Charter Communications, Inc. (CHTR)

Sector: Communication Services|Industry: Telecom Services|Market Cap: $57.07B|Employees: 101.1K


Charter Communications is a leading broadband connectivity company and cable operator, offering residential and business services including internet, TV, mobile, and voice. They operate an advanced communications network across 41 states, focusing on network evolution, footprint expansion, and high-quality operations. Charter's competitive advantages include its scale efficiencies, network quality, and construction capabilities.

  1. Filings
  2. Company Profile

Business Summary

Charter Communications, Inc. is a leading broadband connectivity company and cable operator, serving over 32 million customers across 41 states through its Spectrum brand. The company offers a range of residential and business services, including Spectrum Internet, TV, Mobile, and Voice. For businesses, it provides tailored solutions through Spectrum Business and Spectrum Enterprise. Spectrum Reach delivers advertising solutions, and Spectrum Networks distributes news and sports programming. The company's strategy focuses on network evolution, product expansion, and high-quality operations to maintain a state-of-the-art network and deliver compelling services at attractive prices.

Key Statistics

  • Employees: 101,100 (as of December 31, 2023)
  • Geographic Footprint: 41 states
  • Headquarters: Stamford, Connecticut
  • Founded: N/A
  • Number of locations/facilities: N/A
  • Revenue: $54.6 billion (FY2023)
  • Market Capitalization: $36.9 billion (as of June 30, 2023)
  • Key Subsidiaries/Brands: Spectrum, Spectrum Business, Spectrum Enterprise, Spectrum Reach, Spectrum Networks

Leadership

  • CEO: Christopher L. Winfrey
  • CFO: Jessica M. Fischer
  • Executive Vice President, Chief Accounting Officer and Controller: Kevin D. Howard
  • Non-Executive Chairman of the Board: Eric L. Zinterhofer

Key executives oversee operations, sales, marketing, and technology. The leadership team is focused on delivering high-quality products and services and improving the customer experience.

Key Financial Metrics

  • Annual Revenue: $54.6 billion (FY2023)
  • Net Income: $4.6 billion (FY2023)
  • Market Cap: $36.9 billion (as of June 30, 2023)
  • Total Assets: $147.2 billion (as of December 31, 2023)
  • Employees: 101,100 (as of December 31, 2023)
  • Key Financial Highlights: Revenue increased by 1.1% year-over-year. Net income decreased from $5.1 billion in 2022 to $4.6 billion in 2023.

Products and Services

Charter offers a variety of services across residential and commercial segments:

  • Spectrum Internet: Provides high-speed internet services with speeds up to 1 Gbps, including in-home WiFi and security features.
  • Spectrum TV: Offers a range of video programming packages with access to various channels, on-demand content, and DVR services.
  • Spectrum Mobile: Provides mobile services with unlimited calls, text, and data, leveraging both its own network and Verizon's cellular network.
  • Spectrum Voice: Offers wireline voice communication services using VoIP technology, including unlimited local and long-distance calling.
  • Spectrum Business: Provides internet, voice, and video services to small and medium-sized businesses, including features like static IP and business WiFi.
  • Spectrum Enterprise: Offers tailored communication products and managed service solutions to larger businesses and government entities.
  • Spectrum Reach: Provides local, regional, and national advertising opportunities across various platforms.

Key Business Segments

Charter's business is primarily divided into the following segments:

  • Residential: Provides internet, video, voice and mobile services to residential customers.
  • Small and Medium Business (SMB): Offers internet, voice and video services to small and medium-sized businesses.
  • Enterprise: Provides tailored communication products and managed service solutions to larger businesses and government entities.
  • Advertising Sales: Offers local, regional and national advertising opportunities.

Business Strategy

Charter's business strategy is focused on expanding its network capabilities, extending its footprint, and improving customer service. Key strategic initiatives include:

  • Network Evolution: Upgrading its hybrid fiber coaxial network to deliver multi-gig speeds and enable fiber on demand.
  • Rural Expansion: Investing over $8 billion in subsidized rural construction to expand services to unserved areas.
  • Product Innovation: Developing and deploying new products and technologies, such as Xumo Stream Boxes and Advanced WiFi.
  • Customer Experience: Improving service quality through digitization, proactive maintenance, and enhanced interactions.
  • Mobile Integration: Integrating mobile and fixed internet products to offer converged connectivity solutions.

Industry Context

Charter operates in the highly competitive telecommunications industry. Key aspects of the competitive landscape include:

  • Market Position: A leading broadband connectivity company and cable operator.
  • Key Competitors: Competes with FTTH providers like AT&T, Frontier, and Verizon, as well as fixed wireless, satellite, and DSL providers. Also faces competition from virtual MVPDs and programmer DTC applications.
  • Industry Trends: Increasing demand for high-speed internet, growing competition from various providers, and evolving video consumption habits.

Risk Factors

  • Competitive Risks: Intense competition from various providers, including FTTH, fixed wireless, and mobile operators, which could impact customer acquisition and retention.
  • Technological Risks: Failure to adapt to new technologies and meet customer demand for new products and services could affect competitiveness.
  • Operational Risks: Dependence on third-party service providers, suppliers, and licensors, and potential disruptions to networks and information systems.
  • Financial Risks: Significant debt levels and the inability to pass on increases in programming costs to customers could adversely affect financial condition.
  • Regulatory Risks: Extensive governmental regulation and potential changes in laws and regulations could impact business operations.

Last Updated

2024-02-02

(Generated from latest 10-K filing)