10-Q - CINCINNATI BELL INC (0000716133) (Filer)

Thu, Nov 7, 6:11 PM (67 days ago)

Cincinnati Bell Inc. (CBB) reported its third-quarter results for 2024, showing a slight revenue increase to $274.7 million from $273.3 million in 2023, though year-to-date revenue decreased to $819.1 million from $824.5 million. The company experienced an operating loss of $7.3 million for the quarter, an improvement from $15.3 million in the prior year, mainly due to reduced depreciation and amortization expenses. Interest expense rose significantly due to new debt, impacting net loss which increased to $61.4 million from $42.7 million. The company continues to transition, with a strategic divestiture of its IT services segment expected to close in Q4 2024 for $670 million. Cash flow from operations improved markedly to $185.7 million, up from $59.2 million year-over-year. Despite the challenges, Cincinnati Bell is focusing on expanding its fiber network, with capital expenditures totaling $115.3 million in Q3. The accumulated deficit increased to $487.4 million, highlighting ongoing financial challenges amidst restructuring efforts. Overall, while revenue trends are mixed, operational improvements and strategic divestitures position Cincinnati Bell for future growth.