Charter Communications reported solid Q3 2024 results with continued top-line stability and solid operating profitability, supported by a resilient broadband franchise and strengthening advertising revenue mix. Revenue reached $13.795 billion, up 1.55% year-over-year and 0.80% quarter-over-quarter, while EBITDA stood at $5.336 billion and operating income at $3.356 billion. Net income of $1.28 billion and diluted EPS of $8.82–$8.99 (basic $8.99) reflect durable profitability amid ongoing capex and program investments.
The quarter showcased healthy operating discipline, with gross margin at roughly 40.4% and operating margin around 24.3%, underscoring the business’s ability to translate scale into earnings. Free cash flow (FCF) was $1.342 billion as cash flow from operations was $3.905 billion and capital expenditures were $2.563 billion, yielding positive FCF despite aggressive network investment. The balance sheet remains highly leveraged, with total debt near $96.3 billion and net debt around $95.6 billion, translating to a debt-to-capitalization of ~87% and an interest coverage of 2.6x. The company ended the period with cash and cash equivalents of $0.75 billion. Management commentary on capex cadence, debt management, and strategic initiatives remains a key driver of the investment thesis, though explicit forward-looking guidance is not included in the provided data. Overall, Charter’s core asset base and cash-generation profile justify a constructive view, balanced against elevated leverage and growth capex commitments.