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DISH Network (DISH) Q1 Earnings Miss, Revenues Decline Y/Y

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DISH Network’s (DISH - Free Report) first-quarter 2022 earnings of 68 cents per share missed the Zacks Consensus Estimate by 1.4% and decreased 31.3% year over year.

Revenues decreased 3.7% year over year to $4.33 billion and lagged the consensus mark by 1%.

Revenues from the United States fell 3.6% year over year to $4.32 billion. Revenues from Canada and Mexico decreased 29.6% to $8.4 million.

DISH Network Corporation Price, Consensus and EPS Surprise

DISH Network Corporation Price, Consensus and EPS Surprise

DISH Network Corporation price-consensus-eps-surprise-chart | DISH Network Corporation Quote

Quarterly Details

Pay-TV revenues decreased 1.1% year over year to $3.16 billion. As of Mar 31, 2022, DISH had 10.245 million Pay-TV subscribers in the United States, including 7.993 million DISH TV subscribers and 2.252 million SLING TV subscribers.

Net pay-TV subscribers decreased by roughly 462K in the first quarter compared with a decrease of roughly 230K in the year-ago quarter.

Pay-TV ARPU increased 6.2% year over year to $99.44. Additionally, the DISH TV churn rate was 1.59% compared with the year-ago quarter’s 1.3%.

Wireless revenues were $1.16 billion, down 10% year over year. Wireless subscribers, at the end of the reported quarter, were 8.203 million.

Wireless ARPU was $37.72 while Wireless churn rate was 5.11% in the reported quarter.

In the first quarter, DISH TV subscriber-acquisition costs increased 37.7% year over year to $1,088.

Total cost and expenses increased 4% year over year to $3.78 billion.

EBITDA decreased 27.5% year over year to $753.1 million.

Operating income was $550.4 million, down 36.3% year over year. Pay-TV operating income decreased 2.7% year over year to $752 million. Wireless operating loss was $201.7 million against the year-ago quarter’s income of $91.8 million.

Balance Sheet

As of Mar 31, 2022, DISH Network had cash, cash equivalents and current marketable investment securities of $3.23 billion compared with $5.40 billion as of Dec 31, 2021.

Total debt, as of Mar 31, 2022, was $21.42 billion compared with $21.41 billion as of Dec 31, 2021.

Zacks Rank & Stocks to Consider

DISH currently has a Zacks Rank #4 (Sell).

DISH Network’s shares have tumbled 15.3% in the year-to-date period compared with the Zacks Consumer Discretionary sector’s fall of 31.4%.

Clarus (CLAR - Free Report) , Endeavor Group (EDR - Free Report) and Six Flags Entertainment (SIX - Free Report) are some better-ranked stocks in the broader Consumer & Discretionary sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Clarus is set to report its first-quarter 2022 results on May 9. Clarus stock has declined 19.3% year to date.

Endeavor Group is set to report its first-quarter 2022 results on May 22. Endeavor Group stock has declined 42.7% year to date.

Six Flag Entertainment is set to report first-quarter 2022 results on May 12. Six Flag Entertainment stock has declined 19.1% year to date.