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Sirius XM Holdings Inc. (SIRI)

  • Thu, Nov. 12, 2:56 PM
    • Sirius XM (SIRI -0.6%) says it's hoping to get a renewal from flagship radio host Howard Stern next month when his contract expires, but at least the company knows what it comes down to: money.
    • Speaking from the investor day of majority owner Liberty Media (LMCA +1.8%), Sirius chief James Meyer said he's happy with the show's quality and the two sides disagree on just "one thing," the valuation of the new deal. Stern is estimated to get about $80M/year currently.
    • Buybacks (currently about $2B worth a year) are the "best use of our capital," Meyer says. "We just haven't found anything that magically fits" in the space where acquisitions are clearly strategic or clearly accretive, he says.
    • Earlier, Liberty Media said it would recapitalize into three tracking stocks, one of which will be Liberty Sirius Group to track its 60.7% holding in Sirius XM.
    • Previously: Liberty Media to recapitalize into three tracking stock groups (Nov. 12 2015)
    | Thu, Nov. 12, 2:56 PM | 37 Comments
  • Wed, Aug. 26, 4:27 PM
    • Sirius XM (NASDAQ:SIRI) is up 1.3% after hours (adding on to today's 2.5% gain) as it adds another $2B onto its stock repurchase authorization.
    • That lifts the buyback authorization to a lofty $8B. An initial $2B authorization in December 2012 was supplemented with $2B additions in October 2013 and July 2014.
    • The company says it's got sufficient capital capacity to return value to shareholders while making long-term investments and pursuing strategic opportunities.
    • Most recently, the company reported $294M cash against total debt of $5.1B.
    | Wed, Aug. 26, 4:27 PM | 20 Comments
  • Tue, Jul. 28, 8:56 AM
    • Sirius XM (NASDAQ:SIRI) is up 3.1% premarket after growing revenues and subscribers in Q2, and raising guidance across the board for the full year.
    • Revenues that grew nearly 8% led to net income of $103M, including a pretax $108M royalty litigation settlement. Adjusted net income was $170M (up 29%). EBITDA of $415M (up 12%) was a quarterly record and beat an expected $412M.
    • Revenue by segment: Subscriber revenue, $940M (up 7.1%); advertising revenue, $28.8M (up 13.1%); equipment revenue, $29.3M (up 6%); other revenue, $125M (up 20.1%).
    • It added 692K net new subscribers (up 46% Y/Y); 519K self-pay net new adds were up 36.6%. Paid subscribers rose to 28.4M and self-pay subscribers to 23.4M (record highs).
    • After "phenomenal on all fronts" performance in the first half, it's guiding for increases across the board for 2015: total net sub adds of 1.8M (1.6M net self-pay adds); revenue of $4.5B (in line) and EBITDA of about $1.62B (vs. an expected $1.645B), and free cash flow of about $1.3B. It's the second time the company has raised guidance this year for subscriber growth.
    • Press Release
    | Tue, Jul. 28, 8:56 AM | 62 Comments
  • Thu, Apr. 2, 3:31 PM
    • Sirius XM (NASDAQ:SIRI) is up 2.2% today as Nissan rolled out new vehicles for 2016, some of which will feature a new Sirius telematics program.
    • The platform will feature vehicle security, vehicle health monitoring, remote access and more across three tiers of service. The highest tier will add to basics like emergency services with destination services including search and journey planning.
    • Sirius XM also has telematics partnerships with other major manufacturers, including Acura, BMW, Honda, Hyundai, Infiniti, and Toyota and Lexus.
    • Previously: New York Auto Show: Nissan talks capacity, unveils Maxima (Apr. 02 2015)
    | Thu, Apr. 2, 3:31 PM | 12 Comments
  • Thu, Feb. 5, 9:13 AM
    • Sirius XM (NASDAQ:SIRI) reported a Q4 beat on top and bottom lines as subscribers grew to 27.3M total (up from prior year 25.6M).
    • Net subscriber adds in quarter of 576.7K. Self-pay net adds were 508K, up from prior year's 411.5K.
    • Monthly churn down slightly to 1.8%.
    • Free cash flow reached a Q4 record of $331M ($0.059/share).
    • Operating expenses up 5.6% to $797.3M, with 15% increases in cost of customer service/billing and 21% increase in sales and marketing making up much of the increase.
    • For the full year: Revenues up 10% to $4.18B; Net income was up 31% to $493M; Adjusted EBITDA up 26% to $1.47B; and free cash flow up 25% to a record $1.16B. Share buybacks reached $2.5B in 2014; leverage "remained steady at about 3.1x EBITDA."
    • Shares up 1.9% premarket.
    • Press Release
    | Thu, Feb. 5, 9:13 AM | 17 Comments
  • Oct. 28, 2014, 7:03 AM
    • Sirius XM (NASDAQ:SIRI): Q3 EPS of $0.02 in-line.
    • Revenue of $1.06B (+10.2% Y/Y) beats by $20M.
    • Shares +3.9% PM.
    • Press Release
    | Oct. 28, 2014, 7:03 AM | 1 Comment
  • Jul. 15, 2014, 5:35 PM
    | Jul. 15, 2014, 5:35 PM | 18 Comments
  • Jul. 15, 2014, 4:36 PM
    • This addition brings the company's aggregate buyback authorization up to $6B, good for nearly 1.8B shares at today's closing price of $3.38.
    • Stock may be bought back in the open market, or in privately negotiated deals, including accelerated repurchase transactions with Liberty Media and affiliates.
    • SIRI +1.8% premarket to $3.44.
    • Source: Press Release
    | Jul. 15, 2014, 4:36 PM | 11 Comments
  • Apr. 24, 2014, 7:30 AM
    • Sirius XM Holdings (SIRI) reports it added 266K net subscribers in Q1 including 173.5K self-pay adds.
    • The company's total paid subscriber base rose 6% Y/Y to 25.8M.
    • SIRI +1.6% premarket to $3.22
    | Apr. 24, 2014, 7:30 AM | Comment!
  • Jan. 6, 2014, 9:11 AM
    | Jan. 6, 2014, 9:11 AM | Comment!
  • Jan. 6, 2014, 8:39 AM
    • Shares of Sirius XM Radio (SIRI) race 7.8% higher to $3.85 in premarket trading following an offer late Friday from Liberty Media (LMCA) to take over the company in a deal which values the company at $3.68 per share.
    • In a conference call with analysts, execs said if the deal is completed it would allow Liberty to start buying back shares at an increased pace.
    | Jan. 6, 2014, 8:39 AM | 8 Comments
  • Jan. 3, 2014, 6:24 PM
    • After coming off a halt, Sirius XM (SIRI) is trading at $3.75 after hours in the wake of Liberty Media's (LMCA) offer to assume full ownership of the satellite radio owner.
    • That represents a 5% gain from Sirius' closing price of $3.57, and is 1.9% above the $3.68/share buyout price implied by Liberty's all-stock offer. Some Sirius shareholders might be betting on a better offer arriving.
    • Liberty shares are up 0.5% AH.
    | Jan. 3, 2014, 6:24 PM | 37 Comments
  • Jan. 3, 2014, 4:51 PM
    • Liberty Media (LMCA), which already owns a majority stake in Sirius XM (SIRI), is proposing to make Sirius a 100%-owned subsidiary through an all-stock deal. (PR)
    • Liberty proposes to have each Sirius converted into a 0.076 new Liberty Series C shares, and then distribute, on a 2:1 basis, Series C shares to all holders of Liberty's Series A and B shares.
    • The exchange ratio values Sirius at $3.68/share based on Liberty's Friday close; that's an $0.11, or 3%, premium to Sirius' closing price of $3.57.
    • Sirius' public shareholders would own 39% of the new company, which (based on current prices) stands to have a market cap of $27B.
    • Sirius shares are halted. CC at 5PM ET.
    | Jan. 3, 2014, 4:51 PM | 93 Comments
  • Jul. 25, 2013, 9:27 AM
    More on Sirius XM Radio's (SIRI) Q2: The company added 715,762 subscribers during the quarter as the expected boom from higher auto sales continues to feed growth. Self-pay net subscriber additions totaled over 423K. For the full year, Sirius sees revenue of over $3.7B and adjusted EBITDA of $1.14B. SIRI +2.5% premarket. (PR)
    | Jul. 25, 2013, 9:27 AM | Comment!
  • Jul. 9, 2013, 7:37 AM
    Sirius XM Radio (SIRI) says it added 715K net new subscribers in Q2 to take its total subscriber count to more than 25M. Based on the strong quarter, the company raises its full-year guidance for total net subscriber additions to 1.5M from its prior guidance of 1.4M. SIRI +2.3% premarket.
    | Jul. 9, 2013, 7:37 AM | 1 Comment
  • Jun. 26, 2013, 9:12 AM
    Pandora (P) +4.1%, adding to yesterday's gains (I, II), after The Verge's Greg Sandoval reports the company is talking to both music labels and artist groups about resolving royalty disputes. The report comes shortly after Pink Floyd penned an op-ed in USA Today attacking Pandora's attempts to lower rates, and less than a month after Pandora bought a radio station in an effort to lower a portion of its royalties. Pandora paid $0.11/stream last year, and is set to pay $0.13/stream next year and $0.14/stream in 2015. Content acquisition costs made up 66% of FQ1 revenue. Sirius XM's (SIRI) music costs, by comparison, made up just 7.5% of its 2012 revenue.
    | Jun. 26, 2013, 9:12 AM | 1 Comment
Company Description
Sirius XM Holdings Inc broadcasts its music, sports, news, talk, entertainment, traffic and weather channels in the United States for a subscription fee through its proprietary satellite radio systems.
Sector: Services
Country: United States