Charter Communications Inc Q1 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Craig Moffett - MoffettNathanson - Analyst : Two questions, if I could. First, can you just talk about the differences that you're seeing in the converged households where you've got wireless now. And if you could also, by the way, update us on what the attach rate is since we have individual lines, but not penetration of households. But what kind of differences are you seeing in churn rate? Is wireless really benefiting your broadband numbers now that it's reached some level of scale? And then just quickly, Jessica, perhaps you could just let us know whether you think tariffs will have any impact on capital spending and your ability and cost of securing equipment for capital projects.

Question: John Hodulik - UBS Equities - Analyst : Chris, could you update us on the rollout of seamless entertainment? I think we were waiting for some progress on the digital storefront and folding in some new apps. But just any help you can give in terms of the timing. What that product will look like? And it seems as if you guys are expecting some further improvement in some of your underlying KPIs, whether it's video or broadband. So could you flesh that out a little bit? Or is there a way to size the impact that we can expect to see? Thanks.

Question: John Hodulik - UBS Equities - Analyst : Do you think the launch of the service also will benefit the trends on the broadband side along with video? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 25, 2025 / 12:30PM, CHTR.OQ - Q1 2025 Charter Communications Inc Earnings Call

Question: Ben Swinburne - Morgan Stanley - Analyst : Can you hear me?

Question: Ben Swinburne - Morgan Stanley - Analyst : Great. Chris, I'm sure you're aware, there's a lot of folks right now and certainly in the investment community and the industry on kind of promotions and promotional roll off. This is not new, but something that Charter has been doing for a long time. We can sort of see in your results now, I think the success you're having in kind of rolling off some of the Spectrum One promotions and driving faster revenue growth in mobile and broadband. I'm just wondering if you could talk about why it's working well for you in this environment? And maybe more importantly, why you think you can continue to execute that approach with your new Life Unlimited plans in a market that seems to be increasingly focused on kind of price locks and all-in pricing. And I guess, your confidence that it's the right strategy because the revenues are there. As you can tell from the questions, people are still looking for broadband to get better on the KPI front. But I'd love to just get your thoughts given where we are in the market around from a roll-off pricing and packaging in the competitive environment. And I just wanted to ask, Jessica, anything you want to give us in terms of OpEx outlook for the year that's different from the end of the fourth quarter call, speaking maybe cost to service and other expenses going to be trending nicely for you year on year? Just any update, if you have any, would be helpful. Thanks so much. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 25, 2025 / 12:30PM, CHTR.OQ - Q1 2025 Charter Communications Inc Earnings Call

Question: Ben Swinburne - Morgan Stanley - Analyst : Yeah.

Question: Jonathan Chaplin - New Street Research - Analyst : Sorry, can you hear me now?

Question: Jonathan Chaplin - New Street Research - Analyst : Sorry about that. Chris, I'd love to just delve a little bit more into the Life Unlimited pivot that you guys made back in September. I think this is sort of a really important moment for the company. And when we look at our Recon analytics data on NPS, it looks like there's a steady improvement since September. And I'd love to get a perspective of how that sort of matches your internal tracking. And then I know that you said in response to the earlier question, the real benefits we'll see over time, but I'm wondering what sort of you're seeing in early life churn on the customers that are on the Life Unlimited package relative to what you've seen before and sort of signals that give you confidence in that future improvement?

Question: Jonathan Chaplin - New Street Research - Analyst : And Chris, if there's no change in market growth or the competitive environment from what we're seeing right now, the improvements that you expect in year two, three, four, et cetera, do you think those are enough to get you back to positive broadband subscriber growth?

Question: Jim Schneider - Goldman Sachs - Analyst : I was wondering if you can maybe give us a bit of an update on what you see in terms of the broader consumer behavior in your base. One of your peers sort of called out higher mobile substitution in some of their cohorts. I'm wondering if you're seeing any of those effects. But then more broadly, maybe talk about any consumer trade-down effects pressuring credit metrics, although they didn't seem to show up this quarter in any way. Just kind of wondering what you're hearing anecdotally from the consumer side based on all the sort of macro uncertainty we have right now. Thank you.

Question: Bryan Kraft - Deutsche Bank - Analyst : Can you hear me okay? I just have a question on fiber competition. Would you be able to give us a sense for the difference in your broadband penetration levels in markets where you've competed with fiber for a long time relative to the non-fiber markets? Are you splitting the market 50/50 in those areas after you kind of take out the portion captured by fixed wireless at this point? And also specifically in the older markets, has it been stable as of late? Or is competitive fiber still gaining share in those areas? Just trying to get some more color there, if you wouldn't mind sharing that. Thank you.