Sirius XM Holdings Inc Q2 2023 Earnings Call Summary - Thomson StreetEvents

Sirius XM Holdings Inc Q2 2023 Earnings Call Summary

Sirius XM Holdings Inc Q2 2023 Earnings Call Summary - Thomson StreetEvents
Sirius XM Holdings Inc Q2 2023 Earnings Call Summary
Published Aug 01, 2023
11 pages (6780 words) — Published Aug 01, 2023
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Abstract:

Edited Brief of SIRI.OQ earnings conference call or presentation 1-Aug-23 12:00pm GMT

  
Brief Excerpt:

...A. We're pleased with our accomplishments this quarter and remain on track to meet the guidance we set forward for the 2023 fiscal year, including our newly increased free cash flow guidance. B. Our strong second quarter performance reflected most prominently in our EBITDA growth, significant cash generation and sustained low churn at 1.5%, reaffirms our consumer value proposition and the enduring appeal of our differentiated business model in audio entertainment. C. We closed the quarter with over 34 million total subscribers to our flagship SiriusXM service and as we expected, we saw a meaningful sequential improvement in self-pay net subscriber additions compared to the first quarter. D. The improvement in auto trial starts that began in the first quarter continued into the second quarter and while producing an increase in vehicle-related churn still sets us up for continued improvements in subscriber performance and a positive back half of the year. E. I'm also pleased to report our...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Sirius XM Holdings Inc
Ticker
SIRI.OQ
Time
12:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Sebastiano Carmine Petti - JPMorgan Chase & Co, Research Division - Analyst : I just wanted to clarify on the advertising front. Has your expectation for the second half changed relative to maybe what you had been messaging on the first quarter in terms of just the second half recovery, obviously, things are choppy, but I just wasn't sure if we now expect more of the year-on-year improvement or just benefits of the broader markets and being more weighted into '24? And then I have a quick follow-up as well.

Question: Sebastiano Carmine Petti - JPMorgan Chase & Co, Research Division - Analyst : That's helpful. And just zooming out real quick, if I could. I think, Jennifer, you described it as a strategic transition with the business and so, there are some onetime costs that Sirius wearing this year. You have the reduction in force. It sounds like there's an eye towards additional efficiencies in the business here. But how should we think about -- I guess, if you can provide some high-level thoughts on where -- the growth algorithm for the business on a go-forward basis, if we think out 12, 24 months from here, Sirius has a high-growth capital return story, free cash flow machine. I mean has the growth algorithm changed? How are you thinking REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 01, 2023 / 12:00PM, SIRI.OQ - Q2 2023 Sirius XM Holdings Inc Earnings Call about, I guess, the Ps and Q of the business and the free capital profile on the other side of this transition as you kind of attack these new cohorts and podcasting and advertising scale as a percentage of the business?

Table Of Contents

Sirius XM Holdings Inc Corporate Call Summary – 2023-11-08 – US$ 54.00 – Edited Brief of SIRI.OQ conference call or presentation 8-Nov-23 4:00pm GMT

Sirius XM Holdings Inc Q3 2023 Earnings Call Summary – 2023-10-31 – US$ 54.00 – Edited Brief of SIRI.OQ earnings conference call or presentation 31-Oct-23 12:00pm GMT

Sirius XM Holdings Inc Q3 2023 Earnings Call Transcript – 2023-10-31 – US$ 54.00 – Edited Transcript of SIRI.OQ earnings conference call or presentation 31-Oct-23 12:00pm GMT

Sirius XM Holdings Inc at Bank of America Media, Communications and Entertainment Conference Transcript – 2023-09-14 – US$ 54.00 – Edited Transcript of SIRI.OQ presentation 14-Sep-23 2:30pm GMT

Sirius XM Holdings Inc Q2 2023 Earnings Call Transcript – 2023-08-01 – US$ 54.00 – Edited Transcript of SIRI.OQ earnings conference call or presentation 1-Aug-23 12:00pm GMT

Sirius XM Holdings Inc at JPMorgan Global Technology, Media and Communications Conference Summary – 2023-05-22 – US$ 54.00 – Edited Brief of SIRI.OQ presentation 22-May-23 2:00pm GMT

Sirius XM Holdings Inc at JPMorgan Global Technology, Media and Communications Conference Transcript – 2023-05-22 – US$ 54.00 – Edited Transcript of SIRI.OQ presentation 22-May-23 2:00pm GMT

Sirius XM Holdings Inc Q1 2023 Earnings Call Transcript – 2023-04-27 – US$ 54.00 – Edited Transcript of SIRI.OQ earnings conference call or presentation 27-Apr-23 12:00pm GMT

Sirius XM Holdings Inc at Morgan Stanley Technology, Media & Telecom Conference Transcript – 2023-03-07 – US$ 54.00 – Edited Transcript of SIRI.OQ presentation 7-Mar-23 11:20pm GMT

Sirius XM Holdings Inc at Deutsche Bank Media, Internet & Telecom Conference Transcript – 2023-02-28 – US$ 54.00 – Edited Transcript of SIRI.OQ presentation 28-Feb-23 7:40pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "Sirius XM Holdings Inc Q2 2023 Earnings Call Summary" Aug 01, 2023. Alacra Store. May 15, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Sirius-XM-Holdings-Inc-Earnings-Call-B15643657>
  
APA:
Thomson StreetEvents. (2023). Sirius XM Holdings Inc Q2 2023 Earnings Call Summary Aug 01, 2023. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Sirius-XM-Holdings-Inc-Earnings-Call-B15643657>
  
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