“We've been providing bill credits to customers in impacted areas and those one-time credits will offset some first quarter revenue.”

In context

“number of Hurricane Helene and Hurricane Milton impacts, which hit the Southeast US in late September and early October. Our fourth quarter customer results include over 20,000 additional disconnects related to the storms. Fourth quarter adjusted EBITDA was reduced by approximately $35 million, primarily driven by hurricane-related customer credits and revenue, and the storms drove approximately $125 million in total incremental capital expenditures in the fourth quarter. Today's results do not include any impact related to the wildfires that hit Southern California in January. Our first quarter results will include some lost customers and passings related to the fires. We're still assessing impacted areas, and we expect to incur capital expenditures to recover and rebuild lost passings. We've been providing bill credits to customers in impacted areas and those one-time credits will offset some first quarter revenue. We may also have some incremental operating expense, although we expect that to be relatively small. And we'll isolate the impact of the fires when we report our first quarter results. Unrelated, we recently completed an extensive review of our serviceable passings to clean up duplicate passings and other data and to identify new passings. As a result, we reduced total estimated passings in our trending schedule for all periods presented by 1.7 million passings. Additionally, because of the GAAP requirement, our cost to service customers expense line has been divided into two new cost lines, field and technology operations and customer operations. The best way to forecast these two new line items is to combine them into one figure as presented in the past as cost to service customers, And”