Yahoo Finance DISH Network (DISH) Q1 Earnings Miss, Revenues Decline Y/Y
DISH Network’s DISH first-quarter 2023 earnings of 35 cents per share missed the Zacks Consensus Estimate by 2.39% and decreased 48.5% year over year.
Revenues declined 8.6% year over year to $3.96 billion and lagged the consensus mark by 2.39%.
Revenues from the United States fell 8.7% year over year to $3.95 billion. Revenues from Canada and Mexico increased 22% to $10.3 million.
Quarterly Details
Pay-TV revenues dipped 6.2% year over year to $2.97 billion. DISH exited the reported quarter with 9.198 million Pay-TV subscribers, down 10.2% year over year.
DISH TV subscribers declined 11.2% year over year to 7.098 million. SLING TV subscribers decreased 6.7% year over year to 2.1 million.
DISH Network Corporation Price, Consensus and EPS Surprise
DISH Network Corporation price-consensus-eps-surprise-chart | DISH Network Corporation Quote
Pay-TV ARPU increased 3.3% year over year to $102.71. The DISH TV churn rate was 1.98% compared with the year-ago quarter’s 1.59%.
In the first quarter, DISH TV’s subscriber-acquisition costs decreased 3% year over year to $1,055.
Wireless revenues were $986.3 million, down 15.4% year over year. Wireless subscribers at the end of the reported quarter were 7.913 million, declining 3.5% year over year.
Wireless ARPU was $36.43, whereas the Wireless churn rate was 4.24% in the reported quarter.
Total costs and expenses decreased 3.9% year over year to $3.63 billion.
Operating income was $323.4 million, down 41.2% year over year.
Pay-TV operating income dipped 10.2% year over year to $675.2 million. Wireless operating loss was $351.8 million compared with the year-ago quarter’s loss of $201.7 million.
Balance Sheet
As of Mar 31, 2023, DISH Network had cash, cash equivalents and current marketable investment securities of $2.54 billion compared with $2.62 billion as of Dec 31, 2022.
Total debt, as of Mar 31, 2023, was $21.46 billion compared with $21.35 billion as of Dec 31, 2022.
Zacks Rank & Stocks to Consider
DISH currently has a Zacks Rank #3 (Hold).
DISH shares have lost 49.3% year to date, underperforming the Zacks Consumer Discretionary sector’s growth of 9.9%.
BJ’s Wholesale Club BJ, PlayAGS AGS and International Game Technology IGT are some better-ranked stocks that investors can consider in the broader sector. International Game Technology sports Zacks Rank #1 (Strong Buy), and both BJ’s Wholesale Club and PlayAGS carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BJ’s Wholesale Club is set to announce first-quarter 2023 results on May 23. BJ shares have gained 13.2% year to date.
PlayAGS is set to announce first-quarter 2023 results on May 9. AGS shares have risen 4.7% year to date.
International Game Technology is set to announce first-quarter 2023 results on May 9. IGT shares have grown 20.1% year to date.
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