WASHINGTON (dpa-AFX) - Charter Communications (CHTR) reported a pro forma net loss attributable to shareholders of $2.1 billion in the third quarter of 2026 compared to net income of $1.0 billion in the third quarter of 2025. On an actual basis, net loss attributable to shareholders was $2.4 billion in the third quarter compared to net income of $1.1 billion, last year. Actual net loss per basic common share was $20.50 compared to income of $8.50, prior year. The company noted that the loss was primarily driven by a $6.3 billion franchise impairment charge. Pro forma adjusted EBITDA was $6.6 billion, down 4.0% year-over-year. Excluding transition expenses, pro forma adjusted EBITDA declined 3.0%. On an actual basis, adjusted EBITDA was $5.9 billion, up 6.9% year-over-year.
On a pro forma basis, third quarter revenue decreased by 1.5% year-over-year to $16.5 billion. Excluding items, total revenue declined by 1.0% on a pro forma basis. On an actual basis, revenue increased by 9.1% to $14.9 billion, driven by the Cox Transactions.
Charter Communications announced a new operating model designed to return the company to growth. The new operating model is focused on accelerating new customer connects as well as improving retention and customer satisfaction with improved execution of service delivery. Also, the company is targeting $2 billion in annualized run-rate operating expense savings over the next 18 months, in addition to more than $1 billion in anticipated Cox Transactions synergies. The savings program will focus on eliminating nonessential activities, and simplifying organizational structures.
In pre-market trading on NasdaqGS, Charter Communications shares are down 5.83 percent to $118.52.
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