It has been about a month since the last earnings report for Dish Network . Shares have added about 16.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Dish due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
DISH Network Q1 Earnings Miss, Revenues Decline Y/Y
DISH Network’s first-quarter 2023 earnings of 35 cents per share missed the Zacks Consensus Estimate by 2.39% and decreased 48.5% year over year.
Revenues declined 8.6% year over year to $3.96 billion and lagged the consensus mark by 2.39%.
Revenues from the United States fell 8.7% year over year to $3.95 billion. Revenues from Canada and Mexico increased 22% to $10.3 million.
Quarterly Details
Pay-TV revenues dipped 6.2% year over year to $2.97 billion. DISH exited the reported quarter with 9.198 million Pay-TV subscribers, down 10.2% year over year.
DISH TV subscribers declined 11.2% year over year to 7.098 million. SLING TV subscribers decreased 6.7% year over year to 2.1 million.
Pay-TV ARPU increased 3.3% year over year to $102.71. The DISH TV churn rate was 1.98% compared with the year-ago quarter’s 1.59%.
In the first quarter, DISH TV’s subscriber-acquisition costs decreased 3% year over year to $1,055.
Wireless revenues were $986.3 million, down 15.4% year over year. Wireless subscribers at the end of the reported quarter were 7.913 million, declining 3.5% year over year.
Wireless ARPU was $36.43, whereas the Wireless churn rate was 4.24% in the reported quarter.
Total costs and expenses decreased 3.9% year over year to $3.63 billion.
Operating income was $323.4 million, down 41.2% year over year.
Pay-TV operating income dipped 10.2% year over year to $675.2 million. Wireless operating loss was $351.8 million compared with the year-ago quarter’s loss of $201.7 million.
Balance Sheet
As of Mar 31, 2023, DISH Network had cash, cash equivalents and current marketable investment securities of $2.54 billion compared with $2.62 billion as of Dec 31, 2022.
Total debt, as of Mar 31, 2023, was $21.46 billion compared with $21.35 billion as of Dec 31, 2022.
How Have Estimates Been Moving Since Then?
It turns out, estimates review flatlined during the past month.
The consensus estimate has shifted 10.28% due to these changes.
VGM Scores
Currently, Dish has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Dish has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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It has been about a month since the last earnings report for Dish Network . Shares have added about 16.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Dish due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
DISH Network Q1 Earnings Miss, Revenues Decline Y/Y
DISH Network’s first-quarter 2023 earnings of 35 cents per share missed the Zacks Consensus Estimate by 2.39% and decreased 48.5% year over year.
Revenues declined 8.6% year over year to $3.96 billion and lagged the consensus mark by 2.39%.
Revenues from the United States fell 8.7% year over year to $3.95 billion. Revenues from Canada and Mexico increased 22% to $10.3 million.
Quarterly Details
Pay-TV revenues dipped 6.2% year over year to $2.97 billion. DISH exited the reported quarter with 9.198 million Pay-TV subscribers, down 10.2% year over year.
DISH TV subscribers declined 11.2% year over year to 7.098 million. SLING TV subscribers decreased 6.7% year over year to 2.1 million.
Pay-TV ARPU increased 3.3% year over year to $102.71. The DISH TV churn rate was 1.98% compared with the year-ago quarter’s 1.59%.
In the first quarter, DISH TV’s subscriber-acquisition costs decreased 3% year over year to $1,055.
Wireless revenues were $986.3 million, down 15.4% year over year. Wireless subscribers at the end of the reported quarter were 7.913 million, declining 3.5% year over year.
Wireless ARPU was $36.43, whereas the Wireless churn rate was 4.24% in the reported quarter.
Total costs and expenses decreased 3.9% year over year to $3.63 billion.
Operating income was $323.4 million, down 41.2% year over year.
Pay-TV operating income dipped 10.2% year over year to $675.2 million. Wireless operating loss was $351.8 million compared with the year-ago quarter’s loss of $201.7 million.
Balance Sheet
As of Mar 31, 2023, DISH Network had cash, cash equivalents and current marketable investment securities of $2.54 billion compared with $2.62 billion as of Dec 31, 2022.
Total debt, as of Mar 31, 2023, was $21.46 billion compared with $21.35 billion as of Dec 31, 2022.
How Have Estimates Been Moving Since Then?
It turns out, estimates review flatlined during the past month.
The consensus estimate has shifted 10.28% due to these changes.
VGM Scores
Currently, Dish has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Dish has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>