Cable One, Inc. reported a net loss of $105.2 million, or $18.71 per share, for the fourth quarter of 2024, a significant decrease from a net income of $103.5 million in the prior year quarter. Total revenues for Q4 2024 decreased by 6.0% year-over-year to $387.2 million.
For the full year 2024, total revenues decreased by 5.9% to $1.58 billion, and net income was $14.5 million, down from $224.6 million in 2023. Residential data revenues decreased by 5.4% in Q4 and 5.5% for the full year, primarily due to a 5.0% decrease in ARPU in Q4 and subscriber reductions from the Affordable Connectivity Program expiration.
Business data revenues showed growth, increasing by 2.3% in Q4 and 2.6% for the full year 2024. Adjusted EBITDA for Q4 was $211.0 million, a 7.0% decrease year-over-year, while full-year Adjusted EBITDA was $854.0 million, down 6.9%.
Capital expenditures for Q4 2024 totaled $71.9 million, a 37.8% decrease from Q4 2023, and full-year capital expenditures were $286.4 million, down 22.8% from 2023. The company's net cash provided by operating activities increased by 10.5% in Q4 to $167.6 million and remained flat for the full year at $664.1 million.
As of December 31, 2024, Cable One had $153.6 million in cash and cash equivalents and total debt of $3.62 billion. The company amended its credit agreement in October 2024, increasing its revolving credit facility capacity by $250.0 million to $1.25 billion, with $937.0 million available for borrowing at year-end.
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