Cincinnati Bell Turns A Corner
An Interesting Turnaround Is Happening At Cincinnati Bell
Mike Arnold • 14 Comments
Mike Arnold • 14 Comments
Thu, May 5, 7:17 AM
Wed, May 4, 5:30 PM
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Wed, Apr. 13, 6:39 PM
- Cincinnati Bell (NYSE:CBB) has established a new unit, Cincinnati Bell Business, in order to serve small and medium business in the Cincinnati area.
- That means a universe of about 50,000 customers, CB's Greg Wheeler tells the Cincinnati Business Courier. "The approach we need to take going forward is to recognize the IT community that supports them. For too long Cincinnati Bell has ignored those IT vendors, and we're really committed to rebuilding that program."
- CBTS would have served those customers before, but is better suited for bigger enterprises.
- The new division will offer remotely hosted cloud voice services along with conferencing capabilities, high-speed Internet, and public and private Wi-Fi, as well as a chance to market on the company's Connect Cincinnati free Wi-Fi mobile app.
- Now read Cincinnati Bell: Strong Growth, Improving Fundamentals, Declining Share Price »
Fri, Feb. 19, 2:57 PM
- Despite some success with its Fioptics offering -- record-high activations and 34% higher revenue in Q4 -- Cincinnati Bell (CBB +0.3%) will slow its fiber-to-the-home expansion next year as penetration grows.
- The build is "100% success-based," says CEO Ted Torbeck, "and as long as we see the returns that are appropriate we're going to continue to build ... We anticipate by the end of the year we'll be somewhere over 60 percent and we fully anticipate that we'll be getting close to the upper range where in 2017 our build will decline significantly."
- Costs are also growing as the build gets more complete. Once margins drop far enough, the company will stop building, Torbeck says.
- The company's Fioptics video subscribers grew by 5,600 in Q4 to a total of 114,400 (25% higher than 2014's end). Fioptics Internet subscribers were up 35% to a record 153,700.
- For the full year, the company passed 97,000 units with Fioptics, and the suite of products is now available to 432,000 customers, "53% of greater Cincinnati."
- Previously: Cincinnati Bell -9.3% despite Q4 revenue beat (Feb. 18 2016)
- Related: Cincinnati Bell's (NYSE:CBB) CEO Ted Torbeck on Q4 2015 Results - Earnings Call Transcript (Feb. 18 2016)
Thu, Feb. 18, 11:25 AM
- Cincinnati Bell (NYSE:CBB) has dipped 9.3% today following a Q4 report where revenues that fell 2% still beat expectations.
- Revenues in its Entertainment and Communications segment that were flat for the quarter still grew annually for the second straight year. Full-year EBITDA was $302M, above an expected $293.3M.
- Revenue by segment: Entertainment and Communications, $187.8M (flat); IT Services and Hardware, $104.5M (down 5%).
- Proceeds from monetizing the company's investment in CyrusOne came to $644M during the year, after the company monetized 1.4M common shares in Q4 for $48M in cash.
- Its remaining investment in CyrusOne, about 9.5%, is valued about $250M.
- It's guiding to 2016 revenues of $1.2B, and adjusted EBITDA of $297M-$309M.
- Press Release
Thu, Feb. 18, 7:36 AM
Wed, Feb. 17, 5:30 PM
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Dec. 31, 2015, 2:36 PM
- In a continuation of a separation process from CyrusOne (CONE -0.2%), Cincinnati Bell (CBB +1.1%) says in an 8-K that one of its subsidiaries exchanged all of its operating partnership units (6,346,835 of them) in CyrusOne for the same number in newly issued shares of common stock.
- The move means that Cincinnati Bell no longer holds any operating partnership units in the data-center operator
- Cincinnati Bell maintains about a 9.5% stake in CyrusOne, only now all in common stock.
- CyrusOne has been gradually buying out its relationship with Cincinnati Bell at various points throughout the year.
Dec. 14, 2015, 5:15 PM
- Cincinnati Bell (CBB -3.7%) has closed a secondary offering of its stock in CyrusOne (CONE -1%), for net proceeds of about $47.6M.
- The company offered 1.35M shares. After the offering, Cincinnati Bell maintains about a 9.5% stake in the data center operator through common and exchangeable shares.
- CyrusOne has been gradually buying its way out of its relationship with Cincinnati Bell through a number of transactions.
Dec. 8, 2015, 4:26 PM
- Cincinnati Bell (CBB +4.2%) plans a sale of 1.35M shares of CyrusOne (NASDAQ:CONE) in a public offering to close Dec. 14.
- With CONE at $36, that comes to just under $50M before expenses. Cincinnati Bell says it plans to use proceeds for general purposes.
- The move should leave Cincinnati Bell with about a 9.5% stake in CyrusOne via common shares and its stake in exchangeable units of CyrusOne's limited partnership.
- Cincinnati Bell has been steadily divesting the partnership, with CyrusOne buying out parts of it earlier this year.
Nov. 4, 2015, 2:16 PM
- Cincinnati Bell (NYSE:CBB) has dipped 6.3% after Q3 results where the company beat expectations, though costs rose in its Entertainment & Communications segment and revenues slipped for IT Services and Hardware.
- Revenue overall was down 0.5%, but rose slightly after excluding revenue from services provided to the discontinued wireless business. Income from continuing operations of $79M got a $118M boost from the sale of 6M CyrusOne partnership units.
- Revenue by segment: Entertainment & Communications, $185.4M (up 1%); IT Services and Hardware, $117M (down 3%).
- The company's Fioptics video and Internet net activations both increased more than 30%. It added 21,000 new video subscribers Y/Y (ending with 108,800) and 10,800 Internet subscribers (ending with 281,300).
- It reiterated full-year guidance for revenue of $1.1B (vs. consensus of $1.137B) and EBITDA of $297M (above an expected $291.3M).
Nov. 4, 2015, 7:21 AM
- Cincinnati Bell (NYSE:CBB): Q3 EPS of $0.37 beats by $0.34.
- Revenue of $299.8M (-0.5% Y/Y) beats by $18.69M.
Nov. 3, 2015, 5:30 PM
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Jul. 30, 2015, 11:05 AM
- Cincinnati Bell (NYSE:CBB) is down 1.9% this morning after results that were largely in line considering the effects of its continuing divestment of its partnership with CyrusOne.
- Net income of $191.6M (including income from discontinued operations) was up 68%. The company took a $295M gain on the sale of 14M partnership units in CyrusOne. Adjusted EBITDA of $75M beat an expected $73.4M.
- Revenue by segment: Entertainment and Communications, $182.4M (down 1%); IT Services and Hardware, $106.3M (up 5%).
- Total voice lines declined to 535,600 from Q1's 537,400 and a year-ago 562,300. Of those, business voice lines did increase to 309,900 from Q1's 306,900. Internet subscribers increased to 275,100 (142,700 DSL, 132,400 Fioptics) from Q1's 272,700 and a year-ago 270,300.
- The company reaffirmed full-year guidance of $1.1B in revenues (light of consensus expectations of $1.14B) and adjusted EBITDA of $297M, plus or minus 2% (vs. an expected $295.1M).
Jul. 30, 2015, 7:40 AM
- Cincinnati Bell (NYSE:CBB): Q2 EPS of $0.01 beats by $0.03.
- Revenue of $285.8M (+1.0% Y/Y) beats by $5.21M.
Jul. 29, 2015, 5:30 PM
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Cincinnati Bell, Inc. engages in the provision of providing entertainment, data and voice communications services over wire line and wireless networks. It operates through Entertainment and Communications, and Information Technology (IT) Services and Hardware segment. The Entertainment and... More
Industry: Telecom Services - Domestic
Country: United States
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