Altice USA, Inc.

Hello, and welcome to the Altice USA Q3 2022 earnings conference call and webcast. At this time, all participants are in listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Nick Brown. Please go ahead.

Hello, everyone. Thanks for joining. Today we're joined by Altice USA's Executive Chairman, Dexter Goey, and CFO, Mike Graw, and we're delighted to introduce our new CEO, Dennis Matthew, who together will take you through the presentation, and then we'll have time for Q&A. As today's presentation may contain forward-looking statements, please read the disclaimer on slide two. Dexter, please go ahead.

Hello, everyone. Kicking off with the summary of our third quarter performance on slide three, Revenue declined 7% year-over-year, mainly driven by pressure in our residential and advertising businesses, as well as the loss of Airstrand revenue in the prior year after the termination of our legacy Sprint contract. Excluding Airstrand revenue, the revenue decline would have been just 4.3% year-over-year. Q3 adjusted EBDA declined 18.1% year-over-year, with a margin of 39.9%, or down 12.7%, excluding Airstrand revenue. reflecting both the revenue decline and higher OPEX to drive future growth. Residential broadband customer net losses were $43,000 for Q3, which was relatively in line with the losses in Q2, as the lower market activity, environment, and current competitive pressures impacted the pace at which our growth initiatives are materializing. Free cash flow remained solid, even with our elevated fiber investments, generating $136 million in Q3 and $535 million to date. Our optimum fiber network deployment continues to accelerate, rolling out at the fastest quarterly pace to date, adding 321,000 new fiber passings in the quarter. We also added 31,000 fiber customers in Q3 and expect to continue to grow at an accelerated pace through both gross additions and migrations of existing customers to our fiber network. We continue to advance the pace of our new builds and expand our sales distribution channels, including the opening of several more Optum stores across the country, both of which support future customer growth. And finally, I'd like to welcome our new CEO, Dennis Matthew, who formally joined us exactly one month ago today. Before I turn it over to Dennis, I want to share that leading out TCUSA has been the most rewarding experience in my career. and I could not be prouder of what we accomplished together thanks to leadership and the thousands of dedicated employees across the country who enthusiastically serve our customers and communities every day. The decision to step away from the CEO role at this time was a difficult one, but based on personal reasons, as my family and I would like to move back to Europe. But having found Dennis to take the reins at LTCUSA, I couldn't be more optimistic about the company's future, and I'm confident it is in good hands. Dennis is a great operator with a proven track record, an exceptional leader and team player, and in just a few short weeks has acclimated incredibly well across the Altice leadership team, frontline workforce, and broader organization. As we look ahead following the transition period we're in now, I will remain involved with Altice USA's Executive Chairman with a focus on strategic opportunities for the company. With that, I'd like to hand this over to Dennis to say a few words about himself.