CABO earnings analysis
What we found in CABO's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Cable One, Inc. reported Q1 2026 results showing a revenue decline of 7.3% to $352.9 million and an EPS of $6.12, significantly below the estimated EPS of $9.74. However, net income increased to $35.8 million from $2.6 million year-on-year due to a gain from the sale of fiber-to-the-tower contract rights.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Revenues decreased by $27.6 million or 7.3% from Q1 2025, from $380.6 million to $352.9 million.
- Net Income Surge
- Net income dramatically increased from $2.6 million in Q1 2025 to $35.8 million in Q1 2026, reflecting growth of $33.2 million.
- Operating Cash Flow Stability
- Operating cash flows improved slightly from $116.3 million in Q1 2025 to $118.2 million in Q1 2026, up by 1.6%.
- Cash Position Increased
- Cash and cash equivalents rose from $149.1 million at the end of Q1 2025 to $165.6 million by Q1 2026, reflecting an increase of $16.5 million.
- Cost Control
- Total costs dropped by $18.6 million or 6.5% year-over-year, from $284.9 million to $266.4 million.
- Interest Expense Decrease
- Interest expense decreased from $34.5 million in Q1 2025 to $30.3 million in Q1 2026, a reduction of 12.2%.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Missed Revenue Estimates
- Actual revenue of $352.9 million fell short of the estimate of $359.6 million, a surprise of -1.9%.
- Declining Subscriber Numbers
- Residential data subscribers decreased by 6.1%, from 945,000 in Q1 2025 to 887,000 in Q1 2026.
- Shortfall in EPS Expectations
- EPS of $6.12 was significantly below the estimated EPS of $9.74, resulting in a surprise of -37.2%.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $6.12
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads worse than the one before it.
What came before.
- 10-K · February 26, 2026
- Cable One (Sparklight) emphasizes a strategic shift toward higher‑margin residential data and business data, investing in network capacity (multi‑Gig, DOCSIS 4.0) and focusing capital spending on infrastructure.…
- 10-Q · August 1, 2025
- Cable One reported Q2 2025 revenue of $381.1M, down 3.4% from $394.5M in Q2 2024 and essentially flat versus Q1 2025. The company recorded a $586.0M asset impairment that drove an operating loss of $489.3M and a net…
- 10-Q · May 2, 2025
- Cable One reported Q1 2025 revenue of $380.6M, down from $404.3M a year earlier (‑$23.7M, ‑5.9%), with operating income shrinking to $95.7M from $119.9M and operating margin declining ~4.6pp to ~25.1%. Diluted EPS…
- 10-Q · May 3, 2024
- Cable One reported Q1 revenue of $404.312M, down $17.582M vs Q1 2023, with income from operations of $119.862M (operating margin ~29.6%) and diluted EPS of $8.11 (down from $9.62). Operating cash flow remained strong at…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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