Cable One Inc

Cable One shares plunged 8.8% in afternoon trading after broadband provider Bluepeak announced that Cable One's Chief Operating Officer, Ken Johnson, will leave to become Bluepeak's new Chief Executive Officer, effective October 19, 2026. Johnson, who oversaw residential and business operations, technology services, and digital integration across 24 states, will succeed Rich Fish, who is retiring after six years. The leadership transition weighed on investor sentiment, and the stock closed at $23.20, down 8.8% from the previous close. Cable One is down 77.2% since the beginning of the year and trades 86.7% below its 52-week high of $178.48 from October 2025.

Cable One reported second quarter results that missed analyst expectations, with revenue of $348.9 million versus estimates of $350.2 million and a GAAP loss per share of $204.35 compared to the expected $4.91 profit. The company attributed the weak performance to continued residential broadband subscriber losses and elevated churn, with CEO Jim Holanda calling customer retention the most important operational priority. During the earnings call, analysts pressed management on improving penetration rates, financing transactions, customer acquisition costs, ARPU trajectory, and subscriber trend stabilization. Cable One currently trades at $34.04, down from $44.48 just before the earnings release.

Cable One reported second quarter 2026 results with total revenues of $348.9 million, down from $381.1 million a year earlier, and adjusted EBITDA of $173.5 million, or 49.7% of revenues, compared to $203.2 million, or 53.3%, in the prior-year quarter. The company lost 17,000 residential broadband customers during the quarter as elevated churn continued to pressure subscriber results, while residential data revenues declined 7.3% year-over-year. CEO Jim Holanda said improving customer retention is the most important operational priority, and the company is investing in digital and direct sales channels, which now account for roughly 35% of sales, up from less than 10% a year ago. CFO Todd Koetje noted the company reduced debt by $63 million in the quarter and nearly $130 million in the first half of the year, with gross debt at $3.06 billion and cash of $166.2 million at quarter end. Cable One also reaffirmed that full-year capital expenditures are expected to remain consistent with the prior year.

Cable One posted a second-quarter loss of $17.60 per share, far wider than the Zacks Consensus Estimate of a loss of $8.00 per share and a swing from earnings of $3.23 per share a year ago. Revenue came in at $348.93 million, edging past the consensus by 0.33% but down from $381.07 million in the prior-year quarter. The company has missed consensus EPS estimates in each of the last four quarters and beaten revenue estimates only once over that span. Shares have fallen about 61.6% year to date, compared with a 12.8% gain for the S&P 500.