DISH Network (DISH) Q3 Earnings Lag, Revenues Decline Y/Y

·3 min read

DISH Network's DISH third-quarter 2021 earnings of 88 cents per share missed the Zacks Consensus Estimate by a penny but increased 2.3% year over year.

Revenues decreased 1.8% year over year to $4.45 billion and beat the consensus mark by 0.3%.

Revenues from the United States fell 1.9% year over year to $4.43 billion. Revenues from Canada and Mexico increased 11.7% to $16.9 million.

Quarterly Details

Pay-TV revenues increased 0.9% year over year to $3.25 billion. DISH exited the reported quarter with 10.980 million Pay-TV subscribers, down 3.9% year over year. DISH TV subscribers declined 6% year over year to 8.424 million. Sling TV subscribers increased 4% year over year to 2.556 million.

DISH Network Corporation Price and EPS Surprise

DISH Network Corporation Price and EPS Surprise
DISH Network Corporation Price and EPS Surprise

DISH Network Corporation price-eps-surprise | DISH Network Corporation Quote

Pay-TV ARPU increased 4.9% year over year to $96.31. Additionally, the DISH TV churn rate was 1.39% compared with the year-ago quarter’s 1.41%.

Wireless revenues were $1.23 billion, down 8.3% year over year. Wireless subscribers, at the end of the reported quarter, were 8.774 million.

Wireless ARPU was $39.25 while Wireless churn rate was 4.61% in the reported quarter.

In the third quarter, DISH TV subscriber-acquisition costs decreased 2.3% year over year to $834.

Total cost and expenses increased 0.3% year over year to $3.73 billion.

EBITDA decreased 5.5% year over year to $915.6 million.

Operating income was $717.7 million, down 11.5% year over year. Pay-TV operating income decreased 12.9% year over year to $699.7 million. Wireless operating income was $18 million compared with year-ago quarter’s income of $7.4 million.

Balance Sheet

As of Sep 30, 2021, DISH Network had cash, cash equivalents and current marketable investment securities of $5.25 billion compared with $4.82 billion as of Jun 30, 2021.

Total debt, as of Sep 30, 2021, was $16.20 billion compared with $16.23 billion as of Jun 30, 2021.

Zacks Rank & Stocks to Consider

DISH currently has a Zacks Rank #4 (Sell).

AMC Entertainment AMC, Clarus CLAR and Callaway Golf ELY are some better-ranked stocks in the broader Consumer & Discretionary sector. All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Both AMC and Clarus are set to report their quarterly results on Nov 8. Callaway Golf is scheduled to report the same on Nov 9.


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