PR Newswire·Nov 6, 2026, 7:00 AM ET

Charter Announces Third Quarter 2026 Results and Launches New Operating Model

CHTR

Charter Communications announced a new operating model focused on accelerating customer growth, improving retention, and enhancing service delivery to maximize revenue per passing.
The company unveiled a $2 billion annualized expense savings plan over the next 18 months to simplify operations, in addition to over $1 billion in anticipated synergies from the Cox Transactions.
Charter completed its acquisition of Cox Communications on August 19, 2026, adding more than 11 million passings and over 5 million customer relationships to become the nation's leading internet and video provider.
On September 16, 2026, Charter launched Spectrum products, pricing, and packaging across the legacy Cox footprint, offering benefits like no data caps and free Spectrum Mobile for eligible customers.
Pro forma third-quarter 2026 revenue totaled $16.5 billion, a 1.5% year-over-year decline driven by lower residential revenue, while actual revenue increased 9.1% to $14.9 billion due to the Cox acquisition.
Pro forma net loss attributable to shareholders was $2.1 billion, primarily driven by a $6.3 billion franchise impairment charge, though this was partially offset by a gain on debt extinguishment.
Pro forma Adjusted EBITDA for the third quarter was $6.6 billion, a 4.0% decrease year-over-year, while actual Adjusted EBITDA grew 6.9% to $5.9 billion.
Internet customer counts declined by 233,000 on a pro forma basis in the third quarter, with legacy Charter losing 156,000 customers and legacy Cox losing 77,000.
Mobile lines grew by 508,000 on a pro forma basis during the quarter, bringing total mobile lines to 13.5 million as of September 30, 2026.
Video customers decreased by 77,000 in the third quarter on a pro forma basis, representing a slower decline compared to the 121,000 loss in the prior-year period.
Charter reported pro forma capital expenditures of $3.2 billion for the third quarter, down from $3.6 billion in the prior year, with full-year 2026 guidance excluding transition costs set at approximately $13.0 billion.
Actual free cash flow for the third quarter was $674 million, a decline of $947 million year-over-year, driven by lower operating cash flows and unfavorable changes in accrued capital expenditure expenses.
During the quarter, Charter exchanged $5.5 billion in secured notes for a mix of cash and new notes, resulting in approximately $1.5 billion in deleveraging, and repaid $1.0 billion of legacy Cox notes.
Charter intends to fully return legacy Cox's customer service function to U.S.-based employees within the next 18 months to improve service quality.
Total debt principal stood at $108.6 billion as of September 30, 2026, with credit facilities providing an additional $2.4 billion of liquidity beyond the $573 million cash position.

Company: Charter Communications, Inc.
Keywords: Charter Communications, Inc.