We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DISH Network’s third-quarter 2022 earnings of 65 cents per share beat the Zacks Consensus Estimate by 18.18% but decreased 26.1% year over year.
Revenues decreased 8% year over year to $4.09 billion and lagged the consensus mark by 1.29%.
Revenues from the United States fell 7.9% year over year to $4.08 billion. Revenues from Canada and Mexico decreased 23.1% to $13 million.
Quarterly Details
Pay-TV revenues decreased 4.4% year over year to $3.08 billion. DISH exited the reported quarter with 10.018 million Pay-TV subscribers, down 8.8% year over year.
DISH TV subscribers declined 9.7% year over year to 7.607 million. Sling TV subscribers decreased 5.7% year over year to 2.411 million.
DISH Network Corporation Price, Consensus and EPS Surprise
Pay-TV ARPU increased 6% year over year to $102.07. The DISH TV churn rate was 1.53% compared with the year-ago quarter’s 1.39%.
In the third quarter, DISH TV’s subscriber-acquisition costs increased 23.9% year over year to $1,033.
Wireless revenues were $1.02 billion, down 17.2% year over year. Wireless subscribers at the end of the reported quarter were 8.007 million, down 8.7% year over year.
Wireless ARPU was $37.64, whereas the Wireless churn rate was 4.28% in the reported quarter.
Total costs and expenses decreased 1.7% year over year to $3.67 billion.
Operating income was $427 million, down 40.5% year over year.
Pay-TV operating income decreased 7.4% year over year to $647.7 million. Wireless operating loss was $220.6 million against the year-ago quarter’s income of $18 million.
Balance Sheet
As of Sep 30, 2022, DISH Network had cash, cash equivalents and current marketable investment securities of $920.6 million compared with $3.23 billion as of Jun 30, 2022.
Total debt, as of Sep 30, 2022, was $19.45 billion compared with $21.09 billion as of Jun 30, 2022.
DISH announced its plan to offer $2 billion aggregate principal amount of its senior secured notes. The net proceeds of the offering are intended to be used for general corporate purposes, including the buildout of wireless infrastructure.
Zacks Rank & Other Stocks to Consider
DISH currently has a Zacks Rank #2 (Buy).
DISH shares have lost 55.1% year to date, underperforming the Zacks Consumer Discretionary sector’s decline of 36.3%.
Image: Bigstock
DISH Network (DISH) Q3 Earnings Beat, Revenues Decline Y/Y
DISH Network’s third-quarter 2022 earnings of 65 cents per share beat the Zacks Consensus Estimate by 18.18% but decreased 26.1% year over year.
Revenues decreased 8% year over year to $4.09 billion and lagged the consensus mark by 1.29%.
Revenues from the United States fell 7.9% year over year to $4.08 billion. Revenues from Canada and Mexico decreased 23.1% to $13 million.
Quarterly Details
Pay-TV revenues decreased 4.4% year over year to $3.08 billion. DISH exited the reported quarter with 10.018 million Pay-TV subscribers, down 8.8% year over year.
DISH TV subscribers declined 9.7% year over year to 7.607 million. Sling TV subscribers decreased 5.7% year over year to 2.411 million.
DISH Network Corporation Price, Consensus and EPS Surprise
DISH Network Corporation price-consensus-eps-surprise-chart | DISH Network Corporation Quote
Pay-TV ARPU increased 6% year over year to $102.07. The DISH TV churn rate was 1.53% compared with the year-ago quarter’s 1.39%.
In the third quarter, DISH TV’s subscriber-acquisition costs increased 23.9% year over year to $1,033.
Wireless revenues were $1.02 billion, down 17.2% year over year. Wireless subscribers at the end of the reported quarter were 8.007 million, down 8.7% year over year.
Wireless ARPU was $37.64, whereas the Wireless churn rate was 4.28% in the reported quarter.
Total costs and expenses decreased 1.7% year over year to $3.67 billion.
Operating income was $427 million, down 40.5% year over year.
Pay-TV operating income decreased 7.4% year over year to $647.7 million. Wireless operating loss was $220.6 million against the year-ago quarter’s income of $18 million.
Balance Sheet
As of Sep 30, 2022, DISH Network had cash, cash equivalents and current marketable investment securities of $920.6 million compared with $3.23 billion as of Jun 30, 2022.
Total debt, as of Sep 30, 2022, was $19.45 billion compared with $21.09 billion as of Jun 30, 2022.
DISH announced its plan to offer $2 billion aggregate principal amount of its senior secured notes. The net proceeds of the offering are intended to be used for general corporate purposes, including the buildout of wireless infrastructure.
Zacks Rank & Other Stocks to Consider
DISH currently has a Zacks Rank #2 (Buy).
DISH shares have lost 55.1% year to date, underperforming the Zacks Consumer Discretionary sector’s decline of 36.3%.
BJ’s Wholesale Club (BJ - Free Report) , Marriott International (MAR - Free Report) and PLAYSTUDIOS (MYPS - Free Report) are some other top-ranked stocks that investors can consider in the broader sector. All three companies currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BJ’s Wholesale Club is set to announce third-quarter 2022 results on Nov 17. BJ shares are up 13.7% year to date.
Marriott is set to announce third-quarter 2022 results on Nov 3. MAR shares have been down 8.6% year to date.
PLAYSTUDIOS is set to announce third-quarter 2022 results on Nov 8. MYPS shares are up 13.5% year to date.