Altice USA Inc (ATUS) 2024 Q2 法說會逐字稿

完整原文

使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主

  • Operator

    Operator

  • Hello, and welcome to the Altice USA Q2 2024 results conference call and webcast.

    您好,歡迎參加 Altice USA 2024 年第二季業績電話會議和網路廣播。

  • (Operator Instructions) As a reminder, this conference is being recorded.

    (操作員指示)謹此提醒,本次會議正在錄製中。

  • It's now my pleasure to turn the call over to Sarah Freedman, Investor Relations.

    現在我很高興將電話轉給投資者關係部門的莎拉‧弗里德曼 (Sarah Freedman)。

  • Please go ahead, Sarah.

    請繼續,莎拉。

  • Sarah Freedman - Investor Relations

    Sarah Freedman - Investor Relations

  • Hello, and welcome to the Altice USA Q2 2024 earnings call.

    您好,歡迎參加 Altice USA 2024 年第二季財報電話會議。

  • We are joined today by Altice USA's Chairman and CEO, Dennis Mathew, and CFO, Marc Sirota, who together will take you through the presentation and then be available for questions.

    今天,Altice USA 董事長兼首席執行官 Dennis Mathew 和首席財務官 Marc Sirota 也加入了我們的行列,他們將共同帶領您完成演示,然後回答您的問題。

  • As today's presentation may contain forward-looking statements, please carefully review the section titled forward-looking statements on slide 2.

    由於今天的簡報可能包含前瞻性陳述,請仔細閱讀投影片 2 上標題為前瞻性陳述的部分。

  • Now, turning over to Dennis to begin.

    現在,請丹尼斯開始。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Thank you, Sarah, and thanks everyone for joining today.

    謝謝莎拉,也謝謝大家今天加入。

  • As you've heard me say before, our mission at Optimum is to be the connectivity provider of choice in every community that we serve.

    正如您之前聽我說過的,我們 Optimum 的使命是成為我們所服務的每個社區的首選連結提供者。

  • To do that, we are putting the customer at the center of every decision, providing the best customer experience, best networks, best customer relationships and best products, all supported by the best team here at Optimum.

    為此,我們將客戶置於每項決策的中心,提供最佳的客戶體驗、最佳的網路、最佳的客戶關係和最佳的產品,所有這些都得到 Optimum 最佳團隊的支援。

  • Our focus on the customer underpins our strategy of returning the business to sustainable subscriber revenue, EBITDA and cash flow growth over time.

    我們對客戶的關注是我們使業務恢復可持續的用戶收入、EBITDA 和現金流量隨時間增長的策略的基礎。

  • Q2 was another quarter of progress in our transformation journey.

    第二季是我們轉型之旅又有進展的四分之一。

  • We continued to deliver improved operational metrics, increased customer satisfaction, growth in our fiber, mobile and B2B businesses, elevated product quality and refreshed go-to-market strategies.

    我們持續改善營運指標,提高客戶滿意度,促進光纖、行動和 B2B 業務的成長,提高產品品質並更新上市策略。

  • And we are continuing to use artificial intelligence and data to enhance our capabilities and improve the customer experience.

    我們將繼續利用人工智慧和數據來增強我們的能力並改善客戶體驗。

  • We are executing with financial discipline across every area of the business, and we are just getting started.

    我們正在業務的各個領域執行財務紀律,而我們才剛開始。

  • We have an exciting, innovative and robust roadmap of future product and experience enhancements that we cannot wait to bring to our current and prospective customers this year and beyond.

    我們對未來產品和體驗增強制定了令人興奮、創新和穩健的路線圖,我們迫不及待地想在今年及以後將其帶給我們當前和潛在的客戶。

  • Before we get into the details, I do want to say thank you, thank you to our customers for choosing us as their provider for one of the most essential services in their lives, and thank you to our team mates across the country.

    在我們討論細節之前,我確實想說謝謝,感謝我們的客戶選擇我們作為他們生活中最重要的服務之一的提供商,並感謝我們遍布全國的團隊夥伴。

  • It is your dedication to our customers that is driving the current and future success of our business.

    您對客戶的奉獻精神推動著我們業務當前和未來的成功。

  • So now, let's turn to slide 3 to get into some of the specifics.

    現在,讓我們轉向投影片 3,了解一些具體細節。

  • We delivered $2.2 billion in revenue and $867 million in adjusted EBITDA in Q2 2024.

    2024 年第二季度,我們實現了 22 億美元的營收和 8.67 億美元的調整後 EBITDA。

  • Revenue and adjusted EBITDA declines continued to improve compared to the prior year-over-year trends.

    與先前的同比趨勢相比,收入和調整後的 EBITDA 下降繼續改善。

  • This reflects our disciplined operational and financial execution, as we continue to face competitive and macro pressures, including higher interest rates, higher inflation and increased competition.

    這反映了我們嚴格的營運和財務執行力,因為我們繼續面臨競爭和宏觀壓力,包括利率上升、通膨上升和競爭加劇。

  • We've invested in people, data and analytics and are starting to see returns in those investments.

    我們在人員、數據和分析方面進行了投資,並開始看到這些投資的回報。

  • Looking back 12 months to 24 months ago, we had limited understanding of our customers.

    回顧 12 個月到 24 個月前,我們對客戶的了解還很有限。

  • Through the formation of our centralized data and analytics teams and implementation of AI tools, we now have a robust understanding of our customers and their individual customer life-time value, and are proactively managing these relationships to benefit our customers and our business.

    透過組建集中數據和分析團隊以及實施人工智慧工具,我們現在對客戶及其個人客戶的終身價值有了深入的了解,並積極管理這些關係,以使我們的客戶和我們的業務受益。

  • The use of AI tools extends across the business, and we'll continue to scale them to transform our operations, drive inbound sales performance and improve processes at all touchpoints.

    人工智慧工具的使用擴展到整個業務範圍,我們將繼續擴展它們以改變我們的運營,提高入站銷售績效並改善所有接觸點的流程。

  • On our subscriber trends, we saw impacts from both competitive and macro pressures, which were more pronounced in our west footprint, as the east had relatively stable trends.

    在我們的用戶趨勢上,我們看到了競爭和宏觀壓力的影響,這在我們的西部足跡中更為明顯,因為東部的趨勢相對穩定。

  • In addition, we saw gross addition pressure in our low-income customer segment, partially attributed to the sunset of ACP and aggressive pricing from ILECs, fiber overbuilders and FWA.

    此外,我們還看到低收入客戶群面臨總增加壓力,部分原因是 ACP 的退出以及 ILEC、光纖過度建設商和 FWA 的激進定價。

  • Our hyper-local strategy, network quality and value combined with robust offerings across our base enables us to effectively compete over time.

    我們的超本地化策略、網路品質和價值以及整個基地強大的產品組合使我們能夠隨著時間的推移有效地競爭。

  • Overall, we remain well positioned with a healthy broadband customer base of 4.4 million customers and we continue to see growth in fiber subscribers and mobile lines, which are key drivers to strong and profitable long-term customer relationships.

    總體而言,我們仍然處於有利地位,擁有 440 萬客戶的健康寬頻客戶群,我們繼續看到光纖用戶和行動線路的成長,這是建立強大且有利可圖的長期客戶關係的關鍵驅動力。

  • We also saw a positive B2B subscriber growth in Q2, momentum that we are excited to build on in the second half of the year.

    我們也看到第二季 B2B 用戶的積極成長,我們很高興在今年下半年繼續保持這一勢頭。

  • Overall, our focus on delivering better experiences for our customers is paying off.

    總體而言,我們致力於為客戶提供更好的體驗,這一點正在得到回報。

  • According to both internal and external customer satisfaction benchmarks, Optimum is on a significant climb, outpacing the NPS improvements of our peers over the last two years.

    根據內部和外部客戶滿意度基準,Optimum 正在顯著攀升,超過了過去兩年同行的 NPS 改進。

  • Specifically, transactional NPS or customer satisfaction levels when interacting with Optimum, has grown 34 points over the last two years.

    具體來說,與 Optimum 互動時的交易 NPS 或客戶滿意度在過去兩年中增加了 34 個百分點。

  • Additionally, relationship NPS or overall customer sentiment toward the optimum brand has grown 18 points over the same period.

    此外,關係 NPS 或整體客戶對最佳品牌的情緒在同一時期增加了 18 個百分點。

  • This marks significant progress in stabilizing our business and establishing the optimum brand as one that customers can rely on and trust.

    這標誌著我們在穩定業務和建立客戶可以信賴的最佳品牌方面取得了重大進展。

  • Importantly, our focus on improving NPS scores helps us to enhance profitability while protecting ARPU and sustaining low churn.

    重要的是,我們對提高 NPS 分數的關注有助於我們提高獲利能力,同時保護 ARPU 並維持低流失率。

  • In Q2, we also saw brand awareness among prospective customers grow by 8 percentage points year-over-year in the east and by 13 percentage points in the west, supported by our customer experience improvements, brand platform launch and go-to-market strategies.

    第二季度,在我們改善客戶體驗、推出品牌平台和進入市場策略的支持下,我們還發現東部潛在客戶的品牌知名度同比增長了 8 個百分點,西部潛在客戶的品牌知名度同比增長了 13 個百分點。

  • We also continue to see third-party validation.

    我們也繼續看到第三方驗證。

  • Optimum fiber was once again recognized for having the fastest and most reliable Internet speeds in New York and New Jersey, according to Ookla Speedtest.

    根據 Ookla Speedtest 的數據,Optimum Fiber 再次因其在紐約和新澤西州擁有最快、最可靠的網路速度而被認可。

  • And most recently, we were named the best Internet service provider in the Mid-Atlantic region, inclusive of our New York and New Jersey footprint by technology publication, PCMag.

    最近,我們被技術出版物 PCMag 評為大西洋中部地區最佳網路服務供應商,其中包括我們在紐約和新澤西的業務。

  • In addition, in 2024 we were named the Best Internet Provider by CNET in areas across our footprint.

    此外,2024 年,我們被 CNET 評為我們業務範圍內的最佳網路供應商。

  • It is tremendous and validating to see the superiority of our product set and networks recognized across the industry.

    看到我們的產品集和網路的優越性得到整個行業的認可,這是巨大且令人信服的。

  • Let's dive into a few key programs that are driving these improved experiences and a positive impact on our brand reputation.

    讓我們深入了解一些推動這些體驗改進並對我們的品牌聲譽產生積極影響的關鍵計劃。

  • Since November, we have upgraded over 700,000 qualified HFC customers to higher speeds.

    自 11 月以來,我們已將超過 70 萬名合格的 HFC 客戶升級到更高的速度。

  • Almost half of these customers were previously on legacy lower-speed plans.

    這些客戶中幾乎有一半之前使用的是傳統的低速套餐。

  • This initiative enables us to phase out speed tiers, deliver improved service experiences and leaves considerable room for future upgrades.

    這項措施使我們能夠逐步淘汰速度等級,提供改進的服務體驗,並為未來的升級留出相當大的空間。

  • And we have seen improved churn with our speed rightsized population as well as higher satisfaction.

    我們已經看到,隨著我們的速度合理調整人口數量,客戶流失率有所改善,滿意度也更高。

  • Speed rightsizing demonstrates how we are passing the benefits of our network enhancements directly to our customers and it is just one component of our overall base management strategy aimed at creating more engaged, satisfied and stickier customer relationships.

    速度調整顯示了我們如何將網路增強的優勢直接傳遞給客戶,這只是我們旨在建立更積極、更滿意和更黏性的客戶關係的整體基礎管理策略的組成部分。

  • We are also increasing customer satisfaction through the broader availability of self-setups or self-installs, creating a better customer experience and reducing truck rolls.

    我們還透過更廣泛的自助設置或自助安裝來提高客戶滿意度,創造更好的客戶體驗並減少上門服務。

  • This quarter we saw 56% increase in eligible customers choosing self-setup and we will continue to improve this process.

    本季度,選擇自行設定的合格客戶增加了 56%,我們將繼續改善此流程。

  • Across our base, we have seen 235,000 fewer truck rolls in the last 12 months as well as 1.7 million fewer service calls.

    在過去 12 個月裡,我們基地的上門服務減少了 235,000 次,服務電話減少了 170 萬次。

  • As we deliver better customer experiences, total contact rates per customer have declined by almost 10% and repeat customer service visit rates have declined around 30% compared to the prior year.

    隨著我們提供更好的客戶體驗,與前一年相比,每位客戶的總聯繫率下降了近 10%,客戶服務重複訪問率下降了約 30%。

  • Our completion rates are approaching all-time highs and our repeat rates are approaching all-time lows.

    我們的完成率正在接近歷史最高水平,而我們的重複率正在接近歷史最低水平。

  • This is driven by our focus on quality, quality products, quality network and quality service.

    這是由我們對品質、優質產品、優質網路和優質服務的關注所推動的。

  • We are resolving product issues faster, driving first-time right on every interaction, expanding self-service tools such as My Optimum app and proactively communicating with our customers like never before.

    我們正在更快地解決產品問題,在每次互動中都做到第一時間,擴展 My Optimum 應用程式等自助服務工具,並以前所未有的方式主動與客戶溝通。

  • Now, last quarter, I talked about the launch of Optimum's where local is big-time brand platform, which emphasizes our ability to bring innovative, best-in-class technology and products to our customers, delivered with the approach and trust of a local business.

    現在,上個季度,我談到了 Optimum's where local is big-time Brand Platform 的推出,該平台強調我們有能力為我們的客戶帶來創新、一流的技術和產品,並透過當地的方法和信任來交付商業。

  • This platform is backed by our hyper-local go-to-market strategy, which is a town-by-town approach to how we serve and support our customers.

    該平台得到了我們超本地化的市場進入策略的支持,這是我們服務和支持客戶的逐個城鎮的方法。

  • Optimum size, scale and local leadership teams put us in a unique position to operate at a hyper-local level, and we are already seeing the benefits of this tailored approach, with subscriber stabilization in nearly 100 markets where we focused our hyper-local segmentation efforts.

    最佳的規模、規模和本地領導團隊使我們處於在超本地層面運營的獨特地位,我們已經看到了這種定制方法的好處,在我們專注於超本地細分的近100 個市場中實現了用戶穩定努力。

  • In addition, residential customer wins per losses on competitive switching improved slightly compared to Q2 '23 levels.

    此外,與 23 年第 2 季的水平相比,住宅客戶因競爭性轉換而贏得的每筆損失略有改善。

  • We are performing better amongst non-movers in the east footprint as well as in the west generally.

    我們在東部地區和西部地區的非移動者中表現得更好。

  • Our hyper-local go-to-market strategy is just gaining momentum and we are confident that it will enable us to be more competitive in every market we serve.

    我們的超本地化進入市場策略正在蓄勢待發,我們相信這將使我們在所服務的每個市場中更具競爭力。

  • Next on slide 4, I will review some of the exciting developments our teams are diligently working to deliver over the medium term.

    接下來,在投影片 4 上,我將回顧我們的團隊在中期努力實現的一些令人興奮的進展。

  • With our operational transformation well underway, we are excited about the upcoming evolution of the Optimum product and solutions portfolio, which focuses on driving innovation, flexibility and value for our customers.

    隨著我們營運轉型的順利進行,我們對即將推出的 Optimum 產品和解決方案組合感到非常興奮,該產品和解決方案組合的重點是為客戶推動創新、靈活性和價值。

  • Let's start with value-added services, a new set of offerings that will bring our customers add-ons to help get them the most out of their experience with Optimum while expanding our opportunity to capture additional revenue per customer beyond our core products.

    讓我們從增值服務開始,這是一組新的產品,將為我們的客戶帶來附加服務,幫助他們充分利用Optimum 的體驗,同時擴大我們在核心產品之外為每個客戶獲取額外收入的機會。

  • We recently launched Total Care, which provides premium support for customer services and connected devices in the home at $15 per month for residential customers.

    我們最近推出了 Total Care,為住宅客戶提供每月 15 美元的客戶服務和家庭連網設備的高級支援。

  • Since the product’s soft launch in Q2, we've seen several thousand customers take this add-on, and marketing hasn't even started.

    自從該產品在第二季試推出以來,我們已經看到數千名客戶使用了這個附加元件,而行銷甚至還沒有開始。

  • We also offer device protection for our fixed services and just recently launched device protection for mobile.

    我們也為固定服務提供設備保護,並於最近推出了行動裝置保護。

  • As consumer needs evolve, we are also exploring partnerships with third-party OTT app providers to resell services as part of the Optimum product suite.

    隨著消費者需求的發展,我們也正在探索與第三方 OTT 應用程式供應商建立合作夥伴關係,將服務作為 Optimum 產品套件的一部分進行轉售。

  • This is an untapped area for us, enabling us to meet changing customer behaviors while creating greater financial flexibility in managing content rights.

    這對我們來說是一個尚未開發的領域,使我們能夠滿足不斷變化的客戶行為,同時在管理內容權利方面創造更大的財務靈活性。

  • On broadband, both our fiber and HFC footprints continue to be recognized for speed and reliability, coming in ahead of our peers in several key categories.

    在寬頻方面,我們的光纖和 HFC 足跡繼續因其速度和可靠性而受到認可,在幾個關鍵類別上領先於我們的同行。

  • In areas where we have fiber, we are focused on growing penetration through both customer additions and a renewed focus on migrations, a process that is now faster, easier and more cost-effective.

    在我們擁有光纖的地區,我們致力於透過增加客戶和重新專注於遷移來提高滲透率,這個過程現在更快、更容易且更具成本效益。

  • We anticipate accelerating fiber migrations in the second half of the year.

    我們預計下半年光纖遷移將加速。

  • Performance on our HFC network continues to improve as well, as we make the right investments to provide best-in-class speeds, reliability with a durable network lifespan.

    我們的 HFC 網路效能也在不斷提高,因為我們進行了正確的投資,以提供一流的速度、可靠性和持久的網路壽命。

  • Today we have 1 gig or higher speeds available to 95% of our total footprint and we are actively testing our ability to deliver 2 gig speeds using mid and high-split technology, and are reclaiming capacity from our video system as we expand our Optimum stream product.

    如今,我們總佔地面積的95% 都可以使用1 GB 或更高的速度,並且我們正在積極測試使用中高分流技術提供2 GB 速度的能力,並在擴展最佳流時從我們的視頻系統中回收容量產品。

  • Next, we'll continue our speed rightsizing program as part of our broader base management strategy, identifying and upgrading qualified customers on an ongoing basis.

    接下來,我們將繼續我們的速度調整計劃,作為我們更廣泛的基礎管理策略的一部分,持續識別和升級合格的客戶。

  • And we're continuously enhancing our in-home WiFi experience with software and hardware improvements to expand coverage and optimize performance.

    我們不斷透過軟體和硬體改進來增強我們的家庭 WiFi 體驗,以擴大覆蓋範圍並優化效能。

  • Our roadmap includes wireless backup, smart WiFi solutions and next-generation gateways.

    我們的路線圖包括無線備份、智慧 WiFi 解決方案和下一代網關。

  • Overall, our broadband strategy remains focused on delivering the best, highest quality service to our customers at a great value.

    整體而言,我們的寬頻策略仍專注於為客戶提供最優質、最有價值的服務。

  • We are well positioned with our current and future product roadmap to continue to improve that experience.

    我們已經做好了目前和未來產品路線圖的準備,可以繼續改善這種體驗。

  • On mobile, we'll continue to extend mobile sales to more channels and we'll expand our mobile device selection.

    在行動裝置方面,我們將繼續將行動銷售擴展到更多管道,並擴大我們的行動裝置選擇。

  • We added tablets and mobile device protection to our portfolio in Q2, and expect to introduce wearables next year.

    我們在第二季將平板電腦和行動裝置保護添加到我們的產品組合中,並預計明年推出穿戴式裝置。

  • And we recently started selling mobile in B2B, which will support future growth.

    我們最近開始以 B2B 方式銷售手機,這將支持未來的成長。

  • On B2B, we are beginning to see more traction, reporting positive SMB broadband net additions in the quarter, and we have plans to add more managed services such as SD-WAN, Network-as-a-Service, LTE backup and richer security features in the coming months.

    在B2B 方面,我們開始看到更多的吸引力,報告本季中小型企業寬頻淨增量呈正增長,並且我們計劃添加更多託管服務,例如SD-WAN、網路即服務、LTE 備份和更豐富的安全功能在接下來的幾個月。

  • In addition, our Lightpath enterprise business continued to see healthy revenue growth in Q2, driven by an increase in net installs.

    此外,在淨安裝量成長的推動下,我們的 Lightpath 企業業務在第二季度繼續保持健康的收入成長。

  • Lightpath continues to expand its footprint through tuck-in acquisitions.

    Lightpath 透過收購繼續擴大其足跡。

  • In June, Lightpath announced that it had entered into an agreement to acquire United Fiber & Data.

    6月,Lightpath宣布已簽訂收購United Fiber & Data的協議。

  • UFD owns and operates high-fiber count networks between New York City and Ashburn, Virginia.

    UFD 擁有並經營紐約市和維吉尼亞州阿什本之間的高光纖數網路。

  • If completed, this acquisition is expected to expand the serviceable market in Manhattan by over 20% and should align well with the existing footprint.

    如果完成,此次收購預計將使曼哈頓的可用市場擴大 20% 以上,並應與現有的足跡保持良好一致。

  • And last, the moment on video, turning to slide 5, over the last few years, we have learned a lot about our customers' TV viewing habits and have been preparing as a Company to address these changes.

    最後,關於影片的時刻,請參閱幻燈片 5,在過去幾年中,我們了解了很多有關客戶電視觀看習慣的信息,並作為一家公司一直在準備應對這些變化。

  • We are evolving and expanding our product set to provide our customers with the choice, flexibility and the advanced connectivity experience they demand.

    我們正在不斷發展和擴展我們的產品集,以便為客戶提供他們所需的選擇、靈活性和先進的連接體驗。

  • First, we launched Optimum Stream, our Android-based streaming video platform.

    首先,我們推出了 Optimum Stream,這是我們基於 Android 的串流影音平台。

  • And we continue to enhance its functionality.

    我們不斷增強其功能。

  • We plan to introduce pause and rewind for live TV and a new user interface in the months to come.

    我們計劃在未來幾個月內引入直播電視的暫停和快退功能以及新的使用者介面。

  • Optimum Stream is available to all our New York tri-state area customers and this year, we expect to bring our premier video service to nearly 1.5 million more homes across our west footprint.

    Optimum Stream 可供我們所有紐約三州地區的客戶使用,今年,我們預計將我們優質的視訊服務帶到我們西部地區的近 150 萬個家庭。

  • In July, we announced the launch of Entertainment TV, a new Internet TV package and the first of several new video bundles to be rolled out by Optimum with a variety of content options.

    7 月,我們宣布推出 Entertainment TV,這是一種新的網路電視套餐,也是 Optimum 推出的第一個包含多種內容選項的新影片套餐。

  • This TV package is priced at $30 per month and features over 80 top-rated channels, available both live and on demand only through Optimum Stream.

    該電視套餐的價格為每月 30 美元,包含 80 多個收視率最高的頻道,僅透過 Optimum Stream 提供直播和隨選頻道。

  • Entertainment TV customers also have access to Optimum's News 12 service, the preeminent hyper-local news source across the New York tri-state area.

    娛樂電視客戶還可以使用 Optimum 的 News 12 服務,這是紐約三州地區卓越的超本地新聞來源。

  • Entertainment TV is coming at a time when we continue to see the landscape of sports and TV content changing dramatically.

    當我們繼續看到體育和電視內容的格局發生巨大變化時,娛樂電視就出現了。

  • Roughly one in five of our video customers do not engage with broadcast, cable news, sports or premium channels regularly, and we are now able to provide these customers with optionality.

    我們大約五分之一的視訊客戶不會定期觀看廣播、有線新聞、體育或付費頻道,我們現在能夠為這些客戶提供選擇。

  • Additionally, programmers continue to mandate bundles and raise prices for all customers, regardless of whether they watch the content, while also moving premium content to direct-to-consumer platforms without giving equal access to linear partners who pay a majority of their costs.

    此外,程式設計師繼續向所有客戶強制捆綁並提高價格,無論他們是否觀看內容,同時還將優質內容轉移到直接面向消費者的平台,而不向支付大部分成本的線性合作夥伴提供平等的機會。

  • This results in high TV bills for consumers and fragmented and confusing viewing options.

    這導致消費者的電視費用很高,並且觀看選擇分散且令人困惑。

  • Consumers should have the choice to pay fair and reasonable prices for the content they want and how they want it, without being forced to pay for what they don't want.

    消費者應該可以選擇以公平合理的價格購買他們想要的內容以及他們想要的內容,而不必被迫為他們不想要的內容付費。

  • Therefore, we will approach every renewal discussion with the customer at the forefront and we will collaborate with partners who are committed to providing flexibility, choice and value for our customers.

    因此,我們將與客戶進行每一次續約討論,並與致力於為客戶提供靈活性、選擇和價值的合作夥伴合作。

  • As we look ahead to the rest of this year and beyond, we have a lot of exciting innovations and opportunities to continue to evolve the Optimum business.

    展望今年剩餘時間及以後,我們有許多令人興奮的創新和機會來繼續發展 Optimum 業務。

  • We are confident that our strategy is positioning us well and will lead to long-term customer, revenue and cash flow growth.

    我們相信,我們的策略為我們定位良好,並將帶來長期的客戶、收入和現金流成長。

  • With that, I'll now hand it over to Marc to review our Q2 performance in more detail.

    現在,我將把它交給 Marc 來更詳細地審查我們第二季度的表現。

  • Marc Sirota - Chief Financial Officer

    Marc Sirota - Chief Financial Officer

  • Thank you, Dennis.

    謝謝你,丹尼斯。

  • Turning to slide 7, total revenue was $2.2 billion in Q2 and declined 3.6% year-over-year, a notable improvement from the Q2 2023 trend, which was down 5.6%.

    轉向投影片 7,第二季總營收為 22 億美元,年減 3.6%,較 2023 年第二季下降 5.6% 的趨勢顯著改善。

  • Residential revenue declined 4.4% year-over-year, driven by a smaller customer base and continued losses of video subscribers.

    由於客戶群減少和視訊用戶持續流失,住宅收入年減 4.4%。

  • Despite this volume pressure, the 4.4% decline is a marked improvement from the Q2 2023 trend of down 5.7% year-over-year.

    儘管存在數量壓力,但 4.4% 的下降與 2023 年第二季度同比下降 5.7% 的趨勢相比已有顯著改善。

  • Of note, within our residential revenue trends, residential mobile service revenue saw its third consecutive quarter of over 50% year-over-year growth.

    值得注意的是,在我們的住宅收入趨勢中,住宅行動服務收入連續第三個季度年增超過 50%。

  • As we continue to ramp up on mobile, this should contribute to more of our residential revenue trends over time.

    隨著我們繼續加大行動業務力度,隨著時間的推移,這應該會對我們的住宅收入趨勢做出更多貢獻。

  • As we assess sales opportunities across our footprint, we have observed fewer shoppers across sales channels, especially among our low-income segments.

    當我們評估整個業務範圍內的銷售機會時,我們發現各個銷售管道的購物者數量減少,尤其是低收入群體。

  • Although we have improved our channel conversion rates, the top-of-the-funnel opportunities are lower due to increased competition in recent quarters and a challenging macroeconomic backdrop.

    儘管我們提高了通路轉換率,但由於最近幾季的競爭加劇和充滿挑戰的宏觀經濟背景,漏斗頂部的機會較低。

  • Despite these challenges, we see underlying strength and stable churn, stable ARPU and growing customer satisfaction.

    儘管面臨這些挑戰,我們仍看到了潛在的實力和穩定的客戶流失率、穩定的 ARPU 和不斷增長的客戶滿意度。

  • However, the current market dynamics are limiting our ability to grow subscribers and consequently topline growth in the near term.

    然而,目前的市場動態限制了我們增加用戶的能力,從而限制了我們短期內收入的成長。

  • Over the long term, we are confident that our superior network, product suite and customer experience will outperform both fixed wireless and fiber overbuilders.

    從長遠來看,我們相信我們卓越的網路、產品套件和客戶體驗將優於固定無線和光纖過度建造者。

  • We expect this competitive advantage will enable Optimum to achieve sustained growth over time.

    我們預計這種競爭優勢將使 Optimum 能夠隨著時間的推移實現持續成長。

  • In business services, we grew revenue 1.3%, which was driven by growth in our Lightpath enterprise business, and we continue to grow customer relationships and sell in ancillary services to our base.

    在商業服務方面,我們的收入成長了 1.3%,這是由 Lightpath 企業業務成長推動的,我們繼續發展客戶關係並向我們的基地銷售輔助服務。

  • News and advertising revenue declined 7.2% in the quarter, primarily tied to non-recurring prior year one-time items.

    本季新聞和廣告收入下降 7.2%,主要與去年的非經常性項目有關。

  • We expect political revenue to become more of a tailwind in the second half of this year and anticipate double-digit full year growth.

    我們預計政治收入將在今年下半年成為更多的推動力,並預計全年將達到兩位數成長。

  • In Q2, despite pressures on our video base, we continue to maintain a relatively stable and healthy residential ARPU of $135.95. Recall when we began implementing new rate card pricing for cohorts across our base at the beginning of this year, we signaled that this would not impact residential ARPU, and this has proven to be the case.

    在第二季度,儘管我們的視訊基礎面臨壓力,但我們繼續保持相對穩定和健康的住宅 ARPU 為 135.95 美元。回想一下,當我們在今年年初開始對整個基地的群體實施新的價目表定價時,我們表示這不會影響住宅 ARPU,事實證明確實如此。

  • This trend is tied to continued selling of incremental services like mobile and fiber, as well as enhancements in our base management and discipline around rate erosion.

    這一趨勢與行動和光纖等增量服務的持續銷售以及我們圍繞費率侵蝕的基礎管理和紀律的加強有關。

  • Notably, all of our operational improvements we have made in the last few quarters are translating into higher customer satisfaction as Dennis mentioned.

    值得注意的是,正如丹尼斯所提到的,我們在過去幾季所做的所有營運改善都轉化為更高的客戶滿意度。

  • With already low churn rates, we've been able to keep churn near all-time lows and have maintained better rates per customer retention through tailored offers at the customer level using new advanced AI data and tools.

    由於客戶流失率已經很低,我們能夠將客戶流失率保持在歷史最低水平附近,並透過使用新的先進人工智慧資料和工具在客戶層級提供客製化服務,保持更好的客戶保留率。

  • In addition to sales and retention, we are now introducing our AI tools for use by our care agents, consolidating dozens of legacy capabilities into one user-friendly interface.

    除了銷售和保留之外,我們現在還推出了可供護理代理使用的人工智慧工具,將數十種遺留功能整合到一個用戶友好的介面中。

  • This enhances efficiency and equips our team with the insights needed to swiftly resolve issues and suggest offers and actions tailored to each customer based on the specific reason for contacting us.

    這提高了效率,並為我們的團隊提供了快速解決問題所需的見解,並根據聯繫我們的具體原因建議為每位客戶量身定制的優惠和行動。

  • Turning to slide 8, total adjusted EBITDA declined 5.9% in Q2 year-over-year, a marked improvement from the trend of Q2 last year, which was down 8.5%.

    轉向投影片 8,第二季調整後 EBITDA 總額年減 5.9%,較去年第二季下降 8.5% 的趨勢明顯改善。

  • Adjusted EBITDA margins were 38.7% in Q2, which was just down under 1 percentage point from the prior year.

    第二季調整後 EBITDA 利潤率為 38.7%,比去年同期下降了不到 1 個百分點。

  • Adjusted EBITDA decline was primarily a result of low single-digit revenue declines and elevated sales and marketing and transformation expenses in the quarter.

    調整後 EBITDA 下降的主要原因是本季營收下降幅度較低,以及銷售、行銷和轉型費用增加。

  • Of note, we have continued to act with discipline, controlling what we can control, and we have maintained stable operating costs, slightly down from the first quarter of this year.

    值得注意的是,我們繼續遵守紀律,控制我們能控制的事情,並且我們保持了穩定的營運成本,比今年第一季略有下降。

  • As we continue on our journey of improving operations, bringing in the best-in-class talent and rolling out advanced tools, our overall costs have remained stable.

    隨著我們繼續改善營運、引進一流人才和推出先進工具,我們的整體成本保持穩定。

  • We have achieved savings in some areas of the business through operational and process improvements.

    透過營運和流程改進,我們在某些​​業務領域實現了節省。

  • This efficiency allows us to reinvest in other areas such as data analytics and sales and marketing, which are expected to drive positive subscriber growth and topline results over time.

    這種效率使我們能夠在數據分析、銷售和行銷等其他領域進行再投資,隨著時間的推移,這些領域預計將推動用戶的積極成長和營收績效。

  • Q2 free cash flow was negative $41 million, which includes $57 million of higher cash taxes compared to the prior-year quarter due to timing of first--half estimated taxes.

    第二季自由現金流為負 4,100 萬美元,其中包括由於上半年估計稅款時間安排而比去年同期增加 5,700 萬美元的現金稅。

  • We anticipate cash taxes will be significantly lower in the second half of the year and we expect full year cash taxes to be in the range of $250 million to $300 million and we continue to target positive free cash flow for the full year.

    我們預計下半年現金稅將大幅降低,全年現金稅將在 2.5 億至 3 億美元之間,我們繼續以全年正自由現金流為目標。

  • Next on slide 9, we'll review our subscriber trends.

    接下來在投影片 9 上,我們將回顧我們的訂閱者趨勢。

  • We added 40,000 fiber customers in the quarter, on pace with the prior year quarter, and grew fiber customer penetration to over 15%, representing growth of 1.1 percentage points in the quarter.

    本季我們增加了 4 萬個光纖客戶,與去年同期持平,光纖客戶滲透率成長至 15% 以上,較本季成長 1.1 個百分點。

  • Approximately 60% of our fiber net-adds were from migrations of existing customers.

    我們大約 60% 的光纖網路增量來自現有客戶的遷移。

  • If you recall, we mentioned there would be a bit of a slowdown in the pace of migrations this quarter, as we continue to refine the operational process.

    如果您還記得的話,我們曾經提到過,隨著我們繼續完善營運流程,本季的遷移速度將會放緩。

  • And I am pleased we expect to accelerate migrations in the back half of the year.

    我很高興我們預計在今年下半年加速遷移。

  • In Q2, mobile line net additions were 33,000, more than double the pace of mobile additions year-over-year,, and we increased penetration of our broadband base to 5.8%.

    第二季度,行動線路淨增數量為 33,000 戶,是行動電話年增率的兩倍以上,我們將寬頻基礎滲透率提高至 5.8%。

  • We have a lot of runway to continue to grow the mobile attachment rate and penetration to create stickier customers.

    我們有很多空間可以繼續提高行動連接率和滲透率,以創造更具黏性的客戶。

  • We anticipate accelerating mobile growth in the second half of the year through sales productivity and exciting new offerings.

    我們預計,透過銷售效率和令人興奮的新產品,下半年行動業務將加速成長。

  • Total broadband subscriber net losses were 51,000 in the quarter, driven by seasonal university disconnects, continued competitive and macro pressures and the impact of ACP sunset.

    由於大學季節性斷線、持續的競爭和宏觀壓力以及 ACP 日落的影響,本季寬頻用戶淨損失總數為 51,000 人。

  • Specifically, the difference in Q2 broadband net add performance versus the prior year can mainly be attributed to pressure in our low income segment.

    具體來說,第二季寬頻淨增加業績與前一年的差異主要歸因於我們低收入族群的壓力。

  • Contributing to this is the sunset of ACP, which has temporarily impacted both gross adds and disconnects in this segment on a year-over-year basis.

    導致這一現象的原因是 ACP 的退出,它暫時影響了該細分市場的年比總成長和脫節。

  • We continue to manage these customers with tailored offers to repackage them into best value products and services that fit their connectivity needs and price sensitivity, from low income offerings for qualified customers to adding mobile to save more on their bills plus added discounts.

    我們繼續透過量身定制的優惠來管理這些客戶,將他們重新包裝成最有價值的產品和服務,以滿足他們的連接需求和價格敏感性,從為合格客戶提供低收入產品到增加行動裝置以節省更多帳單以及增加折扣。

  • As Dennis mentioned earlier, we have seen green shoots throughout our hyper-local go-to-market efforts and these efforts are just starting to take form.

    正如丹尼斯之前提到的,我們在超本地化的市場推廣工作中看到了萌芽,而這些努力才剛開始形成。

  • Aside from our low-income segment, we see improved gross add activity year-over-year.

    除了低收入群體之外,我們還看到總增加活動年比有所改善。

  • Further, in July we see stabilizing broadband subscriber trends compared to the prior-year July.

    此外,與去年 7 月相比,我們看到 7 月寬頻用戶趨勢趨於穩定。

  • We continue to see pressure from the low-income segment, but we are pleased with the underlying stabilization of the business, which gives us confidence that we are well positioned to return to long-term growth.

    我們繼續看到來自低收入市場的壓力,但我們對業務的基本穩定感到滿意,這讓我們相信我們有能力恢復長期成長。

  • Overall, as we continue to enhance our base management strategies such as improved customer communication and speed rightsizing, we have the opportunity to deepen our customer relationships and maximize CLV by retaining long-tenured customers and selling additional products.

    總體而言,隨著我們繼續加強我們的基礎管理策略,例如改善客戶溝通和速度調整規模,我們有機會透過保留長期客戶和銷售外產品來加深我們的客戶關係並最大化 CLV。

  • We have a strong base of broadband customers, the majority of whom have been with us for five years or more, take multiple products and churn less compared to early-tenured customers.

    我們擁有強大的寬頻客戶群,其中大多數已經與我們合作五年或更長時間,與早期客戶相比,他們使用多種產品,且流失率較低。

  • Turning to slide 10, we will review our capital expenditures and network investments.

    轉向投影片 10,我們將審查我們的資本支出和網路投資。

  • Cash capital expenditures were $348 million, which was down 27% year-over-year in Q2.

    第二季現金資本支出為 3.48 億美元,較去年同期下降 27%。

  • In capital intensity, our cash CapEx as a percentage of total revenue in the quarter was 15.5%, down about 5 percentage points versus Q2 last year.

    在資本密集度方面,本季我們的現金資本支出佔總收入的百分比為 15.5%,比去年第二季下降了約 5 個百分點。

  • Recall in 2023, our capital spent was weighted more towards the first half of the year.

    回想 2023 年,我們的資本支出較集中在上半年。

  • Therefore, we are comparing to higher CapEx which included a greater investment in fiber passing construction.

    因此,我們正在比較更高的資本支出,其中包括對光纖傳輸建設的更大投資。

  • In Q2 2024, we added 62,000 additional fiber passings and we expect to end the year with around 3 million fiber passings.

    2024 年第二季度,我們新增了 62,000 個光纖通道,預計到年底將增加約 300 萬個光纖通道。

  • Additionally, we expanded our total passing footprint by 67,000 in the quarter and we expect to add over 175,000 total passings this year.

    此外,本季我們的總通行次數增加了 67,000 次,預計今年的總通行次數將增加超過 175,000 次。

  • As Dennis mentioned, our HFC plant continues to perform well and we are maximizing this network with quality enhancements in a capital-efficient manner.

    正如丹尼斯所提到的,我們的 HFC 工廠繼續表現良好,我們正在以資本高效的方式透過提高品質來最大化這個網路。

  • For example, we are increasing broadband capacity for over 2.5 million customers by allocating bandwidth more efficiently to improve both upload and download speeds.

    例如,我們透過更有效地分配頻寬來提高上傳和下載速度,從而為超過 250 萬客戶增加寬頻容量。

  • We continue to split nodes to create more capacity on our network and we are doing this at a lower cost.

    我們繼續拆分節點以在網路上創造更多容量,並且我們正在以更低的成本做到這一點。

  • We have strengthened our efforts around proactive and preventative network maintenance, with enhanced processes and tools to identify in fixed network and equipment issues before a customer would ever notice.

    我們加強了主動性和預防性網路維護方面的工作,透過增強的流程和工具來在客戶注意到之前識別固定網路和設備問題。

  • All of these enhancements regarding recognition, from improved customer experience to third-party published awards and improved Google review scores, validating that we are making the right investments to strengthen our networks.

    所有這些與認可相關的增強功能,從改善的客戶體驗到第三方發布的獎項以及提高的 Google 評論分數,都證明我們正在做出正確的投資來加強我們的網路。

  • We remain focused on network enhancements with capital efficiency to prioritize the highest returns and benefits to our customers while remaining disciplined around capital intensity.

    我們仍然專注於增強網路和資本效率,優先考慮為客戶提供最高回報和利益,同時保持資本密集度。

  • Please note we expect capital intensity to increase slightly in the back half of this year as we migrate more customers to fiber and continue to invest in our network.

    請注意,隨著我們將更多客戶遷移到光纖並繼續投資於我們的網絡,我們預計今年下半年的資本密集度將略有增加。

  • As we have remained disciplined in the first half of this year, we now anticipate full year CapEx to come under $1.6 billion, which is slightly lower than the range of our initial guidance.

    由於我們在今年上半年保持了紀律,我們現在預計全年資本支出將低於 16 億美元,略低於我們最初的指導範圍。

  • And finally, on slide 11, I would like to review our debt maturity profile.

    最後,在投影片 11 上,我想回顧一下我們的債務到期。

  • We are well positioned with a clear runway of maturities until 2027.

    我們已做好充分準備,在 2027 年之前有明確的成熟期。

  • At the end of Q2, our weighted average cost of debt is 6.5% and our weighted average life is 4.6 years. 85% of our total debt stack is fixed, inclusive of floating to fixed interest rate swaps.

    第二季末,我們的加權平均債務成本為 6.5%,加權平均壽命為 4.6 年。我們總債務的 85% 是固定的,包括浮動利率到固定利率掉期。

  • Our leverage ratio is 7.2 times the last two quarters annualized adjusted EBITDA.

    我們的槓桿率為過去兩季年化調整後 EBITDA 的 7.2 倍。

  • We will continue to be proactive in managing our debt maturities and evaluate how to best ensure that our capital structure supports our long-term operating goals.

    我們將繼續積極主動地管理我們的債務到期日,並評估如何最好地確保我們的資本結構支持我們的長期營運目標。

  • While we are well positioned in the near term, we are looking at all options to maintain a capital structure that supports our long-term strategic objectives.

    雖然我們在短期內處於有利地位,但我們正在考慮所有選擇來維持支持我們長期策略目標的資本結構。

  • In conclusion, we have the right strategy in place with a focus on profitability, financial discipline and enhancing the customer experience, with a segmented go-to-market approach, all of which positions us on a path to sustainable long-term growth.

    總而言之,我們制定了正確的策略,重點是獲利能力、財務紀律和增強客戶體驗,並採用細分市場的方法,所有這些都使我們走上了可持續長期成長的道路。

  • With that, we will now take any questions.

    現在我們將回答任何問題。

  • Operator

    Operator

  • (Operator Instructions) Frank Louthan, Raymond James.

    (操作員說明)Frank Louthan、Raymond James。

  • Frank Louthan - Analyst

    Frank Louthan - Analyst

  • Great, thank you.

    太好了,謝謝。

  • Can you give us an idea of the current run rate savings from the truck rolls and the call center inbounds?

    您能否向我們介紹一下目前上門服務和呼叫中心入站運作費用節省的情況?

  • And then as a follow-up, where do you think you are as far as integrating AI in your business for efficiencies and so forth?

    接下來,您認為在將人工智慧整合到您的業務中以提高效率等方面,您的進展如何?

  • What kind of -- give us tonight kind of what inning you're in or something like that.

    是什麼樣的——告訴我們今晚你在哪一局或類似的事情。

  • Thank you.

    謝謝。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Hey, Frank, we're really excited about the improvements that we're seeing in our operations.

    嘿,弗蘭克,我們對運營中所看到的改進感到非常興奮。

  • As I mentioned, 1.7 million fewer calls, 235,000 fewer truck rolls and there's more opportunity.

    正如我所提到的,電話數量減少了 170 萬次,上門服務數量減少了 235,000 次,機會也更多了。

  • We're leaning into self-install.

    我們傾向於自行安裝。

  • We're leaning into just more proactively communicating with our customers. 56% increase in self-install this past quarter.

    我們傾向於更主動地與客戶溝通。上個季度的自行安裝量增加了 56%。

  • And we're sending messages proactively when folks are having outages or service interruptions, service visits, installs, and this is all driving savings, this is all driving fewer calls, fewer truck rolls, just less noise in the system and that's translating into improved customer experience.

    當人們遇到停電或服務中斷、服務存取、安裝時,我們會主動發送訊息,一切都可以節省成本,減少呼叫,減少上門服務,減少系統噪音,從而轉化為改善客戶體驗。

  • We are taking those savings and optimizing our OpEx structure, and I'll let Marc talk to that a bit in a second, but then we're investing as well, and we're being disciplined about that investment.

    我們正在利用這些節省並優化我們的營運支出結構,我會讓馬克稍後談談這一點,但我們也在投資,我們正在對投資進行嚴格約束。

  • We talked a bit about AI, and our first step in that direction was launching a tool in our retention queues to help our agents more effectively manage call volumes coming in based on the customer's lifetime value, the product set, and really provide them offers that were accustomed to their needs.

    我們討論了一些關於人工智慧的話題,我們朝這個方向邁出的第一步是在保留隊列中推出一個工具,幫助我們的客服人員根據客戶的終身價值、產品集更有效地管理傳入的呼叫量,並真正為他們提供以下優惠:習慣了他們的需求。

  • And it also takes into consideration the competitive intensity in the market so that it's not a one-size-fits-all when we're taking those calls.

    它還考慮了市場的競爭強度,因此當我們接聽這些電話時,它並不是一刀切的。

  • And that is allowing us to have -- drive better save rates and drive ARPU -- drive improvements in ARPU erosion.

    這使我們能夠——推動更好的儲蓄率並推動 ARPU——推動 ARPU 侵蝕的改善。

  • And so, we're continuing on this journey.

    因此,我們將繼續這趟旅程。

  • We're running pilots in our care centers.

    我們正在我們的護理中心進行試點。

  • We're running pilots with our field teams, and we're seeing real opportunity to just help us elevate our customer experience, make it simpler for our employees to have easier tools, find the solutions faster, solve the issues faster, to ultimately deliver a more effective experience and drive even further efficiency as we go into the second half of the year and into '25.

    我們正在與我們的現場團隊一起進行試點,我們看到了真正的機會來幫助我們提升客戶體驗,讓我們的員工更輕鬆地擁有更簡單的工具,更快地找到解決方案,更快地解決問題,最終交付當我們進入下半年和 25 世紀時,我們將提供更有效的體驗並進一步提高效率。

  • Marc?

    馬克?

  • Yeah, Frank, I would just add, you see in our OpEx costs, we've been able to make these investments that Dennis has mentioned and keep our operational costs flat.

    是的,弗蘭克,我想補充一點,你可以在我們的營運成本中看到,我們已經能夠進行丹尼斯提到的這些投資,並使我們的營運成本保持不變。

  • We were down sequentially quarter-over-quarter, which we were pleased about.

    我們的季度環比下降,對此我們感到很高興。

  • And so, while we drive out the truck rolls and the phone calls, we're able to reinvest in this type of technology.

    因此,當我們減少上門服務和電話時,我們能夠對此類技術進行再投資。

  • I would characterize it, Frank, as early innings with AI.

    弗蘭克,我將其描述為人工智慧的早期階段。

  • We've -- as Dennis mentioned, we have it in front of all of our retention agents today.

    正如丹尼斯所提到的,我們今天已將其擺在所有保留代理面前。

  • By the end of the third quarter, we'll have it in front of all of our care agents, and again, tailored actions at the individual customer level.

    到第三季末,我們將把它提供給我們所有的護理代理,並再次在個人客戶層面採取量身定制的行動。

  • So really excited about where AI is going to take this company, and it's really helping us guide the operations.

    對於人工智慧將帶領這家公司走向何方,我感到非常興奮,它確實幫助我們指導了營運。

  • And you see it in the stable ARPU.

    您可以在穩定的 ARPU 中看到這一點。

  • Despite the video pressures that we see, we're able to maintain our video ARPU, so really pleased on our progress, but still early innings.

    儘管我們看到了視訊壓力,但我們仍然能夠維持我們的視訊 ARPU,因此對我們的進展感到非常高興,但仍處於早期階段。

  • Operator

    Operator

  • Kutgun Maral, Evercore ISI.

    Kutgun Maral,Evercore ISI。

  • Kutgun Maral - Analyst

    Kutgun Maral - Analyst

  • Good morning, and thanks for taking the questions, one on the outlook for EBITDA and one on the strategic value of legacy Optimum.

    早安,感謝您提出問題,一個是關於 EBITDA 的前景,另一個是關於傳統 Optimum 的戰略價值。

  • First, on EBITDA, I appreciate that you don't provide explicit guidance and that there are a number of moving pieces across what you can and cannot control.

    首先,關於 EBITDA,我很欣賞您沒有提供明確的指導,並且存在許多您可以控制和無法控制的變更因素。

  • But can you talk to some of the moving pieces we should be mindful of for the back half and how we should think about the full year?

    但您能否談談下半年我們應該注意的一些令人感動的事情以及我們應該如何看待全年?

  • And second, on the strategic value of the legacy Optimum footprint, there have been some headlines recently around fiber assets and various partnerships.

    其次,關於傳統 Optimum 足跡的戰略價值,最近出現了一些有關光纖資產和各種合作夥伴關係的頭條新聞。

  • I know the focus for the management team and the board has perhaps shifted over the years more towards improving underlying operations of the business as opposed to asset monetization.

    我知道管理團隊和董事會的重點多年來可能更多地轉向改善業務的基礎運營,而不是資產貨幣化。

  • But given legacy Optimum is in the top DMA with meaningful progress on the fiber build, are you now at a point where maybe there's any interest or willingness to engage in monetizing it in some capacity?

    但鑑於傳統 Optimum 處於頂級 DMA 中,並且在光纖構建方面取得了有意義的進展,您現在是否有興趣或願意以某種能力將其貨幣化?

  • Thank you.

    謝謝。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Thanks, Kutgun.

    謝謝,庫特貢。

  • I'll take the second question first and then I'll throw it over to Marc.

    我先回答第二個問題,然後交給馬克。

  • But we are continuing to be laser-focused on transforming this organization, and we're really excited about the progress that we're making.

    但我們將繼續專注於改變這個組織,我們對所取得的進展感到非常興奮。

  • And the legacy cable vision or the east footprint is one that we're laser-focused on.

    傳統的有線電視願景或東部足跡是我們重點關注的目標之一。

  • We've launched our new hyper-local go-to-market playbooks in the past quarter, and we are seeing incredible stabilization across our footprint in over a 100 of the markets that we've launched, which includes the east.

    我們在上個季度推出了新的超本地化市場策略,在我們推出的 100 多個市場(其中包括東部)中,我們看到我們的足跡實現了令人難以置信的穩定。

  • And we're seeing improved performance, particularly in our fiber footprint and particularly where we overlap with Verizon.

    我們看到性能得到改善,特別是在我們的光纖覆蓋範圍以及與 Verizon 重疊的地方。

  • We are seeing our ability to compete improve, and we're going to continue to lean into that.

    我們看到我們的競爭能力有所提高,我們將繼續致力於這一點。

  • We're still in the early innings.

    我們還處於早期階段。

  • I'm really proud of what the team has accomplished.

    我對團隊所取得的成就感到非常自豪。

  • We have won award after award by third-party independent organizations.

    我們屢獲第三方獨立組織頒發的獎項。

  • As I mentioned, Ookla named us the fastest and most reliable in New York and in New Jersey in that DMA that you're discussing.

    正如我所提到的,在您正在討論的 DMA 中,Ookla 認為我們是紐約和新澤西州最快、最可靠的。

  • PCMag named us the top ISP in the Mid-Atlantic, which includes New York and New Jersey.

    PCMag 將我們評為大西洋中部地區(包括紐約和新澤西州)的頂級 ISP。

  • But there's more work to do, and we know that the competitive pressures continue to ramp up.

    但還有更多工作要做,我們知道競爭壓力持續加大。

  • But we have the products, we have the service, we have the tools to compete effectively in the east, and we want to continue to drive improvements and continue to accelerate our transformation.

    但我們有產品、有服務、有在東方有效競爭的工具,我們希望繼續推動改進並繼續加速我們的轉型。

  • So that's what we're focused on today.

    這就是我們今天的重點。

  • Marc, you want to talk about the EBITDA piece?

    馬克,你想談談 EBITDA 部分嗎?

  • Marc Sirota - Chief Financial Officer

    Marc Sirota - Chief Financial Officer

  • Yeah.

    是的。

  • Kutgun, on a full year basis, we expect our year-over-year EBITDA declines to moderate versus the prior year.

    Kutgun,從全年來看,我們預期 EBITDA 年比下降幅度將較上年放緩。

  • This is really driven by all the operational improvements that we've talked about, that we've made over the past year.

    這實際上是由我們所討論的、我們在過去一年中所做的所有營運改進所推動的。

  • This includes all the investments we made in our customers, such as the speed rightsizing activities, all the investments in our network.

    這包括我們對客戶的所有投資,例如速度調整活動、對我們網路的所有投資。

  • And you see that really transforming our truck rolls and our service calls, which we just talked about, and then just really pleased on the stabilization of ARPU.

    您會看到,這確實改變了我們的上門服務和服務電話,我們剛才談到了這一點,然後對 ARPU 的穩定性感到非常高興。

  • And we do see a path for growth there.

    我們確實在那裡看到了一條增長之路。

  • And again, that's mainly tied to discipline and use of AI to drive each conversation with our customers.

    再說一遍,這主要與紀律和使用人工智慧來推動與客戶的每次對話有關。

  • So it's these investments that give us confidence that we will drive EBITDA improvements over this year and then in the long term.

    因此,正是這些投資讓我們有信心,我們將在今年乃至長期推動 EBITDA 的改善。

  • And that's really what we're focused on, is long-term sustainable EBITDA growth.

    這才是我們真正關注的重點,即長期可持續的 EBITDA 成長。

  • And so, that's where we feel things are heading and feel good about it.

    因此,這就是我們認為事情正在發展的方向,並且對此感覺良好。

  • Operator

    Operator

  • Michael Rollins, Citibank.

    麥可羅林斯,花旗銀行。

  • Michael Rollins - Analyst

    Michael Rollins - Analyst

  • Thanks, and good morning.

    謝謝,早安。

  • I'm just curious if you could provide more specifics on how ACP impacted broadband performance in the second quarter and your expectations for how it may specifically impact the performance in the second half.

    我只是好奇您能否提供更多有關 ACP 如何影響第二季度寬頻性能的具體信息,以及您對其如何具體影響下半年性能的預期。

  • And then, just taking a step back, can you share where you are today on the percent of the broadband base that now has that simplified rate card and the timing to get to the rest of the customers?

    然後,退後一步,您能否分享一下目前擁有簡化價目表的寬頻基礎的百分比以及到達其他客戶的時間?

  • Thanks.

    謝謝。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Thanks, Michael.

    謝謝,麥可。

  • On ACP, as Marc mentioned just broadly, as we look at the low-income segment, we did see a bit of a slowdown in some headwinds as it relates to that segment in particular, both from a growth add and from a disconnect perspective.

    在ACP 上,正如Marc 廣泛提到的那樣,當我們審視低收入細分市場時,我們確實看到一些不利因素有所放緩,因為它特別與該細分市場相關,無論是從成長增加還是從脫節角度來看。

  • ACP specifically, we're really happy with our performance.

    特別是 ACP,我們對自己的表現非常滿意。

  • We saw a very nominal increased churn from our baseline.

    我們看到客戶流失率與基線相比略有增加。

  • And I think that's really attributable again to the incredible work the team did to prepare and to be able to offer our customers options.

    我認為這再次歸功於團隊為準備工作所做的令人難以置信的工作,並能夠為我們的客戶提供選擇。

  • We've leveraged our tools and leveraged offers and packages to help rightsize people in terms of their needs, getting them into packages that rightsize their speeds, rightsize their package with optimum mobile and really making sure that they had the right products that they needed.

    我們利用我們的工具、優惠和套餐來幫助根據人們的需求調整他們的規模,讓他們進入調整他們的速度的套餐,透過最佳的行動裝置調整他們的套餐,並真正確保他們擁有他們需要的正確產品。

  • So incredible performance on the disconnect side, but we have seen that the subsidy and just generally a bit of a slowdown in terms of gross adds.

    斷開連接方面的表現如此令人難以置信,但我們看到補貼以及總增加量總體上有所放緩。

  • And when I look at our general performance, that is where I see our headwinds that occurred in the second quarter.

    當我審視我們的整體表現時,我看到了第二季出現的不利因素。

  • But we feel that we do have the right products and the right services to compete long term.

    但我們認為我們確實擁有合適的產品和服務來進行長期競爭。

  • We have incredible value.

    我們擁有難以置信的價值。

  • Our focus remains -- quality and value.

    我們的重點仍然是—品質和價值。

  • And when we look at value and we look at Optimum complete, we now have Optimum stream that is launching across the footprint.

    當我們考慮價值並考慮 Optimum 完整時,我們現在已經在整個足跡中啟動了 Optimum 流。

  • Entertainment TV is an incredible value.

    娛樂電視具有令人難以置信的價值。

  • As I mentioned, a new video package.

    正如我所提到的,一個新的視頻包。

  • We believe that long term we do have now the right products and the capabilities to be able to compete across every segment.

    我們相信,從長遠來看,我們現在確實擁有合適的產品和能力,能夠在每個細分市場中競爭。

  • In terms of our broadband retail pricing, I'll throw that over to Marc to just provide a little bit more color.

    就我們的寬頻零售定價而言,我將把它交給馬克來提供更多的色彩。

  • Marc Sirota - Chief Financial Officer

    Marc Sirota - Chief Financial Officer

  • Yeah, Michael, we're pleased with overall ARPU trajectory and our stabilization that we've talked about.

    是的,邁克爾,我們對整體 ARPU 軌跡以及我們所討論的穩定性感到滿意。

  • From a rate card perspective, all of our fiber rate card is now fixed and reset.

    從價目表的角度來看,我們所有的光纖價目表現都已修復並重置。

  • And then, we will over time -- and this will be a multi-year journey, we will set the HFC rate card.

    然後,隨著時間的推移,這將是一個多年的旅程,我們將製定 HFC 價目表。

  • So still fairly early days on that side of the house.

    所以在房子的那一側還處於相當早期的時期。

  • Again, we did not see any material impact from the change here.

    同樣,我們沒有看到這裡的變化有任何實質影響。

  • And we'll continue to manage ARPU on an individual customer basis and feel that there's a path to real growth as we continue to accelerate selling in more products like fiber, like mobile and other ancillary services.

    我們將繼續在個人客戶的基礎上管理 ARPU,並認為隨著我們繼續加速光纖、行動和其他輔助服務等更多產品的銷售,我們將有一條真正成長的道路。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Yeah, I'll just continue to reiterate that our -- the philosophy or strategy around our pricing strategy has been providing transparency, predictability and just eliminating a bit of the confusion that existed with the old rate cards and promo roll strategy.

    是的,我將繼續重申,我們的定價策略的理念或策略一直是提供透明度、可預測性,並消除舊價目表和促銷卷策略中存在的一些混亂。

  • And we're seeing real benefits from that.

    我們從中看到了真正的好處。

  • We're seeing that we're able to continue to implement that strategy and provide the clarity that our customers are looking for.

    我們看到我們能夠繼續實施該策略並提供客戶所尋求的清晰度。

  • Operator

    Operator

  • Craig Moffett, Moffett Nathanson.

    克雷格·莫菲特,莫菲特·內森森。

  • Craig Moffett - Analyst

    Craig Moffett - Analyst

  • Hi, good morning.

    嗨,早安。

  • Let me ask about some of the green shoots that you've pointed to.

    讓我問你提到的一些新芽。

  • Can you quantify for us a real change in the trajectory of, in particular, broadband, I guess broadband retention and net adds in any of these kind of green shoot cohorts, whether it's the customers who've had the pricing rightsize that you just talked about, the customers who are in your fiber markets, the customers who are in your mobile converged bundles or even just in your hyper-local segmented market, so that we can kind of do something a little more tangible so that we can see once this is done and then as it rolls out that we can have more confidence in the trajectory of broadband in particular.

    您能否為我們量化軌蹟的真正變化,特別是寬頻,我想寬頻保留率和淨增加在任何此類新芽群體中,無論是您剛才談到的具有適當定價規模的客戶關於,在您的光纖市場中的客戶,在您的行動融合捆綁中的客戶,甚至只是在您的超本地細分市場中的客戶,以便我們可以做一些更具體的事情,以便我們可以看到一旦發生這種情況完成之後,隨著它的推出,我們可以對寬頻的發展軌跡更有信心。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Yeah, Craig, what I'll say is that we're really excited about the stabilization of churn.

    是的,克雷格,我要說的是,我們對客戶流失率的穩定感到非常興奮。

  • You know, we were really, prior to me joining and launching these playbooks, we were really struggling as fiber overbuilders came into our footprint, the impact that those folks were having was fairly outsized in terms of taking share and these local playbooks have stabilized that.

    你知道,在我加入並推出這些劇本之前,我們確實在苦苦掙扎,因為光纖過度建設者進入了我們的足跡,這些人在份額方面所產生的影響相當大,而這些本地劇本已經穩定了這一點。

  • And when I look at our performance in Q2, we saw a meaningful stabilization and improvement in churn.

    當我查看第二季的表現時,我們看到客戶流失率得到了有意義的穩定和改善。

  • And really, the headwinds, when we look at the performance, was on the gross add side and really tied to the low income segment.

    事實上,當我們審視業績時,不利因素是在總增加方面,並且確實與低收入群體有關。

  • And so, when I look at the speed rightsizing, and I'll let Marc add a bit of color, across these tactics, we are seeing improvements in churn. 50% of those folks are just being moved off of legacy speeds and we're seeing their satisfaction improve, we're seeing call volumes decrease, and we're seeing a level of loyalty and stickiness tied to that improvement.

    因此,當我考慮速度調整時,我會讓 Marc 在這些策略中添加一些色彩,我們看到客戶流失率有所改善。其中 50% 的人只是擺脫了傳統速度,我們看到他們的滿意度有所提高,我們看到呼叫量減少,並且我們看到與這種改進相關的忠誠度和黏性程度。

  • Similarly, for those customers that are taking mobile, their churn profile is also better.

    同樣,對於那些使用行動裝置的客戶來說,他們的流失情況也更好。

  • And then as we go market by market and we're able to compete and we're able to drive our base management strategies, we're seeing that we are able to stabilize and even see record level of improvement in churn.

    然後,當我們逐個市場進入時,我們能夠競爭,我們能夠推動我們的基本管理策略,我們看到我們能夠穩定下來,甚至看到客戶流失率的改善達到創紀錄的水平。

  • And so, now, our job is to continue to drive that go-to-market in a more meaningful way across every town, across every market, both in terms of base stabilization as well as driving our acquisition and go-to-market.

    因此,現在,我們的工作是繼續以更有意義的方式推動每個城鎮、每個市場的上市,無論是在基礎穩定方面還是在推動我們的收購和上市方面。

  • And we're seeing some improvements there as well.

    我們也看到了一些改進。

  • When we look at our win share and our ability to drive win share and bend the curve town by town, we are seeing our ability to do that, particularly as I look at some of these towns where we're competing against these fiber overbuilders.

    當我們審視我們的勝利份額以及我們推動勝利份額和扭轉城鎮曲線的能力時,我們看到了我們做到這一點的能力,特別是當我看到我們正在與這些光纖過度建設者競爭的一些城鎮時。

  • Marc, anything you'd like to add?

    馬克,你還有什麼要補充的嗎?

  • Marc Sirota - Chief Financial Officer

    Marc Sirota - Chief Financial Officer

  • Yeah, just around speed rightsizing in fiber in particular, we're seeing that these tactics are working.

    是的,尤其是在光纖速度調整方面,我們看到這些策略正在發揮作用。

  • We see combined double-digit churn improvements coming out of customers that take their fiber product or speed rightsized.

    我們看到,採用光纖產品或速度調整的客戶帶來了兩位數的客戶流失率綜合改善。

  • So we feel that these types of tactics in addition to our individual customer treatments that we're doing are stabilizing the base.

    因此,我們認為,除了我們正在做的個人客戶待遇之外,這些類型的策略正在穩定基礎。

  • And again, as Dennis mentioned, we do see acceleration in our non-low-income segments around gross ad performance.

    正如丹尼斯所提到的,我們確實看到非低收入細分市場的廣告總表現正在加速成長。

  • And so, that gives us optimism around where the business is -- from a core base is heading.

    因此,這讓我們對業務的現狀感到樂觀——核心基礎正在走向。

  • Coupled with the investments we've made on customer experience and driving churn to all-time lows, we feel like there's a real path to sustainable growth over time.

    再加上我們在客戶體驗方面所做的投資並將客戶流失率降至歷史最低點,我們認為隨著時間的推移,有一條真正的可持續成長之路。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Yeah.

    是的。

  • And the other piece that we're leaning into, as I mentioned, was the value-added services, where we have an opportunity, a real opportunity, to further drive services into the base.

    正如我所提到的,我們正在關注的另一塊是增值服務,我們有機會,真正的機會,進一步將服務推向基礎。

  • We launched our new total care solution and within a few weeks, without any marketing, we've already added several thousand customers.

    我們推出了新的全面護理解決方案,幾週之內,在沒有任何行銷的情況下,我們增加了數千名客戶。

  • And so, just having a much more proactive, strategic base management strategy, as we launch these new services and sell that into the base, we believe that, that will further accelerate our transformation.

    因此,當我們推出這些新服務並將其銷售到基地時,只要製定更積極主動的策略基地管理策略,我們相信,這將進一步加速我們的轉型。

  • Operator

    Operator

  • Sebastiano Petti, JP Morgan.

    塞巴斯蒂亞諾·佩蒂,摩根大通。

  • Sebastiano Petti - Analyst

    Sebastiano Petti - Analyst

  • Hi, thank you.

    你好,謝謝。

  • If I could just maybe ask a quick follow-up to Mike's question earlier, just, thinking about the second quarter, you talked about the majority of the decline, right, that could be attributed to the low-income segment.

    如果我可以先對麥克的問題進行快速跟進,想想第二季度,您談到了大部分下降,對吧,這可能歸因於低收入群體。

  • But help us perhaps think about, in light of that, you talked about June there was some stabilization there.

    但也許請幫我們想想,有鑑於此,您談到六月那裡有一些穩定。

  • As we think about the ACP impact, thinking about what your peers have messaged in terms of non-pay disconnect as well pressure coming through, would the expectation be, considering June was, quote-unquote, stable on a year-on-year basis, do you expect to see additional non-paid disconnects?

    當我們考慮 ACP 的影響時,考慮一下您的同行在非薪酬脫節以及即將面臨的壓力方面所傳達的信息,考慮到 6 月份同比穩定,預期是否會如此,您是否希望看到更多的非付費斷線?

  • Should we be thinking about the third quarter of 2024 looking something like 2023 in terms of losses whereas perhaps maybe non-pay disconnect pressure from an ACP could be offset by some of the base management and other strategies you just kind of articulated?

    我們是否應該考慮 2024 年第三季的損失與 2023 年類似,而 ACP 帶來的非薪資中斷壓力可能可以透過您剛才闡述的一些基本管理和其他策略來抵銷?

  • I'm just trying to get a better sense on how we should think about the impact flowing through because messaging from peers and competitors has been, there's probably still more to come in the back half of the year in terms of ACP headwinds.

    我只是想更好地了解我們應該如何考慮所帶來的影響,因為來自同行和競爭對手的資訊表明,今年下半年 ACP 的不利因素可能還會出現更多。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Yeah.

    是的。

  • Sebastiano, the comment on stabilization was in July.

    Sebastiano,關於穩定的評論是在七月。

  • We are seeing stabilization in July, and we anticipate further stabilization in the second half of the year.

    我們看到 7 月趨於穩定,預計下半年將進一步趨於穩定。

  • We've launched our new local --- hyper-local playbooks in the second quarter, and we do believe that they're going to continue to provide us meaningful acceleration as we look at implementing them town by town, offers at the town level and having marketing tactics at the town level and being able to compete more effectively head-on with these fiber overbuilders and fixed wireless.

    我們在第二季度推出了新的本地——超本地劇本,我們確實相信,當我們考慮逐個城鎮實施它們時,它們將繼續為我們提供有意義的加速,並在城鎮層面提供服務並在城鎮一級制定行銷策略,並能夠與這些光纖過度建設者和固定無線網路進行更有效的正面競爭。

  • We're still in the early innings and we're seeing some benefit.

    我們仍處於早期階段,我們已經看到了一些好處。

  • We started to see some of those benefits, particularly in stabilizing churn, and now it's helping us compete more effectively from an acquisition perspective.

    我們開始看到其中的一些好處,特別是在穩定客戶流失方面,現在它正在幫助我們從收購的角度更有效地競爭。

  • But I'll throw it over to Marc to add any color he'd like on ACP and the low-income segment.

    但我會把它交給 Marc,讓他在 ACP 和低收入群體上添加他想要的任何色彩。

  • Marc Sirota - Chief Financial Officer

    Marc Sirota - Chief Financial Officer

  • Yeah.

    是的。

  • In addition to some of the conversations we've already had this morning, we are launching AI tools within our non-pay segment as well.

    除了我們今天早上已經進行的一些對話之外,我們還在非付費領域推出人工智慧工具。

  • It's too early to tell exactly what's going to happen with the ACP population, but we feel confident that we have the right offers and the right strategy to manage these customers through that conversation.

    現在要準確判斷 ACP 族群將會發生什麼事還為時過早,但我們相信我們有正確的產品和正確的策略來透過對話來管理這些客戶。

  • Again, too early to say, but we feel like we have the playbook in place to manage through it.

    再說一次,現在說還太早,但我們覺得我們已經制定了應對策略。

  • (multiple speakers)

    (多個發言者)

  • Sebastiano Petti - Analyst

    Sebastiano Petti - Analyst

  • I was going to ask follow-up on a different topic.

    我本來想問另一個主題的後續情況。

  • So just thinking about the migration rate on the fiber side, can you perhaps, you know, help us think about -- or give us the migration rate this quarter and how we should perhaps think about how that could change as you perhaps, you know, accelerate migrations in the back half of the year?

    因此,只要考慮一下光纖方面的遷移率,您也許可以幫助我們思考一下,或者給我們本季度的遷移率,以及我們應該如何考慮這種情況可能會如何改變,正如您可能知道的那樣、下半年加速遷移?

  • Thank you.

    謝謝。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Yeah, in our fiber performance, we had 60% migrations.

    是的,在我們的光纖性能中,我們有 60% 的遷移。

  • We had an all-time high in Q1 and that really helped us understand some of the challenges that we were dealing with in terms of operational and technical issues tied to the migrations.

    我們在第一季創下了歷史新高,這確實幫助我們了解了我們在與遷移相關的營運和技術問題方面所面臨的一些挑戰。

  • As I had mentioned in earlier calls, we have purposely took a little bit of a slowdown so that we could solve those technical issues.

    正如我在之前的電話會議中提到的,我們故意放慢了速度,以便解決這些技術問題。

  • And I'm pleased to report those technical issues have been solved.

    我很高興地報告這些技術問題已經解決。

  • And so, our goal is to integrate this now into all of our channels to drive a much more meaningful pace of migration in the second half of the year.

    因此,我們的目標是立即將其整合到我們所有的管道中,以在今年下半年推動更有意義的遷移步伐。

  • Now that we have a much more seamless process to migrate customers, we're integrating strategies and tactics into our care channels, into our retail centers, into our retention channels.

    現在我們有了更無縫的客戶遷移流程,我們正在將策略和策略整合到我們的護理管道、零售中心和保留管道中。

  • Every time we have an opportunity to interact with these -- with our customers, we will now be able to confidently present them with a migration option and get them into the best products.

    每當我們有機會與這些客戶互動時,我們現在就能夠自信地向他們提供遷移選項,並讓他們使用最好的產品。

  • And we also feel very comfortable now that we have the right video solutions to pair along with our broadband fiber product.

    現在我們也感到非常放心,因為我們擁有與我們的寬頻光纖產品搭配的正確視訊解決方案。

  • As I mentioned, we've launched Stream across the entire tri-state.

    正如我所提到的,我們已經在整個三州推出了 Stream。

  • That was also a critical element of being able to accelerate.

    這也是能夠加速的關鍵因素。

  • As you know, in the east footprint, we do have customers that take both broadband and video and have broadband and video.

    如您所知,在東部足跡中,我們確實有同時使用寬頻和視訊並且擁有寬頻和視訊的客戶。

  • And so, we needed to make sure we had a full solution set that we could confidently present our existing customers.

    因此,我們需要確保擁有一套完整的解決方案,以便我們能夠自信地向現有客戶展示。

  • And we do have that now.

    我們現在確實擁有了。

  • And so, our pace will accelerate -- the goal is to accelerate our pace meaningfully in the second half.

    因此,我們的步伐將會加快——目標是在下半年有意義地加快我們的步伐。

  • Operator

    Operator

  • MaryAnne Zhao, Morgan Stanley.

    瑪麗安趙,摩根士丹利。

  • (Operator Instructions) Jessica Reif Ehrlich, Bank of America.

    (操作員說明)Jessica Reif Ehrlich,美國銀行。

  • Jessica Reif Ehrlich - Analyst

    Jessica Reif Ehrlich - Analyst

  • Thank you.

    謝謝。

  • I guess two questions, one on advertising.

    我想有兩個問題,一是關於廣告。

  • Second quarter was disappointing, down 7%.

    第二季的表現令人失望,下降了 7%。

  • But you sound super optimistic about second half.

    但你聽起來對下半年非常樂觀。

  • Can you give us some color on, expectations, if you can parse out political, which clearly should be strong versus what you're seeing in the underlying advertising market?

    如果你能分析出政治因素,你能給我們一些關於期望的顏色嗎?

  • And then secondly, it didn't really come up on the call, but you are overbuilding a couple of markets.

    其次,它並沒有真正在電話會議中出現,但你過度建造了幾個市場。

  • Can you give us an update on what you're seeing, both in your efforts to overbuild and then others who are also coming into your markets, what you're seeing?

    您能否向我們介紹一下您所看到的最新情況,無論是您在過度建設方面的努力,還是其他也進入您市場的人,您所看到的情況?

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Hey, Jessica, I'll cover the overbuilding and then I'll throw it over to Marc to talk about the advertising trends.

    嘿,傑西卡,我會討論過度建設的問題,然後我會把它交給馬克來談談廣告趨勢。

  • We are building out in New Jersey, in Montclair and West Orange, and we're on track to launch later in Q3.

    我們正在新澤西州、蒙特克萊爾和西奧蘭治進行建設,預計將在第三季稍後推出。

  • We have -- when we look at that opportunity in particular, we look at the overall return on investment and we look at the cost, and given our footprint, it was an opportunity for us to continue to build out our plant and offer incredible -- our incredible fiber network and fiber product to these customers and in these towns in a cost-effective way, which we're excited about.

    當我們特別關注這個機會時,我們會專注於整體投資回報,我們會專注於成本,考慮到我們的足跡,這是我們繼續建造工廠並提供令人難以置信的機會 - - 我們以經濟高效的方式為這些城鎮的客戶提供令人難以置信的光纖網路和光纖產品,對此我們感到很興奮。

  • We'll be launching broadband and mobile and the full product portfolio.

    我們將推出寬頻和移動以及完整的產品組合。

  • We have teams and go-to-market strategies ready and the teams are actively working to prepare us for launch later in the quarter.

    我們已準備好團隊和上市策略,團隊正在積極努力為我們在本季稍後推出做好準備。

  • We're continuing to see overbuild activities and build activities throughout the footprint, and we know that the competitive intensity is only going to continue to increase and that's why we have to control what we can control.

    我們在整個足跡中繼續看到過度建設活動和建設活動,我們知道競爭強度只會繼續增加,這就是為什麼我們必須控制我們能控制的事情。

  • We are looking at how we want to deploy capital in the most cost -- in the most effective way to provide the most meaningful return on investment.

    我們正在研究如何以最低的成本——最有效的方式——提供最有意義的投資回報來部署資本。

  • When we look at our opportunity, we're continuing to focus on newbuild, particularly within our footprint, we're on pace to deliver 175,000 passings.

    當我們尋找機會時,我們將繼續關注新建項目,特別是在我們的足跡範圍內,我們的交付量將達到 175,000 次。

  • A lot of that is going to come in the west.

    其中很多將來自西方。

  • When we look at -- we're privileged to be in some of the fastest-growing towns in the West.

    當我們看到時,我們很榮幸能夠進入西部發展最快的一些城鎮。

  • And so, we're laser-focused on driving our newbuild strategy and making sure that we're doing that effectively and monetizing it more effectively as well.

    因此,我們專注於推動我們的新建策略,並確保我們有效地做到這一點,並更有效地將其貨幣化。

  • We've stood up a team to really ensure that, that end-to-end process is working seamlessly.

    我們已經成立了一個團隊來真正確保端到端流程無縫運作。

  • Marc, you want to talk about advertising?

    馬克,你想談談廣告嗎?

  • Marc Sirota - Chief Financial Officer

    Marc Sirota - Chief Financial Officer

  • Yeah, Jessica, for the quarter, certainly, as we talked about, we were hampered by one-time items from the prior year that really do not recur.

    是的,傑西卡,對於本季來說,正如我們所討論的,我們確實受到了上一年的一次性項目的阻礙,這些項目實際上不會重複出現。

  • Excluding those one-time items, we're actually growing just over 2% in the segment.

    排除那些一次性項目,我們在這一領域的成長實際上剛好超過 2%。

  • And we do feel bullish.

    我們確實感到樂觀。

  • We see our national sales teams really operating at a high level.

    我們看到我們的國家銷售團隊確實在高水準上運作。

  • We have seen some pressure in our local sales teams and I think that's really tied to the interest rate environment that we still find ourselves in.

    我們在當地銷售團隊中看到了一些壓力,我認為這確實與我們仍然所處的利率環境有關。

  • But from a political perspective, based on what we see coming in and the orders that have been placed today, we feel bullish about the strength of political this season, and gives us confidence on a full year basis that the news and advertising group will be growing over double-digit this full year.

    但從政治角度來看,根據我們看到的情況和今天下的訂單,我們對本季政治的力量感到樂觀,並讓我們對全年的新聞和廣告集團充滿信心今年全年增長超過兩位數。

  • Operator

    Operator

  • MaryAnne Zhao, Morgan Stanley.

    瑪麗安趙,摩根士丹利。

  • MaryAnne Zhao - Analyst

    MaryAnne Zhao - Analyst

  • (technical difficulty) Okay.

    (技術難度)好的。

  • Sorry about the technical difficulties and thanks for taking the question.

    對於技術上的困難深表歉意,感謝您提出問題。

  • Just on the competitive landscape, can you please update us perhaps on what you're seeing on the pace of incremental fiber builds in both your eastern and western footprints?

    就競爭格局而言,您能否向我們介紹一下您在東部和西部足跡中增量光纖建設步伐的最新情況?

  • And then on fixed wireless, any difference in the competitive impact between your two footprints?

    那麼在固定無線領域,你們的兩個足跡之間的競爭影響有什麼不同嗎?

  • Thank you.

    謝謝。

  • Dennis Mathew - Chairman of the Board, Chief Executive Officer

    Dennis Mathew - Chairman of the Board, Chief Executive Officer

  • Thanks, MaryAnne.

    謝謝,瑪麗安妮。

  • We continue to see in the east a little under 70% overbuilt by our fiber competitors, Verizon being the bulk of that and Frontier being a small portion of that as well.

    我們繼續看到東部地區有不到 70% 的光纖被我們的競爭對手過度建設,其中 Verizon 佔了大部分,Frontier 也只佔了一小部分。

  • When we look at the west, we have seen an uptick over the last six months.

    當我們觀察西方時,我們看到過去六個月的成長。

  • We're now revising our approach, leveraging the BDC data, which has been very helpful.

    我們現在正在修改我們的方法,利用 BDC 數據,這非常有幫助。

  • And so, we do see about a 40% overbuilt by fiber -- by fiber overbuilders, AT&T and others.

    因此,我們確實看到大約 40% 的光纖過度建設——由光纖過度建設者、AT&T 和其他公司造成。

  • We think about a third of that is AT&T and two-thirds of that are other fiber overbuilders.

    我們認為其中三分之一是 AT&T,三分之二是其他光纖過度建設者。

  • That grew about -- by about 5 percentage points in the last six months.

    在過去六個月中,這一數字增加了約 5 個百分點。

  • And so, we know that, that is going to continue to grow, continue to increase.

    因此,我們知道,這將繼續增長,並繼續增加。

  • And so, we need to have the best quality, the best value, the best products, so that we can compete most effectively town by town.

    因此,我們需要擁有最好的品質、最好的價值、最好的產品,這樣我們才能最有效地在各個城鎮競爭。

  • Fixed wireless, we continue to see across the footprint, availability varies again based on their network availability and capacity.

    對於固定無線,我們繼續看到,在整個覆蓋範圍內,可用性再次根據其網路可用性和容量而變化。

  • We see Teemo primarily in the east, as we think about the primary fiber competitor there.

    我們認為提摩主要在東部,因為我們考慮的是那裡的主要纖維競爭對手。

  • We are starting to see pockets of AT&T.

    我們開始看到 AT&T 的身影。

  • We're not seeing as much Verizon, given their presence with fiber.

    考慮到 Verizon 的光纖業務,我們並沒有看到那麼多。

  • And then in the west, depending on the town, depending on where we are in the country, we see pockets of Teemo, AT&T and Verizon.

    然後在西部,根據不同的城鎮,根據我們在這個國家的位置,我們可以看到一些 Teemo、AT&T 和 Verizon。

  • Operator

    Operator

  • Thank you.

    謝謝。

  • We've reached end of our question-and-answer session.

    我們的問答環節已經結束。

  • I'd like to turn the floor back over to management for any further or closing comments.

    我想將發言權交還給管理階層,以徵求進一步的意見或結束意見。

  • Sarah Freedman - Investor Relations

    Sarah Freedman - Investor Relations

  • Thank you all for joining.

    感謝大家的加入。

  • Please reach out to Investor Relations if you have any follow-up questions.

    如果您有任何後續問題,請聯絡投資者關係部。

  • Operator

    Operator

  • Thank you.

    謝謝。

  • That does conclude today's teleconference webcast.

    今天的電話會議網路廣播到此結束。

  • You may disconnect your line at this time and have a wonderful day.

    此時您可以斷開線路並度過美好的一天。

  • We thank you for your participation today.

    我們感謝您今天的參與。