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Optimum Communications (OPTU) Q1 FY2022 earnings: revenue $2.4 billion, down 2.3% on the year

Optimum Communications, Inc. (OPTU) reported revenue of $2.4 billion for Q1 FY2022, the quarter ended 31 March 2022, down 2.3% on the same quarter a year earlier as this quarter's filing gives it. Net income was $197 million, down 28.3% on the year as this quarter's filing gives it, and diluted earnings per share $0.43. The figures are the company's own, from the 10-Q it filed with the SEC on 28 April 2022.

Revenue$2.4 billiondown 2.3% on the year
Net income$197 milliondown 28.3% on the year
Diluted EPS$0.43
QuarterQ1 FY2022ended 31 March 2022

The quarter, against the one before and a year earlier

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Revenue2,4222,521n/an/a
Cost of revenue829836n/an/a
Gross profit1,5931,685n/an/a
Gross margin65.8%66.8%n/a
Operating income512599n/an/a
Operating margin21.2%23.8%n/a
Interest expense303312n/an/a
Pre-tax income285277n/an/a
Income tax82.815.9n/an/a
Effective tax rate29.1%5.8%n/a
Net income197252n/an/a
Net margin8.1%10.0%n/a
Diluted EPS$0.43$0.55n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Operating cash flow600677n/an/a
Capital expenditure392387n/an/a
Free cash flow208290n/an/a
Free cash flow margin8.6%11.5%n/a
Cash from investing-391-386n/an/a
Cash from financing-209-327n/an/a
Depreciation and amortisation435460n/an/a
Share-based compensation40.518.0n/an/a
Buybacks0.00.0n/an/a
Dividend per share$0.00n/an/an/a
Diluted shares, weighted453m462mn/an/a
Shares outstanding at period end455m455mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Shareholders' equity-581-820n/an/a
Non-controlling interest-45.5-51.1n/an/a
Redeemable equityn/a0.0n/an/a
Debt26,44126,547n/an/a
Operating lease liabilities243237n/an/a
Finance lease liabilitiesn/a110n/an/a
Other liabilities7,0877,192n/an/a
Total liabilities and equity33,14433,215n/an/a
Fixed assets6,5146,340n/an/a
Goodwill8,2068,206n/an/a
Intangible assets2,0552,202n/an/a
Cash and equivalents196196n/an/a
Receivables383407n/an/a
Other assets15,79115,864n/an/a
Total assets33,14433,215n/an/a

Questions

What was Optimum Communications' revenue in Q1 FY2022?

Optimum Communications (OPTU) reported revenue of $2.4 billion for Q1 FY2022, the quarter ended 31 March 2022, down 2.3% on the same quarter a year earlier as the company restated it.

How much did Optimum Communications earn in Q1 FY2022?

Net income for Q1 FY2022 was $197 million, down 28.3% on the year, and diluted earnings per share $0.43.

When did Optimum Communications report Q1 FY2022 results?

Optimum Communications filed its 10-Q for the quarter ended 31 March 2022 with the SEC on 28 April 2022.

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,5752,5212,4222,4632,3942,3692,2942,3242,3172,3022,2512,2412,2282,2352,1522,1472,1082,1832,0652,024
Cost of revenue844836829819782776772762751745744719711722671663639665631588
Gross profit1,7311,6851,5931,6441,6111,5931,5221,5621,5671,5561,5071,5211,5161,5131,4821,4851,4691,5181,4341,436
Gross margin67%67%66%67%67%67%66%67%68%68%67%68%68%68%69%69%70%70%69%71%
Operating income691599512522467301425482493302393502445341343311-1,165398-2,360166
Operating margin27%24%21%21%20%13%19%21%21%13%17%22%20%15%16%14%-55%18%-114%8%
Interest expense319312303n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Pre-tax income376277285147133-49.161.5135103-181-10.070.7-50.7-92.4-87.2-136-1,623-83.7-2,922-321
Tax rate28%6%29%23%27%n/a49%36%27%n/an/a69%n/an/an/an/an/an/an/an/a
Net income26725219710685.0-19325.978.366.8-118-21.215.4-43.0-54.1-75.7-96.3-1,626-71.2-2,884-292
Net margin10%10%8%4%4%-8%1%3%3%-5%-1%1%-2%-2%-4%-4%-77%-3%-140%-14%
Diluted EPS$0.58$0.55$0.43$0.23$0.19-$0.43$0.06$0.17$0.15-$0.26-$0.05$0.03-$0.09-$0.12-$0.16-$0.21-$3.47-$0.15-$6.10-$0.67
Operating cash flow698677600676629461417439474496400307436440187412147482170228
Capital expenditure309387392485494543583473353295336348359390356384326282308320
Free cash flow389290208191136-82.0-166-34.612120163.6-40.976.949.9-16928.4-178199-137-91.9
Buybacks79.40.00.00.00.00.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Shares outstanding455m455m455m455m455m456m455m455m455m456m276m276m277m279m284m284m285m287m293m284m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2022, filed 28 April 2022: the filing.