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DISH Network's third-quarter 2021 earnings of 88 cents per share missed the Zacks Consensus Estimate by a penny but increased 2.3% year over year.
Revenues decreased 1.8% year over year to $4.45 billion and beat the consensus mark by 0.3%.
Revenues from the United States fell 1.9% year over year to $4.43 billion. Revenues from Canada and Mexico increased 11.7% to $16.9 million.
Quarterly Details
Pay-TV revenues increased 0.9% year over year to $3.25 billion. DISH exited the reported quarter with 10.980 million Pay-TV subscribers, down 3.9% year over year. DISH TV subscribers declined 6% year over year to 8.424 million. Sling TV subscribers increased 4% year over year to 2.556 million.
Pay-TV ARPU increased 4.9% year over year to $96.31. Additionally, the DISH TV churn rate was 1.39% compared with the year-ago quarter’s 1.41%.
Wireless revenues were $1.23 billion, down 8.3% year over year. Wireless subscribers, at the end of the reported quarter, were 8.774 million.
Wireless ARPU was $39.25 while Wireless churn rate was 4.61% in the reported quarter.
In the third quarter, DISH TV subscriber-acquisition costs decreased 2.3% year over year to $834.
Total cost and expenses increased 0.3% year over year to $3.73 billion.
EBITDA decreased 5.5% year over year to $915.6 million.
Operating income was $717.7 million, down 11.5% year over year. Pay-TV operating income decreased 12.9% year over year to $699.7 million. Wireless operating income was $18 million compared with year-ago quarter’s income of $7.4 million.
Balance Sheet
As of Sep 30, 2021, DISH Network had cash, cash equivalents and current marketable investment securities of $5.25 billion compared with $4.82 billion as of Jun 30, 2021.
Total debt, as of Sep 30, 2021, was $16.20 billion compared with $16.23 billion as of Jun 30, 2021.
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DISH Network (DISH) Q3 Earnings Lag, Revenues Decline Y/Y
DISH Network's third-quarter 2021 earnings of 88 cents per share missed the Zacks Consensus Estimate by a penny but increased 2.3% year over year.
Revenues decreased 1.8% year over year to $4.45 billion and beat the consensus mark by 0.3%.
Revenues from the United States fell 1.9% year over year to $4.43 billion. Revenues from Canada and Mexico increased 11.7% to $16.9 million.
Quarterly Details
Pay-TV revenues increased 0.9% year over year to $3.25 billion. DISH exited the reported quarter with 10.980 million Pay-TV subscribers, down 3.9% year over year. DISH TV subscribers declined 6% year over year to 8.424 million. Sling TV subscribers increased 4% year over year to 2.556 million.
DISH Network Corporation Price and EPS Surprise
DISH Network Corporation price-eps-surprise | DISH Network Corporation Quote
Pay-TV ARPU increased 4.9% year over year to $96.31. Additionally, the DISH TV churn rate was 1.39% compared with the year-ago quarter’s 1.41%.
Wireless revenues were $1.23 billion, down 8.3% year over year. Wireless subscribers, at the end of the reported quarter, were 8.774 million.
Wireless ARPU was $39.25 while Wireless churn rate was 4.61% in the reported quarter.
In the third quarter, DISH TV subscriber-acquisition costs decreased 2.3% year over year to $834.
Total cost and expenses increased 0.3% year over year to $3.73 billion.
EBITDA decreased 5.5% year over year to $915.6 million.
Operating income was $717.7 million, down 11.5% year over year. Pay-TV operating income decreased 12.9% year over year to $699.7 million. Wireless operating income was $18 million compared with year-ago quarter’s income of $7.4 million.
Balance Sheet
As of Sep 30, 2021, DISH Network had cash, cash equivalents and current marketable investment securities of $5.25 billion compared with $4.82 billion as of Jun 30, 2021.
Total debt, as of Sep 30, 2021, was $16.20 billion compared with $16.23 billion as of Jun 30, 2021.
Zacks Rank & Stocks to Consider
DISH currently has a Zacks Rank #4 (Sell).
AMC Entertainment (AMC - Free Report) , Clarus (CLAR - Free Report) and Callaway Golf are some better-ranked stocks in the broader Consumer & Discretionary sector. All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Both AMC and Clarus are set to report their quarterly results on Nov 8. Callaway Golf is scheduled to report the same on Nov 9.