STAMFORD, Conn., Oct. 31, 2025 /PRNewswire/ — Constitution Communications, Inc. (along side its subsidiaries, the “Company” or “Charter”), which operates the Spectrum emblem, as of late reported monetary and running effects for the 3 and 9 months ended September 30, 2025.

• 3rd quarter overall Web shoppers declined by means of 109,000. As of September 30, 2025, Constitution served 29.8 million Web shoppers.
• 3rd quarter overall cellular traces larger by means of 493,000. As of September 30, 2025, Constitution served 11.4 million cellular traces.
• As of September 30, 2025, buyer relationships totaled 31.1 million, except for mobile-only relationships.
• 3rd quarter earnings of $13.7 billion declined by means of 0.9% year-over-year, pushed by means of decrease residential video and promoting gross sales revenues. Residential connectivity earnings grew 3.8% year-over-year.
• Internet source of revenue as a result of Constitution shareholders totaled $1.1 billion within the 3rd quarter.
• 3rd quarter Adjusted EBITDA¹ of $5.6 billion declined by means of 1.5% year-over-year.
• 3rd quarter capital expenditures totaled $3.1 billion and integrated $1.0 billion of series extensions.
• 3rd quarter internet coins flows from running actions totaled $4.5 billion, in comparison to $3.9 billion within the prior 12 months.
• 3rd quarter sovereign coins wave¹ of $1.6 billion was once in keeping with the prior 12 months length as decrease coins taxes and a extra favorable running capital get advantages year-over-year had been offset by means of upper capital expenditures.
• All through the 3rd quarter, Constitution bought 7.6 million stocks of Constitution Elegance A habitual retain and Constitution Communications Holdings, LLC (“Charter Holdings”) habitual devices totaling $2.2 billion.

“We are operating well in a competitive environment, where consumer products and applications haven’t yet caught up with our uniquely differentiated network capabilities,” stated Chris Winfrey, President and CEO of Constitution. “In the meantime, our service delivery improvements are being recognized, and we are saving customers hundreds and often thousands of dollars per year with our products. And our focus is on free cash flow growth for shareholder value creation.”

Key Working Effects

3rd quarter overall Web shoppers reduced by means of 109,000, in comparison to a abatement of 110,000 throughout the 3rd quarter of 2024, which integrated the affect of disconnects matching to the tip of the FCC’s Reasonably priced Connectivity Program within the 3rd quarter of 2024. Spectrum Web^® delivers the quickest Web speeds¹ within the people. Spectrum is evolving its connectivity community to do business in linear and multi-gigabit Web speeds throughout its whole footprint and has introduced linear Web provider in numerous markets. In contrast to competition, Spectrum upgrades its community to provide all of its passings and will accomplish that at a far lower price. Spectrum Complex WiFi supplies shoppers an optimized house community year offering better keep watch over of hooked up gadgets with enhanced safety and privateness. Spectrum expects to finish its community evolution initiative in 2027.

All through the 3rd quarter of 2025, Constitution added 493,000 overall cellular traces, in comparison to expansion of 545,000 throughout the 3rd quarter of 2024. Spectrum Cellular™ is to be had to all brandnew and current Spectrum Web shoppers and trade in the quickest general speeds,² with plans that come with 5G get entry to, don’t require assurances and come with taxes and charges in the cost. Spectrum Cellular is central to Constitution’s converged community approach to handover shoppers a differentiated connectivity enjoy with extremely aggressive, easy knowledge plans and pricing.

General video shoppers reduced by means of 70,000 within the 3rd quarter of 2025, in comparison to a abatement of 294,000 within the 3rd quarter of 2024, with the development pushed by means of brandnew and simplified pricing and packaging introduced in September 2024 and advantages from the inclusion of programmers’ streaming packages in Spectrum’s expanded modest programs. As of September 30, 2025, Constitution had 12.6 million overall video shoppers.

Spectrum TV Make a choice video shoppers now obtain as much as roughly $116 consistent with while (quickly to be roughly $128 consistent with while) of programmers’ streaming software retail worth at refuse difference price, together with the ad-supported variations of Disney+, Hulu, ESPN Limitless, HBO Max, Paramount+, Peacock, AMC+, ViX, Tennis Channel and Fox One, with Discovery+ and BET+ launching quickly. This programmer streaming software inclusion is a part of Constitution’s broader video evolution approach to handover versatile programs with enhanced worth, whether or not via complete programs with seamless leisure, smaller video programs or a collection of a-la-carte programmers’ streaming software choices for broadband shoppers. In October 2025, Spectrum unveiled the Spectrum App Bind, an leading edge virtual market the place Spectrum TV shoppers can turn on, top and improve the streaming apps integrated with their video plans. The Spectrum App Bind additionally lets in Spectrum shoppers with no conventional TV bundle to buy and top streaming apps à l. a. carte.

All through the 3rd quarter of 2025, overall wireline expression shoppers declined by means of 200,000, in comparison to a abatement of 288,000 within the 3rd quarter of 2024. As of September 30, 2025, Constitution had 6.2 million overall wireline expression shoppers.

Constitution continues to paintings with federal, atmosphere and native governments in order Spectrum Web to unserved and underserved communities. All through the 3rd quarter of 2025, Constitution activated 124,000 sponsored rural passings. Inside of Constitution’s sponsored rural footprint, overall buyer relationships larger by means of 52,000 within the 3rd quarter of 2025.

3rd Quarter Monetary Effects
(in tens of millions)

Revenues

3rd quarter earnings reduced by means of 0.9% year-over-year to $13.7 billion, pushed by means of decrease residential video and promoting gross sales revenues, in part offset by means of upper residential cellular provider and Web revenues.

Residential earnings totaled $10.6 billion within the 3rd quarter, a scale down of one.1% year-over-year, pushed by means of a year-over-year abatement in residential shoppers of two.1%, in part offset by means of a year-over-year building up in per 30 days residential earnings consistent with residential buyer of one.0%.

3rd quarter 2025 per 30 days residential earnings consistent with residential buyer totaled $122.63, an building up of one.0% in comparison to the prior 12 months length. The expansion was once pushed by means of promotional fee step-ups, fee changes and the expansion of Spectrum Cellular, in part offset by means of a decrease mixture of video buyer relationships, the next mixture of decrease priced video programs inside of Constitution’s video buyer bottom and $106 million of prices allotted to programmer streaming packages and netted inside of video earnings as opposed to $25 million within the prior 12 months length.

Web earnings grew by means of 1.7% year-over-year to $6.0 billion, pushed by means of promotional fee step-ups, fee changes and a good exchange in bundled earnings allocation year-over-year, in part offset by means of a abatement in Web shoppers year-over-year.

3rd quarter cellular provider earnings totaled $954 million, an building up of nineteen.2% year-over-year, pushed by means of cellular series expansion, in part offset by means of much less favorable bundled earnings allocation year-over-year.

Video earnings totaled $3.4 billion within the 3rd quarter, a scale down of 9.3% in comparison to the prior 12 months length, pushed by means of a abatement in video shoppers throughout the utmost 12 months, the next mixture of decrease priced video programs inside of Constitution’s video buyer bottom, $106 million of prices allotted to programmer streaming packages and netted inside of video earnings and extra negative bundled earnings allocation year-over-year, in part offset by means of promotional fee step-ups and video fee changes that go via programmer fee will increase.

Tone earnings reduced by means of 7.9% year-over-year to $332 million, pushed by means of a abatement in wireline expression shoppers, in part offset by means of expression fee changes.

Business earnings larger by means of 0.9% year-over-year to $1.8 billion, pushed by means of mid-market and massive trade earnings expansion of three.6% year-over-year, in part offset by means of a abatement in petite trade earnings of 0.9%. Mid-market and massive trade earnings except for wholesale larger by means of 4.0% year-over-year, most commonly reflecting PSU expansion. The year-over-year scale down in 3rd quarter 2025 petite trade earnings was once pushed by means of a abatement in petite trade buyer relationships year-over-year.

3rd quarter promoting gross sales earnings of $356 million reduced by means of 21.3% in comparison to the year-ago quarter, essentially pushed by means of decrease political earnings. Except political earnings in each classes, promoting gross sales earnings reduced by means of 0.5% year-over-year because of a extra challenged native and nationwide promoting marketplace, most commonly offset by means of upper complicated promoting earnings.

Alternative earnings totaled $836 million within the 3rd quarter, an building up of 10.7% in comparison to the 3rd quarter of 2024, essentially pushed by means of upper cellular instrument gross sales.

Working Prices and Bills

3rd quarter programming prices reduced by means of $152 million, or 6.5% as in comparison to the 3rd quarter of 2024, reflecting fewer video shoppers, the next mixture of lower price programs inside of Constitution’s video buyer bottom and $106 million of prices allotted to programmer streaming packages and netted inside of video earnings as opposed to $25 million within the prior 12 months length, in part offset by means of contractual programming fee will increase and renewals.

Alternative prices of earnings larger by means of $73 million, or 4.6% year-over-year, essentially pushed by means of upper cellular provider direct prices and cellular instrument gross sales, in part offset by means of decrease franchise and regulatory charges and decrease promoting gross sales prices given decrease political earnings.

Ground and era operations bills larger by means of $3 million, or 0.3% year-over-year, essentially pushed by means of upper community importance prices, offset by means of decrease exertions expense.

Buyer operations bills reduced by means of $19 million, or 2.4% year-over-year, essentially because of a scale down in wicked debt expense.

Advertising and home gross sales bills larger by means of $50 million, or 5.4% year-over-year, because of a metamorphosis in gross sales combine to raised price gross sales channels.

Alternative bills larger by means of $8 million, or 0.7% as in comparison to the 3rd quarter of 2024.

Internet Source of revenue As a consequence of Constitution Shareholders

Internet source of revenue as a result of Constitution shareholders totaled $1.1 billion within the 3rd quarter of 2025, in comparison to $1.3 billion within the 3rd quarter of 2024, because of decrease Adjusted EBITDA, upper alternative running expense essentially because of merger and acquisition prices matching to the prior to now introduced Cox transaction and severance prices.

Internet source of revenue consistent with modest habitual proportion as a result of Constitution shareholders totaled $8.50 within the 3rd quarter of 2025 in comparison to $8.99 throughout the similar length utmost 12 months. The scale down was once essentially the results of the standards described above, in part offset by means of a 6.0% scale down in modest weighted reasonable habitual stocks exceptional as opposed to the prior 12 months length.

Adjusted EBITDA

3rd quarter Adjusted EBITDA of $5.6 billion declined by means of 1.5% year-over-year, reflecting a abatement in earnings of 0.9% and a scale down in running bills of 0.5%.

Capital Expenditures

Capital expenditures totaled $3.1 billion within the 3rd quarter of 2025, an building up of $488 million in comparison to the 3rd quarter of 2024, pushed by means of upper CPE, improve/rebuild (essentially community evolution) and scalable infrastructure spend.

Constitution continues to be expecting complete 12 months 2025 capital expenditures to overall roughly $11.5 billion. The untouched quantity of capital expenditures in 2025 depends upon quite a few elements together with, however no longer restricted to, the generation of Constitution’s community evolution and growth projects, provide chain timing and expansion charges in Constitution’s residential and industrial companies.

Money Current and Sovereign Money Current

All through the 3rd quarter of 2025, internet coins flows from running actions totaled $4.5 billion, an building up from $3.9 billion within the prior 12 months. The year-over-year building up was once essentially because of decrease coins taxes and a good running capital get advantages year-over-year.

Sovereign coins wave within the 3rd quarter of 2025 totaled $1.6 billion, an building up of $2 million in comparison to the 3rd quarter of 2024. The year-over-year building up in sovereign coins wave was once essentially pushed by means of upper internet coins flows from running actions, most commonly offset by means of upper capital expenditures.

Liquidity & Financing

As of September 30, 2025, overall fundamental quantity of debt was once $95.0 billion and Constitution’s credit score amenities equipped roughly $4.0 billion of backup liquidity in plethora of Constitution’s $464 million coins place.

In September 2025, Constitution Communications Working, LLC (“Charter Operating”) and Constitution Communications Working Capital Corp. collectively issued $1.25 billion of five.850% senior attach notes due December 2035 at a value of 99.932% of the mixture fundamental quantity and $750 million of 6.700% senior attach notes due December 2055 at a value of 99.832% of the mixture fundamental quantity. The web proceeds had been worn for normal company functions, together with to pay off positive indebtedness, together with Constitution Working’s 6.150% senior attach notes due 2026, to investmrent possible buybacks of Constitution Elegance A habitual retain and Constitution Holdings habitual devices, and to pay matching charges and bills.

Percentage Repurchases

All through the 3 months ended September 30, 2025, Constitution bought 7.6 million stocks of Constitution Elegance A habitual retain and Constitution Holdings habitual devices for $2.2 billion.

Webcast

Constitution will host a webcast on Friday, October 31, 2025 at 8:30 a.m. Japanese Week (ET) matching to the contents of this drop.

The webcast may also be accessed are living by way of the Corporate’s investor family members web site at ir.charter.com. Members must travel to the webcast hyperlink refuse next than 10 mins previous to the beginning year to sign up. The webcast shall be archived at ir.charter.com two hours later finishing touch of the webcast.

Spare Data To be had on Site

The tips on this press drop must be learn at the side of the monetary statements and footnotes contained within the Corporate’s Quarterly Record on Method 10-Q for the 3 and 9 months ended September 30, 2025, which shall be posted at the “Results & SEC Filings” category of the Corporate’s investor family members web site at ir.charter.com, when it’s filed with the Securities and Alternate Fee (the “SEC”). A slide presentation to accompany the convention name and a trending agenda containing historic buyer and monetary knowledge can also be to be had within the “Results & SEC Filings” category.

Usefulness of Adjusted EBITDA and Sovereign Money Current Data

The Corporate makes use of positive measures that aren’t outlined by means of U.S. typically accredited accounting rules (“GAAP”) to guage numerous facets of its trade. Adjusted EBITDA and sovereign coins wave are non-GAAP monetary measures and must be thought to be along with, no longer as an alternative choice to, internet source of revenue as a result of Constitution shareholders and internet coins flows from running actions reported based on GAAP. Those phrases, as outlined by means of Constitution, is probably not related to in a similar fashion titled measures worn by means of alternative corporations. Adjusted EBITDA and sovereign coins wave are reconciled to internet source of revenue as a result of Constitution shareholders and internet coins flows from running actions, respectively, within the Addendum to this drop.

Adjusted EBITDA is outlined as internet source of revenue as a result of Constitution shareholders plus internet source of revenue as a result of noncontrolling passion, internet passion expense, source of revenue taxes, depreciation and amortization, retain reimbursement expense, alternative source of revenue (bills), internet and alternative running (source of revenue) bills, internet, equivalent to particular fees, merger and acquisition prices and (acquire) loss on sale or depart of belongings. As such, it removes the numerous non-cash depreciation and amortization expense that effects from the capital-intensive nature of the Corporate’s companies in addition to alternative non-cash or particular pieces, and is unaffected by means of the Corporate’s capital construction or funding actions. Alternatively, this measure is proscribed in that it does no longer mirror the periodic prices of positive capitalized tangible and intangible belongings worn in producing revenues and the money price of financing. Those prices are evaluated via alternative monetary measures.     

Sovereign coins wave is outlined as internet coins flows from running actions, much less capital expenditures and adjustments in gathered bills matching to capital expenditures.   

Control and Constitution’s board of administrators importance Adjusted EBITDA and sovereign coins wave to evaluate Constitution’s efficiency and its talent to provider its debt, investmrent operations and put together backup investments with internally generated finances. As well as, Adjusted EBITDA typically correlates to the leverage ratio calculation underneath the Corporate’s credit score amenities or exceptional notes to decide compliance with the covenants contained within the amenities and notes (all such paperwork had been prior to now filed with the SEC). To bring about calculating compliance with leverage covenants, the Corporate makes use of Adjusted EBITDA, as introduced, except for positive bills paid by means of its running subsidiaries to alternative Constitution entities. The Corporate’s debt covenants please see those bills as control charges, which have been $350 million and $1.1 billion for the 3 and 9 months ended September 30, 2025, respectively, and $373 million and $1.1 billion for the 3 and 9 months ended September 30, 2024, respectively.

About Constitution

Constitution Communications, Inc. (NASDAQ:CHTR) is a prominent broadband connectivity corporate with products and services to be had to 58 million properties and petite to massive companies throughout 41 states via its Spectrum emblem. Based in 1993, Constitution has developed from offering cable TV to streaming, and from high-speed Web to a converged broadband, WiFi and cellular enjoy. Over the Spectrum Fiber Broadband Community and supported by means of our 100% U.S.-based workers, the Corporate trade in Seamless Connectivity and Leisure with Spectrum Web^®, Cellular, TV and Tone merchandise.

Extra details about Constitution may also be discovered at company.constitution.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This verbal exchange contains forward-looking statements inside the which means of Category 27A of the Securities Operate of 1933, as amended, and Category 21E of the Securities Alternate Operate of 1934, as amended, relating to, amongst alternative issues, our plans, methods and possibilities, each trade and monetary.  Even if we consider that our plans, intentions and expectancies as mirrored in or prompt by means of those forward-looking statements are affordable, we can not ensure you that we will be able to succeed in or understand those plans, intentions or expectancies.  Ahead-looking statements are inherently topic to dangers, uncertainties and suppositions together with, with out limitation, the standards described underneath “Risk Factors” from year to year in our filings with the SEC.  Most of the forward-looking statements contained on this verbal exchange is also known by means of the importance of forward-looking phrases equivalent to “believe,” “future,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” “aim,” “on track,” “target,” “opportunity,” “tentative,” “positioning,” “designed,” “create,” “predict,” “project,” “initiatives,” “seek,” “would,” “could,” “continue,” “ongoing,” “upside,” “increases,” “grow,” “focused on” and “potential,” amongst others.  Impressive elements that might purpose untouched effects to range materially from the forward-looking statements we put together on this verbal exchange are eager forth in our annual file on Method 10-Okay, and in alternative reviews or paperwork that we record from year to year with the SEC, and come with, however aren’t restricted to:

• our talent to maintain and develop revenues and coins wave from operations by means of providing Web, cellular, video, expression, promoting and alternative products and services to residential and industrial shoppers, to adequately meet the buyer enjoy calls for in our provider boxes and to conserve and develop our buyer bottom, specifically within the face of increasingly more competitive pageant, the desire for innovation and the matching capital expenditures;
• the affect of pageant from alternative marketplace members, together with however no longer restricted to incumbent phone corporations, direct broadcast satellite tv for pc (“DBS”) operators, wi-fi broadband and phone suppliers, virtual subscriber series (“DSL”) suppliers, fiber to the house suppliers and suppliers of video content material over broadband Web connections;
• normal trade situations, unemployment ranges and the extent of job within the housing sector and financial hesitancy or downturn;
• our talent to assemble and deploy brandnew merchandise and applied sciences together with client products and services and repair platforms;
• any occasions that disrupt our networks, data techniques or houses and impair our running actions or our popularity;
• the results of governmental law on our trade together with subsidies to customers, subsidies and incentives for competition, prices, disruptions and conceivable barriers on running flexibility matching to, and our talent to agree to, regulatory situations appropriate to us;
• our talent to acquire important products and services and kit from our distributors in a well timed means and at affordable prices together with in reference to our community evolution and rural development projects;
• our talent to procure programming at affordable costs or to lift costs to offset, in entire or partially, the results of upper programming prices (together with retransmission sees eye to eye and distribution necessities);
• the facility to rent and keep key body of workers;
• the supply and get entry to, on the whole, of finances to satisfy our debt duties previous to or after they turn out to be due and to investmrent our operations and important capital expenditures, both via (i) coins available, (ii) sovereign coins wave, or (iii) get entry to to the capital or credit score markets;
• our talent to agree to all covenants in our indentures and credit score amenities, any violation of which, if no longer cured in a well timed means, may cause a default of our alternative duties underneath cross-default provisions;
• our talent to fulfill the situations to consummate the Independence Broadband Mixture and/or the Cox Transactions and/or to consummate the Independence Broadband Mixture and/or the Cox Transactions in a well timed means or in any respect;
• the dangers matching to us being limited within the operation of our trade year the Independence Broadband Merger Commitment and the Cox Communications Transaction Commitment are in impact;
• alternative dangers matching to the Independence Broadband Mixture as described within the definitive joint proxy observation/prospectus with appreciate to the Independence Broadband Mixture, filed by means of Constitution on January 22, 2025, together with the divisions entitled “Risk Factors” and “Where You Can Find More Information” integrated therein; and
• alternative dangers matching to the Cox Transactions as described within the definitive proxy observation with appreciate to the Cox Transactions, filed by means of Constitution on July 2, 2025, together with the divisions entitled “Risk Factors” and “Where You Can Find More Information” integrated therein.

All forward-looking statements as a result of us or someone performing on our behalf are expressly certified of their entirety by means of this cautionary observation.  We’re underneath refuse responsibility or legal responsibility to replace any of the forward-looking statements later the generation of this verbal exchange.

SOURCE Constitution Communications, Inc.