Revenue and EBITDA Growth: Charter Communications reported a 1% year-over-year revenue growth for 2024, with adjusted EBITDA growth accelerating to 3.1%. This growth was primarily driven by strong performance in the Spectrum Mobile segment, which added over 2 million lines, and cost efficiency initiatives. The company's revenue and EBITDA are expected to improve further in 2025 with the elimination of the Affordable Connectivity Program (ACP) impact.
Impacts of Natural Disasters: The company experienced significant impacts from hurricanes (Helene and Milton) and wildfires, including over 20,000 additional disconnects, approximately $125 million in total incremental capital expenditures, and a $35 million reduction in adjusted EBITDA due to storm-related customer credits. These catastrophic events have heightened risks for future performance, particularly in affected regions.
Customer Metrics: Charter lost 177,000 Internet customers in Q4 2024, primarily driven by the end of the ACP program and related connectivity disruptions. However, they added 529,000 mobile lines, showing resilience in the wireless segment. Video customers also declined by 123,000, though there were indications of some traction from recent bundling initiatives that could stabilize this segment moving forward.