&P Global Energy. “Backed by an innovative new AI-powered platform, Titan, that will fundamentally change how our upstream data is connected and delivered, we are taking a significant leap forward in how we serve global energy markets as the most trusted provider of data and insights. These new investments could not come at a more important time as the world navigates a challenging energy environment, powered by the data and insights we provide.”

Along with launching Titan, divesting these software assets will allow S&P Global Energy to focus on providing world class data and insights and pursue a channel-agnostic approach toward the distribution of its content. As part of this transaction, S&P Global Energy will continue to distribute its leading proprietary data through the divested geoscience and petroleum engineering workflow tools. The parties have also entered an agreement to expand their partnership through further data distribution and collaboration on building new AI models to transform upstream business use cases.
 
“Unconventional markets demand speed, scale and efficiency,” said Olivier Le Peuch, Chief Executive Officer, SLB. “This software portfolio is widely used by U.S. land operators in their daily workflows. By integrating these capabilities with our industrial-scale digital platforms and AI technologies we can serve customers across the full spectrum of subsurface and planning needs.”  

SLB’s upstream energy sector tools and services are designed to deliver insights and manage data to meet diverse client needs across exploration, production, logistics, and midstream infrastructure including pipelines, storage terminals, and ports. The customers include national and international energy companies, and independents, along with midstream-downstream operating companies.

The transaction is subject to the satisfaction of customary conditions, including the receipt of regulatory approvals, and is expected to close in the second half of 2026 or early 2027. Terms of the transaction were not disclosed.

J.P. Morgan Securities LLC is acting as financial advisor to S&P Global. Ropes & Gray LLP is acting as legal advisor to S&P Global. Akin Gump Strauss Hauer & Feld LLP is acting as legal advisor to SLB.

Media Contacts:

Josh Goldstein    
S&P Global Energy  
+1 954-254-4900  
josh.goldstein@spglobal.com  

Orla O’Brien  
S&P Global  
+1 857-407-8559  
orla.obrien@spglobal.com   

About S&P Global Energy
At S&P Global Energy (formerly S&P Global Commodity Insights), our comprehensive view of global energy and commodities markets enables our customers to make superior decisions and create long-term, sustainable value. Our four core capabilities are: Platts for pricing and news; CERA for research and advisory; Horizons for energy expansion and sustainability solutions; and Events for industry collaboration.

S&P Global Energy is a division of S&P Global (NYSE: SPGI). S&P Global enables businesses, governments, and individuals with trusted data, expertise, and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive economically in a rapidly changing global landscape. Learn more at www.spglobal.com/energy

About SLB  
SLB is a global technology company that has driven energy innovation for 100 years.  With a global presence in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition.

Forward-Looking Statements: This press release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future events, trends, contingencies or results, appear at various places in this press release and use words like “anticipate,” “assume,” “believe,” “continue,” “estimate,” “expect,” “forecast,” “future,” “intend,” “plan,” “potential,” “predict,” “project,” “strategy,” “target” and similar terms, and future or conditional tense verbs like “could,” “may,” “might,” “should,” “will” and “would.” For example, management may use forward-looking statements when addressing topics such as: the outcome of contingencies; future actions by regulators; changes in the Company’s business strategies and methods of generating revenue; the development and performance of the Company’s services and products; the expected impact of acquisitions and dispositions; the Company’s effective tax rates; the Company’s cost structure, dividend policy, cash flows or liquidity; and the anticipated separation of S&P Global Mobility (“Mobility”) into a standalone public company.

Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include, among other things:

worldwide economic, financial, political, and regulatory conditions (including slower GDP growth or recession, restrictions on trade (e.g., tariffs), instability in the banking sector and inflation), and factors that contribute to uncertainty and volatility (e.g., supply chain risk), geopolitical uncertainty (including military conflict), natural and man-made disasters, civil unrest, public health crises (e.g., pandemics), and conditions that result from legislative, regulatory, trade and policy changes, including from the U.S. administration;the volatility and health of debt, equity, commodities, energy and automotive markets, including credit quality and spreads, the composition and mix of credit maturity profiles, the level of liquidity and future debt issuances, equity flows from active to passive, fluctuations in average asset prices in global equities, demand for investment products that track indices and assessments and trading volumes of certain exchange traded derivatives;the demand and market for credit ratings in and across the sectors and geographies where the Company operates;the Company’s ability to maintain adequate physical, technical and administrative safeguards to protect the security of confidential information and data, or protect against a system or network disruption that results in regulatory penalties and remedial costs or improper disclosure of confidential information or data;the outcome of litigation, government and regulatory proceedings, investigations and inquiries;concerns in the marketplace affecting the Company’s credibility or otherwise affecting market perceptions of the integrity or utility of independent credit ratings, benchmarks, indices and other services;the level of merger and acquisition activity in the United States and abroad;the level of the Company’s future cash flows and capital investments;the effect of competitive products (including those incorporating artificial intelligence (“AI”)) and pricing, including the level of success of new product developments and global expansion;the impact of customer cost-cutting pressures;a decline in the demand for our products and services by our customers and other market participants;our ability to develop new products or technologies, to integrate our products with new technologies (e.g., AI), or to compete with new products or technologies offered by new or existing competitors;the introduction of competing products (including those developed by AI) or technologies by other companies;our ability to protect our intellectual property from unauthorized use and infringement, including by others using AI technologies, and to operate our business without violating third-party intellectual property rights, including through our own use of AI in our products and services;our ability to attract, incentivize and retain key employees, especially in a competitive business environment;our ability to successfully navigate key organizational changes;the continuously evolving regulatory environment in Europe, the United States and elsewhere around the globe affecting each of our businesses and the products they offer, and our compliance therewith;the Company’s exposure to potential criminal sanctions or civil penalties for noncompliance with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which it operates, including sanctions laws relating to countries such as Iran, Russia and Venezuela, anti-corruption laws such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act of 2010, and local laws prohibiting corrupt payments to government officials, as well as import and export restrictions;the Company’s ability to make acquisitions and dispositions and successfully integrate the businesses we acquire;consolidation of the Company’s customers, suppliers or competitors;the ability of the Company, and its third-party service providers, to maintain adequate physical and technological infrastructure;the Company’s ability to successfully recover from a disaster or other business continuity problem, such as an earthquake, hurricane, flood, civil unrest, protests, military conflict, terrorist attack, outbreak of pandemic or contagious diseases, security breach, cyber attack, data breach, power loss, telecommunications failure or other natural or man-made event;the impact on the Company’s revenue and net income caused by fluctuations in foreign currency exchange rates;the impact of changes in applicable tax or accounting requirements on the Company;the separation of Mobility not being consummated within the anticipated time period or at all;the ability of the separation of Mobility to qualify for tax-free treatment for U.S. federal income tax purposes;any disruption to the Company’s business in connection with the proposed separation of Mobility;any loss of synergies from separating the businesses of Mobility and the Company that adversely impact the results of operations of both businesses, or the companies resulting from the separation of Mobility not realizing all of the expected benefits of the separation; andfollowing the separation of Mobility, the combined value of the common stock of the two publicly-traded companies not being equal to or greater than the value of the Company’s common stock had the separation not occurred.

The factors noted above are not exhaustive. The Company and its subsidiaries operate in a dynamic business environment in which new risks emerge frequently. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Further information about the Company’s businesses, including information about factors that could materially affect its results of operations and financial condition, is contained in the Company’s filings with the SEC, including Item 1A, Risk Factors in our most recently filed Annual Report on Form 10-K.

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SOURCE S&P Global

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Charter Announces First Quarter 2026 Results

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STAMFORD, Conn., April 24, 2026 /PRNewswire/ — Charter Communications, Inc. (along with its subsidiaries, the “Company” or “Charter”), which operates the Spectrum brand, today reported financial and operating results for the three months ended March 31, 2026.

First quarter Spectrum Mobile™ lines increased by 368,000 and by 1.8 million over the last twelve months. As of March 31, 2026, Charter served 12.1 million mobile lines.During the first quarter, Spectrum Internet® customers declined by 120,000. As of March 31, 2026, Charter served 29.6 million Internet customers.As of March 31, 2026, customer relationships totaled 31.7 million and connectivity customers totaled 30.5 million.First quarter revenue of $13.6 billion declined 1.0% year-over-year, primarily driven by lower residential video revenue. Residential connectivity revenue grew 0.9% year-over-year.Net income attributable to Charter shareholders totaled $1.2 billion in the first quarter.  First quarter Adjusted EBITDA1 of $5.6 billion declined 2.2% year-over-year and declined 1.8% excluding transition expenses.First quarter capital expenditures totaled $2.9 billion and included $812 million of line extensions.First quarter net cash flows from operating activities totaled $4.3 billion versus $4.2 billion in the prior year.First quarter free cash flow1 of $1.4 billion decreased from $1.6 billion in the prior year, primarily due to higher capital expenditures, partly offset by higher operating cash flow.During the first quarter, Charter purchased 4.3 million shares of Charter Class A common stock for $963 million.

“We remain confident about our ability to win in the marketplace and grow over the longer term. That confidence is founded on our advanced network, our core operating strategy of delivering great products at great prices and our focus on increasing customer satisfaction,” said Chris Winfrey, President and CEO of Charter. “As we continue to improve our products, pricing, packaging, and service, and complete our rural and network initiatives, we are poised for improving customer and free cash flow growth.”

1.

Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release.

Key Operating Results

Approximate as of

March 31, 2026 (c)

March 31, 2025 (c)

Y/Y Change

Footprint

Estimated Passings (d)

58,661

57,167

2.6 %

Customer Relationships (e)

Residential

29,452

29,914

(1.5) %

Small Business

2,231

2,246

(0.7) %

  Total Customer Relationships

31,683

32,160

(1.5) %

Residential

(157)

(50)

(107)

Small Business

(6)

(4)

(2)

  Total Customer Relationships Quarterly Net Additions

(163)

(54)

(109)

Total Customer Relationship Penetration of Estimated Passings (f)

54.0 %

56.3 %

(2.3) ppts

Monthly Residential Revenue per Residential Customer (g)

$               118.44

$               120.07

(1.4) %

Monthly Small Business Revenue per Small Business Customer (h)

$               162.71

$               161.31

0.9 %

Residential Customer Relationships Penetration (i)

One Product Penetration

47.7 %

48.9 %

(1.2) ppts

Two Product Penetration

34.8 %

33.4 %

1.4 ppts

Three or More Product Penetration

17.5 %

17.7 %

(0.2) ppts

Connectivity (j)

Residential

28,446

28,758

(1.1) %

Small Business

2,074

2,080

(0.3) %

  Total Connectivity Customers

30,520

30,838

(1.0) %

Residential

(117)

(5)

(112)

Small Business

(3)

(2)

(1)

  Total Connectivity Quarterly Net Additions

(120)

(7)

(113)

Internet

Residential

27,524

27,979

(1.6) %

Small Business

2,036

2,045

(0.5) %

  Total Internet Customers

29,560

30,024

(1.5) %

Residential

(117)

(55)

(62)

Small Business

(3)

(4)

1

  Total Internet Quarterly Net Additions

(120)

(59)

(61)

Mobile Lines (k)

Residential

11,714

10,031

16.8 %

Small Business

420

334

25.7 %

  Total Mobile Lines

12,134

10,365

17.1 %

Residential

344

488

(144)

Small Business

24

19

5

  Total Mobile Lines Quarterly Net Additions

368

507

(139)

Video (l)

Residential

12,021

12,160

(1.1) %

Small Business

524

551

(5.0) %

  Total Video Customers

12,545

12,711

(1.3) %

Residential

(51)

(167)

116

Small Business

(9)

(14)

5

  Total Video Quarterly Net Additions

(60)

(181)

121

Voice

Residential

4,665

5,372

(13.2) %

Small Business

1,207

1,234

(2.2) %

  Total Voice Customers

5,872

6,606

(11.1) %

Mid-Market & Large Business (m)

Mid-Market & Large Business Primary Service Units (“PSUs”)

360

344

4.5 %

Mid-Market & Large Business Quarterly Net Additions

3

4

(1)

In thousands, except per customer and penetration data. See footnotes to unaudited summary of operating statistics on page 7 of the addendum of this news release. The footnotes contain important disclosures regarding the definitions used for these operating statistics.  All percentages are calculated using whole numbers. Minor differences may exist due to rounding.

First quarter total Internet customers decreased by 120,000, compared to a decline of 59,000 during the first quarter of 2025. Spectrum Internet delivers the fastest Internet speeds1 in the nation. Spectrum is evolving its connectivity network to offer symmetrical and multi-gigabit Internet speeds across its entire footprint and has launched symmetrical Internet service in several markets. Spectrum expects to complete its network evolution initiative in 2027. Spectrum Advanced WiFi provides customers an optimized home network while providing greater control of connected devices with enhanced security and privacy. In February, Spectrum launched its Invincible WiFi™ product, a tri-band advanced WiFi 7 router that integrates 5G cellular and battery backup to keep customers seamlessly and fully connected during a power outage or network disruption. In the first quarter, Spectrum launched its $1,000 savings guarantee; customers signing up to Spectrum Internet and switching two or more mobile lines from Verizon, AT&T or T-Mobile are now guaranteed $1,000 of savings in their first year, or Spectrum will cover the difference.

During the first quarter of 2026, Charter added 368,000 total mobile lines, compared to growth of 507,000 during the first quarter of 2025. Spectrum Mobile offers the fastest overall speeds,2 with plans that include 5G access, do not require contracts and include taxes and fees in the price. Spectrum Mobile is central to Charter’s converged network strategy to provide customers a differentiated connectivity experience with highly competitive, simple data plans and pricing.

Total video customers decreased by 60,000 in the first quarter of 2026, compared to a decline of 181,000 in the first quarter of 2025, with the improvement driven by simplified pricing and packaging and benefits from the inclusion of programmers’ streaming applications in Spectrum’s expanded basic video packages. As of March 31, 2026, Charter had 12.5 million total video customers.

Spectrum TV Select video customers now receive up to approximately $120 per month (soon to be approximately $126 per month) of programmers’ streaming application retail value at no extra cost, including the ad-supported versions of Disney+, Hulu, ESPN Unlimited, HBO Max, Paramount+, Peacock, AMC+, ViX, Tennis Channel and Fox One, with Discovery+ launching soon. In October 2025, Spectrum unveiled the Spectrum App Store, an innovative digital marketplace where Spectrum TV customers can activate, manage and upgrade the streaming apps included with their video plans. The Spectrum App Store also allows Spectrum customers without a traditional TV package to purchase and manage streaming apps à la carte.

During the first quarter of 2026, total wireline voice customers declined by 174,000, compared to a decline of 278,000 in the first quarter of 2025. As of March 31, 2026, Charter had 5.9 million total wireline voice customers.

Charter continues to work with federal, state and local governments to bring Spectrum Internet to unserved and underserved communities. During the first quarter of 2026, Charter activated 89,000 subsidized rural passings. Within Charter’s subsidized rural footprint, total customer relationships increased by 41,000 in the first quarter of 2026.

1.

Fastest Speeds claim based on Broadband Download Speed among the top 5 national providers in Opensignal USA: Fixed Broadband Experience Report – May 2025. Based on Opensignal independent analysis of mean download speed.

2.

Fastest Wireless Speeds based on combined mean download speed results for 4G, 5G and Wi-Fi across converged users on the top 5 national providers in November 2025 report.

First Quarter Financial Results
(in millions)

Three Months Ended March 31,

2026

2025

% Change

Revenues:

  Internet

$    5,852

$    5,930

(1.3) %

  Mobile service

1,052

914

15.1 %

Connectivity

6,904

6,844

0.9 %

Video

3,252

3,580

(9.2) %

Voice

338

356

(5.0) %

Residential revenue

10,494

10,780

(2.7) %

Small business

1,090

1,088

0.2 %

Mid-market & large business

749

734

2.1 %

Commercial revenue

1,839

1,822

1.0 %

Advertising sales

358

340

5.3 %

Other

906

793

14.2 %

Total Revenues

$  13,597

$  13,735

(1.0) %

Net income attributable to Charter shareholders

$    1,163

$    1,217

(4.4) %

Net income attributable to Charter shareholders margin

8.6 %

8.9 %

Adjusted EBITDA1

$    5,637

$    5,763

(2.2) %

Adjusted EBITDA margin

41.5 %

42.0 %

Capital expenditures

$    2,855

$    2,399

19.0 %

Net cash flows from operating activities

$    4,304

$    4,236

1.6 %

Free cash flow1

$    1,372

$    1,564

(12.3) %

All percentages are calculated using whole numbers. Minor differences may exist due to rounding.

1.

Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release.

Revenues

First quarter revenue decreased by 1.0% year-over-year to $13.6 billion, driven by lower residential video revenue partly due to costs allocated to programmer streaming applications and netted within video revenue and lower residential Internet revenue, partly offset by an increase in residential mobile service revenue and higher mobile device revenue. Excluding advertising sales revenue and costs allocated to programmer streaming applications and netted within video revenue, first quarter total revenue grew by 0.1% year-over-year.

Residential revenue totaled $10.5 billion in the first quarter, a decrease of 2.7% year-over-year, driven by a year-over-year decline in residential customers of 1.5% and a decrease in monthly residential revenue per residential customer of 1.4%.

First quarter 2026 monthly residential revenue per residential customer totaled $118.44, a decrease of 1.4% compared to the prior year period. The decline was driven by a higher mix of lower priced video packages within Charter’s video customer base, $218 million of costs allocated to programmer streaming applications and netted within video revenue versus $47 million in the prior year period and a decline in video customers during the last year, partly offset by promotional rate step-ups, rate adjustments and the growth of Spectrum Mobile. Excluding costs allocated to programmer streaming applications and netted within video revenue, monthly residential revenue per residential customer increased 0.3% compared to the prior year period.

Internet revenue declined 1.3% year-over-year to $5.9 billion, driven by a decline in Internet customers year-over year, partly offset by a favorable change in bundled revenue allocation year-over-year, promotional rate step-ups and rate adjustments.

First quarter mobile service revenue totaled $1.1 billion, an increase of 15.1% year-over-year, driven by mobile line growth and rate adjustments, partly offset by less favorable bundled revenue allocation year-over-year.

Video revenue totaled $3.3 billion in the first quarter, a decrease of 9.2% compared to the prior year period, driven by a higher mix of lower priced video packages within Charter’s video customer base, $218 million of costs allocated to programmer streaming applications and netted within video revenue versus $47 million in the prior year period, more unfavorable bundled revenue allocation year-over-year and a decline in video customers during the last year, partly offset by promotional rate step-ups and video rate adjustments that pass through programmer rate increases.

Voice revenue decreased by 5.0% year-over-year to $338 million, driven by a decline in wireline voice customers, partly offset by voice rate adjustments.

Commercial revenue increased by 1.0% year-over-year to $1.8 billion, driven by mid-market and large business revenue growth of 2.1% year-over-year and an increase in small business revenue of 0.2%. Mid-market and large business revenue excluding wholesale increased by 2.8% year-over-year, mostly reflecting PSU growth. The year-over-year increase in first quarter 2026 small business revenue was driven by a 0.9% increase year-over-year in monthly small business revenue per small business customer, mostly offset by a decline in small business customer relationships year-over-year.

First quarter advertising sales revenue of $358 million increased by 5.3% compared to the year-ago quarter, primarily driven by higher political revenue. Excluding political revenue in both periods, advertising sales revenue decreased by 3.4% year-over-year driven by lower linear advertising revenue, partly offset by higher streaming advertising revenue.

Other revenue totaled $906 million in the first quarter, an increase of 14.2% compared to the first quarter of 2025, primarily driven by higher mobile device sales.

Operating Costs and Expenses

First quarter total operating costs and expenses declined 0.2% year-over-year to $8.0 billion driven by lower programming costs, mostly offset by higher other costs of revenue.

First quarter programming costs decreased by $214 million, or 9.3% as compared to the first quarter of 2025, reflecting $218 million of costs allocated to programmer streaming applications and netted within video revenue versus $47 million in the prior year period, a higher mix of lower cost packages within Charter’s video customer base and fewer video customers, partly offset by contractual programming rate increases and renewals.

Other costs of revenue increased by $181 million, or 11.4% year-over-year, primarily driven by higher mobile service direct costs, higher mobile device sales and higher advertising sales costs given higher political revenue.

Field and technology operations expenses decreased by $24 million, or 1.8% year-over-year, primarily driven by lower labor expense.

Customer operations expenses decreased by $6 million, or 0.8% year-over-year, primarily due to a decrease in bad debt expense.

Marketing and residential sales expenses decreased by $30 million or 3.2% year-over-year, due to lower marketing and labor expenses.

Transition expenses represent incremental costs incurred to prepare for the integration of the previously announced Cox transaction.

Other expenses increased by $57 million, or 5.3% as compared to the first quarter of 2025, primarily due to one-time benefits of $75 million in the prior year period.

Net Income Attributable to Charter Shareholders

Net income attributable to Charter shareholders totaled $1.2 billion in the first quarter of 2026 and 2025, with lower Adjusted EBITDA and higher depreciation and amortization, partly offset by a decrease in other operating expenses due to a non-strategic asset impairment charge in the first quarter of 2025.

Net income per basic common share attributable to Charter shareholders totaled $9.27 in the first quarter of 2026 compared to $8.59 during the same period last year. The increase was primarily the result of a 11.4% decrease in basic weighted average common shares outstanding versus the prior year period, partly offset by the factors described above.

Adjusted EBITDA

First quarter Adjusted EBITDA of $5.6 billion declined by 2.2% year-over-year, reflecting a decline in revenue of 1.0%, partly offset by a decrease in operating costs and expenses of 0.2%. Excluding transition expenses, Adjusted EBITDA declined 1.8% year-over-year.

Capital Expenditures

Capital expenditures totaled $2.9 billion in the first quarter of 2026, an increase of $456 million compared to the first quarter of 2025 given timing of spend, with higher upgrade/rebuild (primarily network evolution) and CPE, partly offset by lower line extension spend.

Charter continues to expect full year 2026 capital expenditures, excluding impacts from the previously announced Cox transaction, to total approximately $11.4 billion. The actual amount of capital expenditures in 2026 will depend on a number of factors including, but not limited to, the pace of Charter’s network evolution and expansion initiatives, supply chain timing and growth rates in Charter’s residential and commercial businesses.

Cash Flow and Free Cash Flow

During the first quarter of 2026, net cash flows from operating activities totaled $4.3 billion, an increase from $4.2 billion in the prior year. The year-over-year increase was primarily due to a less unfavorable change in working capital, partly offset by lower Adjusted EBITDA and higher cash paid for interest.

Free cash flow in the first quarter of 2026 totaled $1.4 billion, a decrease of $192 million compared to the first quarter of 2025. The year-over-year decrease in free cash flow was driven by higher capital expenditures, partly offset by a less unfavorable change in accrued expenses related to capital expenditures and higher net cash flows from operating activities.

Liquidity & Financing

As of March 31, 2026, total principal amount of debt was $94.3 billion and Charter’s credit facilities provided approximately $4.6 billion of additional liquidity in excess of Charter’s $517 million cash position.

In January 2026, CCO Holdings, LLC (“CCO Holdings”) and CCO Holdings Capital Corp. jointly issued $1.75 billion aggregate principal amount of 7.000% senior notes due February 2033 at par and $1.25 billion aggregate principal amount of 7.375% senior notes due February 2036 at par. In February 2026, CCO Holdings and CCO Holdings Capital Corp. redeemed $750 million in aggregate principal amount of the outstanding 5.500% senior notes due 2026 and $2.25 billion in aggregate principal amount of the outstanding 5.125% senior notes due 2027.

Share Repurchases

During the three months ended March 31, 2026, Charter purchased 4.3 million shares of Charter Class A common stock for $963 million.

Webcast

Charter will host a webcast on Friday, April 24, 2026 at 8:30 a.m. Eastern Time (ET) related to the contents of this release.

The webcast can be accessed live via the Company’s investor relations website at ir.charter.com. Participants should go to the webcast link no later than 10 minutes prior to the start time to register. The webcast will be archived at ir.charter.com two hours after completion of the webcast.

Additional Information Available on Website

The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2026, which will be posted on the “Results & SEC Filings” section of the Company’s investor relations website at ir.charter.com, when it is filed with the Securities and Exchange Commission (the “SEC”). A slide presentation to accompany the conference call and a trending schedule containing historical customer and financial data will also be available in the “Results & SEC Filings” section.

Use of Adjusted EBITDA and Free Cash Flow Information

The Company uses certain measures that are not defined by U.S. generally accepted accounting principles (“GAAP”) to evaluate various aspects of its business. Adjusted EBITDA and free cash flow are non-GAAP financial measures and should be considered in addition to, not as a substitute for, net income attributable to Charter shareholders and net cash flows from operating activities reported in accordance with GAAP. These terms, as defined by Charter, may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA and free cash flow are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the Addendum to this release.

Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other income (expenses), net and other operating (income) expenses, net, such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of the Company’s businesses as well as other non-cash or special items, and is unaffected by the Company’s capital structure or investment activities. However, this measure is limited in that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues and the cash cost of financing. These costs are evaluated through other financial measures.

Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.

Management and Charter’s board of directors use Adjusted EBITDA and free cash flow to assess Charter’s performance and its ability to service its debt, fund operations and make additional investments with internally generated funds. In addition, Adjusted EBITDA generally correlates to the leverage ratio calculation under the Company’s credit facilities or outstanding notes to determine compliance with the covenants contained in the facilities and notes (all such documents have been previously filed with the SEC). For the purpose of calculating compliance with leverage covenants, the Company uses Adjusted EBITDA, as presented, excluding certain expenses paid by its operating subsidiaries to other Charter entities. The Company’s debt covenants refer to these expenses as management fees, which were $366 million for both the three months ended March 31, 2026 and 2025.

About Charter

Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company with services available to nearly 59 million homes and small to large businesses across 41 states through its Spectrum brand. Founded in 1993, Charter has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, the Company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products.

More information about Charter can be found at corporate.charter.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial.  Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations.  Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under “Risk Factors” from time to time in our filings with the SEC.  Many of the forward-looking statements contained in this communication may be identified by the use of forward-looking words such as “believe,” “future,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” “aim,” “on track,” “target,” “opportunity,” “tentative,” “positioning,” “designed,” “create,” “predict,” “project,” “initiatives,” “seek,” “would,” “could,” “continue,” “ongoing,” “upside,” “increases,” “grow,” “focused on” and “potential,” among others.  Important factors that could cause actual results to differ materially from the forward-looking statements we make in this communication are set forth in our annual report on Form 10-K, and in other reports or documents that we file from time to time with the SEC, and include, but are not limited to:

our ability to sustain and grow revenues and cash flow from operations by offering Internet, mobile, video, voice, advertising and other services to residential and commercial customers, to adequately meet the customer experience demands in our service areas and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition, the need for innovation and the related capital expenditures;the impact of competition from other market participants, including but not limited to incumbent telephone companies, direct broadcast satellite (“DBS”) operators, wireless and satellite broadband and telephone providers, digital subscriber line (“DSL”) providers, fiber to the home providers and providers of video content over broadband Internet connections;general business conditions, unemployment levels and the level of activity in the housing sector and economic uncertainty or downturn;our ability to develop and deploy new products and technologies including consumer services and service platforms;any events that disrupt our networks, information systems or properties and impair our operating activities or our reputation;the effects of governmental regulation on our business including subsidies to consumers, subsidies and incentives for competitors, costs, disruptions and possible limitations on operating flexibility related to, and our ability to comply with, regulatory conditions applicable to us;our ability to procure necessary services and equipment from our vendors in a timely manner and at reasonable costs including in connection with our network evolution and rural construction initiatives;our ability to obtain programming at reasonable prices or to raise prices to offset, in whole or in part, the effects of higher programming costs (including retransmission consents and distribution requirements);the ability to hire and retain key personnel;the availability and access, in general, of funds to meet our debt obligations prior to or when they become due and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) free cash flow, or (iii) access to the capital or credit markets;our ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions;our ability to satisfy the conditions to consummate the Liberty Broadband Combination and/or the Cox Transactions and/or to consummate the Liberty Broadband Combination and/or the Cox Transactions in a timely manner or at all;the risks related to us being restricted in the operation of our business while the Liberty Broadband Merger Agreement and the Cox Communications Transaction Agreement are in effect;other risks related to the Liberty Broadband Combination as described in the definitive joint proxy statement/prospectus with respect to the Liberty Broadband Combination, filed by Charter on January 22, 2025, including the sections entitled “Risk Factors” and “Where You Can Find More Information” included therein; andother risks related to the Cox Transactions as described in the definitive proxy statement with respect to the Cox Transactions, filed by Charter on July 2, 2025, including the sections entitled “Risk Factors” and “Where You Can Find More Information” included therein.

All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement.  We are under no duty or obligation to update any of the forward-looking statements after the date of this communication.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO GAAP MEASURES

(dollars in millions)

Three Months Ended
March 31,

Last Twelve Months Ended
March 31,

2026

2025

2026

2025

Net income attributable to Charter shareholders

$      1,163

$      1,217

$       4,933

$       5,194

Plus:  Net income attributable to noncontrolling interest

200

192

787

788

  Interest expense, net

1,256

1,241

5,057

5,154

  Income tax expense

465

445

1,712

1,648

  Depreciation and amortization

2,211

2,181

8,741

8,664

  Stock compensation expense

203

222

654

659

  Other, net

139

265

698

728

Adjusted EBITDA (a)

$      5,637

$      5,763

$     22,582

$     22,835

Net cash flows from operating activities

$      4,304

$      4,236

$     16,145

$     15,454

Less:  Purchases of property, plant and equipment

(2,855)

(2,399)

(12,115)

(10,877)

  Change in accrued expenses related to capital expenditures

(77)

(273)

782

886

Free cash flow (a)

$      1,372

$      1,564

$       4,812

$       5,463

The above schedule is presented in order to reconcile Adjusted EBITDA and free cash flow, non-GAAP measures, to the most directly comparable GAAP measures in accordance with Section 401(b) of the Sarbanes-Oxley Act.

UNAUDITED ALTERNATIVE PRESENTATION OF ADJUSTED EBITDA

(dollars in millions)

Three Months Ended March 31,

2026

2025

% Change

REVENUES:

  Internet

$        5,852

$        5,930

(1.3) %

  Mobile service

1,052

914

15.1 %

Connectivity

6,904

6,844

0.9 %

Video

3,252

3,580

(9.2) %

Voice

338

356

(5.0) %

Residential revenue

10,494

10,780

(2.7) %

Small business

1,090

1,088

0.2 %

Mid-market & large business

749

734

2.1 %

Commercial revenue

1,839

1,822

1.0 %

Advertising sales

358

340

5.3 %

Other

906

793

14.2 %

Total Revenues

13,597

13,735

(1.0) %

COSTS AND EXPENSES:

Programming

2,088

2,302

(9.3) %

Other costs of revenue

1,765

1,584

11.4 %

Field and technology operations

1,258

1,282

(1.8) %

Customer operations

766

772

(0.8) %

Marketing and residential sales

919

949

(3.2) %

Transition expenses

24

n/a

Other expense (b)

1,140

1,083

5.3 %

  Total operating costs and expenses (b)

7,960

7,972

(0.2) %

Adjusted EBITDA (a)

$        5,637

$        5,763

(2.2) %

All percentages are calculated using whole numbers. Minor differences may exist due to rounding.  See footnotes on page 7.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(dollars in millions, except per share data)

Three Months Ended March 31,

2026

2025

REVENUES

$       13,597

$       13,735

COSTS AND EXPENSES:

Operating costs and expenses (exclusive of items shown separately below)

8,163

8,194

Depreciation and amortization

2,211

2,181

Other operating expenses, net

15

123

10,389

10,498

  Income from operations

3,208

3,237

OTHER INCOME (EXPENSES):

Interest expense, net

(1,256)

(1,241)

Other expenses, net

(124)

(142)

(1,380)

(1,383)

Income before income taxes

1,828

1,854

Income tax expense

(465)

(445)

Consolidated net income

1,363

1,409

Less: Net income attributable to noncontrolling interests

(200)

(192)

Net income attributable to Charter shareholders

$         1,163

$         1,217

EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHARTER SHAREHOLDERS:

Basic

$           9.27

$           8.59

Diluted

$           9.17

$           8.42

Weighted average common shares outstanding, basic

125,488,486

141,591,396

Weighted average common shares outstanding, diluted

126,849,271

144,574,684

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(dollars in millions)

March 31,

December 31

2026

2025

ASSETS

(unaudited)

CURRENT ASSETS:

Cash and cash equivalents

$               517

$               477

Accounts receivable, net

3,510

3,680

Prepaid expenses and other current assets

933

987

Total current assets

4,960

5,144

INVESTMENT IN CABLE PROPERTIES:

Property, plant and equipment, net

47,198

46,444

Customer relationships, net

324

440

Franchises

67,471

67,471

Goodwill

29,710

29,710

Total investment in cable properties, net

144,703

144,065

OTHER NONCURRENT ASSETS

4,981

5,004

Total assets

$        154,644

$        154,213

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Accounts payable, accrued and other current liabilities

$          12,375

$          12,556

Current portion of long-term debt

750

Total current liabilities

12,375

13,306

LONG-TERM DEBT

94,414

94,006

EQUIPMENT INSTALLMENT PLAN FINANCING FACILITY

1,596

1,447

DEFERRED INCOME TAXES

20,049

19,841

OTHER LONG-TERM LIABILITIES

5,140

5,094

SHAREHOLDERS’ EQUITY:

Controlling interest

16,385

16,054

Noncontrolling interests

4,685

4,465

Total shareholders’ equity

21,070

20,519

Total liabilities and shareholders’ equity

$        154,644

$        154,213

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(dollars in millions)

Three Months Ended March 31,

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Consolidated net income

$        1,363

$        1,409

Adjustments to reconcile consolidated net income to net cash flows from operating activities:

  Depreciation and amortization

2,211

2,181

  Stock compensation expense

203

222

  Noncash interest, net

6

8

  Deferred income taxes

214

(27)

  Other, net

126

233

Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:

  Accounts receivable

5

(48)

  Prepaid expenses and other assets

7

(235)

  Accounts payable, accrued liabilities and other

169

493

  Net cash flows from operating activities

4,304

4,236

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property, plant and equipment

(2,855)

(2,399)

Change in accrued expenses related to capital expenditures

(77)

(273)

Other, net

(42)

(132)

Net cash flows from investing activities

(2,974)

(2,804)

CASH FLOWS FROM FINANCING ACTIVITIES:

Borrowings of long-term debt

7,216

1,393

Borrowings of equipment installment plan financing facility

148

121

Repayments of long-term debt

(7,499)

(1,609)

Payments for debt issuance costs

(30)

Purchase of treasury stock

(1,026)

(802)

Proceeds from exercise of stock options

2

17

Purchase of noncontrolling interest

(20)

Distributions to noncontrolling interest

(2)

(3)

Other, net

(115)

(169)

Net cash flows from financing activities

(1,306)

(1,072)

NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

24

360

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period

598

506

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period

$           622

$          866

CASH PAID FOR INTEREST

$        1,067

$          995

As of March 31, 2026, December 31, 2025, March 31, 2025 and December 31, 2024, cash, cash equivalents and restricted cash includes $105 million, $121 million, $70 million and $47 million of restricted cash included in prepaid expenses and other current assets in the consolidated balance sheets, respectively.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

UNAUDITED SUMMARY OF OPERATING STATISTICS

(in thousands, except per customer and penetration data)

Approximate as of

March 31,
2026 (c)

December 31,
2025 (c)

March 31,
2025 (c)

Footprint

Estimated Passings (d)

58,661

58,399

57,167

Customer Relationships (e)

Residential

29,452

29,609

29,914

Small Business

2,231

2,237

2,246

  Total Customer Relationships

31,683

31,846

32,160

Residential

(157)

(125)

(50)

Small Business

(6)

(2)

(4)

  Total Customer Relationships Quarterly Net Additions

(163)

(127)

(54)

Total Customer Relationship Penetration of Estimated Passings (f)

54.0 %

54.5 %

56.3 %

Monthly Residential Revenue per Residential Customer (g)

$     118.44

$       117.19

$     120.07

Monthly Small Business Revenue per Small Business Customer (h)

$     162.71

$       159.85

$     161.31

Residential Customer Relationships Penetration (i)

One Product Penetration

47.7 %

48.0 %

48.9 %

Two Product Penetration

34.8 %

34.5 %

33.4 %

Three or More Product Penetration

17.5 %

17.5 %

17.7 %

Connectivity (j)

Residential

28,446

28,563

28,758

Small Business

2,074

2,077

2,080

  Total Connectivity Customers

30,520

30,640

30,838

Residential

(117)

(95)

(5)

Small Business

(3)

(2)

  Total Connectivity Quarterly Net Additions

(120)

(95)

(7)

Internet

Residential

27,524

27,641

27,979

Small Business

2,036

2,039

2,045

  Total Internet Customers

29,560

29,680

30,024

Residential

(117)

(119)

(55)

Small Business

(3)

(4)

  Total Internet Quarterly Net Additions

(120)

(119)

(59)

Mobile Lines (k)

Residential

11,714

11,370

10,031

Small Business

420

396

334

  Total Mobile Lines

12,134

11,766

10,365

Residential

344

406

488

Small Business

24

22

19

  Total Mobile Lines Quarterly Net Additions

368

428

507

Video (l)

Residential

12,021

12,072

12,160

Small Business

524

533

551

  Total Video Customers

12,545

12,605

12,711

Residential

(51)

49

(167)

Small Business

(9)

(5)

(14)

  Total Video Quarterly Net Additions

(60)

44

(181)

Voice

Residential

4,665

4,832

5,372

Small Business

1,207

1,214

1,234

  Total Voice Customers

5,872

6,046

6,606

Mid-Market & Large Business (m)

Mid-Market & Large Business Primary Service Units (“PSUs”)

360

357

344

Mid-Market & Large Business Quarterly Net Additions

3

3

4

See footnotes on page 7.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

UNAUDITED CAPITAL EXPENDITURES

(dollars in millions)

Three Months Ended March 31,

2026

2025

Customer premise equipment (n)

$          668

$          473

Scalable infrastructure (o)

310

293

Upgrade/rebuild (p)

675

395

Support capital (q)

390

360

Capital expenditures, excluding line extensions

2,043

1,521

  Subsidized rural construction line extensions

426

467

  Other line extensions

386

411

Total line extensions (r)

812

878

Total capital expenditures

$       2,855

$       2,399

Capital expenditures included in total related to:

Commercial services

$          286

$          273

Subsidized rural construction initiative (s)

$          427

$          468

Mobile

$            60

$            53

See footnotes on page 7.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

FOOTNOTES

(a)

Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other (income) expenses, net and other operating (income) expenses, net such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of our businesses as well as other non-cash or special items, and is unaffected by our capital structure or investment activities.  Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.

(b)

Other expense excludes stock compensation expense.  Total operating costs and expenses excludes stock compensation expense, depreciation and amortization and other operating (income) expenses, net.

(c)

We calculate the aging of customer accounts based on the monthly billing cycle for each account in accordance with our collection policies.  On that basis, at March 31, 2026, December 31, 2025 and March 31, 2025, customers included approximately 87,600, 82,300 and 92,200 customers, respectively, whose accounts were over 60 days past due, approximately 7,800, 9,700 and 10,700 customers, respectively, whose accounts were over 90 days past due and approximately 13,600, 13,600 and 17,000 customers, respectively, whose accounts were over 120 days past due.     

(d)

Passings represent our estimate of the number of units, such as single family homes, apartment and condominium units and small business and mid-market & large business sites passed by our cable distribution network in the areas where we offer the service indicated.  These estimates are based upon the information available at this time and are updated for all periods presented when new information becomes available. 

(e)

Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, mobile, video and voice services, without regard to which service(s) such customers receive.  Customers who reside in residential multiple dwelling units (“MDUs”) and that are billed under bulk contracts are counted based on the number of billed units within each bulk MDU.  Total customer relationships exclude mid-market & large business customer relationships.

(f)

Penetration represents residential and small business customers as a percentage of estimated passings. 

(g)

Monthly residential revenue per residential customer is calculated as total residential quarterly revenue divided by three divided by average residential customer relationships during the respective quarter.

(h)

Monthly small business revenue per small business customer is calculated as total small business quarterly revenue divided by three divided by average small business customer relationships during the respective quarter.

(i)

One product, two product and three or more product penetration represents the number of residential customers that subscribe to one product, two products or three or more products, respectively, as a percentage of residential customer relationships.

(j)

Connectivity customers represent all customers receiving our Internet and/or mobile connectivity services.

(k)

Mobile lines include phones and tablets which require one of our standard rate plans (e.g., “Unlimited” or “By the Gig”).  Mobile lines exclude wearables and other devices that do not require standard phone rate plans.

(l)

Video customers only include customers that purchase Spectrum traditional or streaming linear video packages and exclude customers that only purchase streaming applications.

(m)

Mid-market & large business PSUs represents the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU.

(n)

Customer premise equipment includes equipment and devices located at the customer’s premise used to deliver our Internet, video and voice services (e.g., modems, routers and set-top boxes), as well as installation costs.

(o)

Scalable infrastructure includes costs, not related to customer premise equipment or our network, to secure growth of new customers or provide service enhancements (e.g., headend equipment).

(p)

Upgrade/rebuild includes costs to modify or replace existing fiber/coaxial cable networks, including our network evolution initiative.

(q)

Support capital includes costs associated with the replacement or enhancement of non-network assets (e.g., back-office systems, non-network equipment, land and buildings, vehicles, tools and test equipment).

(r)

Line extensions include network costs associated with entering new service areas (e.g., fiber/coaxial cable, amplifiers, electronic equipment, make-ready and design engineering).

(s)

The subsidized rural construction initiative subcategory includes projects for which we are receiving subsidies from federal, state and local governments, excluding customer premise equipment and installation.

 

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SOURCE Charter Communications, Inc.

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KVB Futures Marks Its First Anniversary with Heartfelt CSR Initiative, Sharing Joy This Easter Season

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JAKARTA, Indonesia, April 24, 2026 /PRNewswire/ — Marking its first anniversary, KVB Futures celebrates a year of growth and milestones by hosting its inaugural Corporate Social Responsibility (CSR) initiative under the #BetterTogether vision at Yayasan Pondok Kasih Mandiri, Jakarta. Held in conjunction with Easter, the initiative reflects the company’s commitment to creating meaningful connections with the community through activities such as Easter egg colouring, a communal meal, and a donation handover to the foundation’s children.

The event was attended by President Director Tonny Fong, alongside the Compliance Director and KVB staff, highlighting KVB Futures’ commitment at the leadership level to actively contribute to social impact initiatives and community development.

“At KVB Futures, we believe that meaningful impact begins with care. This initiative reflects our responsibility to support and give back to the community, and we hope to continue creating a positive and lasting difference through our actions.”
Tonny Fong, President Director of KVB Futures.

In celebration of this first anniversary milestone, KVB Futures also introduces its Loyalty Program as a form of appreciation for its loyal clients. The program is designed to reward clients for their continuous trading activities, where each transaction contributes to earning exclusive rewards. Through this initiative, clients are encouraged to grow together with KVB Futures while enjoying additional benefits beyond the trading experience. Rewards offered under the program range from international travel, motorcycles, gold, iPhones, to vouchers reflecting the company’s commitment to delivering tangible value to its clients.

Beyond business growth, this initiative marks the beginning of KVB Futures’ long-term commitment to community engagement and sustainable impact. The company aims to continue developing meaningful programs that not only strengthen relationships with the community but also reinforce its position as a trusted, responsible, and people-first brokerage in Indonesia.

About KVB Futures

PT KVB Futures is a fully regulated brokerage under BAPPEBTI, operating in accordance with applicable regulations of OJK and Bank Indonesia (BI), and is ISO-certified to ensure high standards of security and operational excellence.

KVB Futures offers multi-asset trading services, including foreign exchange, gold, silver, oil, global stock indices, and US stock CFDs. With its KVB app at the core, KVB Futures combines innovative technology and a client-first approach to deliver a seamless, reliable, and competitive trading experience in Indonesia.

KVB Futures Contact

+62 851-1701-0756 | brand@kvb.co.id

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SOURCE KVB Futures

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