CLAIM #14235 · Charter Communications Inc (CHTR) · 2024Q3 earnings call · Nov 1, 2024 · due Dec 31, 2027
“That has pushed back equipment purchasing and operational deployment and we now expect our network evolution initiative project to be completed in 2027.”
Chris Winfrey · CEO
How to check this claim
Look at: Completion status of the network evolution initiative (multi-gigabit/DAA-Remote PHY deployment across all markets)
It came true if: Company states network evolution initiative fully completed by end of 2027
Where: Management commentary on quarterly earnings calls / investor updates (CHTR)
In context
“erating capital cost per product with lower churn to ultimately drive more cash flow capacity. And we're making investments in that large fixed asset through our network evolution initiative, which brings multi-gigabit speeds to 100% of our customers. We've launched symmetrical internet service in our step one markets, including Reno, St. Louis, Cincinnati, Dallas Fort Worth, Louisville, Lexington, Rochester, Minnesota, and Rochester, New York. We're now broadly marketing our symmetrical speeds in seven of these eight markets. The high split upgrade process should be largely complete in all of our step one markets by the end of this year. We're making progress on Step 2 DAA and Remote PHY markets and we've deliberately slowed these markets to get the software fully certified to our specs. That has pushed back equipment purchasing and operational deployment and we now expect our network evolution initiative project to be completed in 2027. Excluding the benefit of future capital and operating cost savings, our network evolution has and will cost a very low incremental $100 per passing. We have full visibility to that outcome. We'll update our multiyear capital expenditures outlook, including the new phasing of our network evolution spend when we report our fourth quarter results in January. In Video, over the past year, we transformed all of our major programming agreements in a way that works for our customers and for Charter, including a recent early renewal of Warner Bros. Discovery and then NBCU. These agreements give customers greater overall package flexibility and the ability to include all the key streaming apps from programmers within our Spectrum TV Select packages. That enables us to offer what we now call seamle”
Verify independently
SEC filings for CHTR ↗ · Claim quote is verbatim from the 2024Q3 earnings call.