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.
Sirius XM Holdings Inc. (SIRI - Free Report) reported fourth-quarter 2017 financial numbers wherein the top line beat the Zacks Consensus Estimate while the bottom line was in line with the same.
Earnings per share (excluding 6 cents from non-recurring items) of 5 cents met the Zacks Consensus Estimate. However, the metric rallied 25% from the year-ago figure.
Total revenues of $1,403.9 million, climbed 7.7% year over year and also outpaced the Zacks Consensus Estimate of $1,395.4 million. The revenues beat pleased investors. As a result, the stock gained 2.7% at the close of trading session on Jan 31.
Quarterly total operating expenses were $1,007.19 million, up 3.5% year over year. Sirius XM posted record fourth-quarter adjusted EBITDA growth of 14% year over year to $542 million. The company’s average revenues per user increased 2.1% year over year to $13.43 in the fourth quarter.
At the end of the fourth quarter, Sirius XM had $541.83 million of cash from operations compared with $503.13 million in the year-ago quarter. Quarterly free cash flow was $460.32 million compared with $429.42 million in the prior-year quarter.
At the end of the quarter under review, Sirius XM had nearly $69.02 million of cash and cash equivalents and $6,741.24 million of long-term debt compared with $213.94 million and $5,842.76 million, respectively, at the end of 2016. During 2017, the company repurchased 271 million shares for $1.4 billion.
Sirius XM Holdings Inc. Price, Consensus and EPS Surprise
Quarterly subscriber revenues totaled $1,147.23 million compared with $1,084.14 million in the prior-year quarter. Advertising revenues were $42.69 million compared with $38.9 million a year ago. Equipment revenues were $39.92 million compared with $32.66 million in the year-earlier quarter. Other revenues grossed $174.06 million in the reported quarter compared with $147.29 million in the fourth quarter of 2016.
Subscriber Statistics
In the fourth quarter, Sirius XM added 569,000 net new subscribers. As a result, the total subscriber tally as of Dec 31, 2017 was up 4% year over year to 32.74 million.
Payment category wise, Self-Pay subscriber count grew 6% year over year as of Dec 31, 2017 while Paid Promotional customer count was down 3% year over year.
2018 Guidance
The company’s expectations for net subscribers, revenues, adjusted EBITDA and free cash flow in 2018 remain unchanged. It anticipates approximately 1 million self-pay net subscriber additions in 2018 while revenues of approximately $5.7 billion are predicted in the period. Adjusted EBITDA in the current year is estimated at $2.15 billion whereas free cash flow is projected at nearly $1.5 billion in 2018.
Shares of Entercom Communications, Nexstar Broadcasting Group and Sinclair Broadcast Group have gained more than 12%, 15% and 6%, respectively, in the last six months.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Sirius XM (SIRI) Q4 Earnings Meet & Rise Y/Y, View Intact
Sirius XM Holdings Inc. (SIRI - Free Report) reported fourth-quarter 2017 financial numbers wherein the top line beat the Zacks Consensus Estimate while the bottom line was in line with the same.
Earnings per share (excluding 6 cents from non-recurring items) of 5 cents met the Zacks Consensus Estimate. However, the metric rallied 25% from the year-ago figure.
Total revenues of $1,403.9 million, climbed 7.7% year over year and also outpaced the Zacks Consensus Estimate of $1,395.4 million. The revenues beat pleased investors. As a result, the stock gained 2.7% at the close of trading session on Jan 31.
Quarterly total operating expenses were $1,007.19 million, up 3.5% year over year. Sirius XM posted record fourth-quarter adjusted EBITDA growth of 14% year over year to $542 million. The company’s average revenues per user increased 2.1% year over year to $13.43 in the fourth quarter.
At the end of the fourth quarter, Sirius XM had $541.83 million of cash from operations compared with $503.13 million in the year-ago quarter. Quarterly free cash flow was $460.32 million compared with $429.42 million in the prior-year quarter.
At the end of the quarter under review, Sirius XM had nearly $69.02 million of cash and cash equivalents and $6,741.24 million of long-term debt compared with $213.94 million and $5,842.76 million, respectively, at the end of 2016. During 2017, the company repurchased 271 million shares for $1.4 billion.
Sirius XM Holdings Inc. Price, Consensus and EPS Surprise
Sirius XM Holdings Inc. Price, Consensus and EPS Surprise | Sirius XM Holdings Inc. Quote
Segment Wise Results
Quarterly subscriber revenues totaled $1,147.23 million compared with $1,084.14 million in the prior-year quarter. Advertising revenues were $42.69 million compared with $38.9 million a year ago. Equipment revenues were $39.92 million compared with $32.66 million in the year-earlier quarter. Other revenues grossed $174.06 million in the reported quarter compared with $147.29 million in the fourth quarter of 2016.
Subscriber Statistics
In the fourth quarter, Sirius XM added 569,000 net new subscribers. As a result, the total subscriber tally as of Dec 31, 2017 was up 4% year over year to 32.74 million.
Payment category wise, Self-Pay subscriber count grew 6% year over year as of Dec 31, 2017 while Paid Promotional customer count was down 3% year over year.
2018 Guidance
The company’s expectations for net subscribers, revenues, adjusted EBITDA and free cash flow in 2018 remain unchanged. It anticipates approximately 1 million self-pay net subscriber additions in 2018 while revenues of approximately $5.7 billion are predicted in the period. Adjusted EBITDA in the current year is estimated at $2.15 billion whereas free cash flow is projected at nearly $1.5 billion in 2018.
Zacks Rank & Key Picks
Sirius XM carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Entercom Communications Corporation , Nexstar Broadcasting Group, Inc. (NXST - Free Report) and Sinclair Broadcast Group, Inc. (SBGI - Free Report) , each holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Entercom Communications, Nexstar Broadcasting Group and Sinclair Broadcast Group have gained more than 12%, 15% and 6%, respectively, in the last six months.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>