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DISH Network (DISH) Q1 Earnings Beat Estimates, Revenues Up Y/Y

DISH Network’s DISH first-quarter 2021 earnings of 99 cents per share beat the Zacks Consensus Estimate by 19.3% and were much higher than 13 cents reported in the year-ago quarter.

Revenues jumped 39.8% year over year to $4.50 billion but lagged the consensus mark by 0.4%.

Revenues from the United States surged 40.1% year over year to $4.49 billion. Revenues from Canada and Mexico fell 24.8% to $12 million.

Quarterly Details

Pay-TV revenues declined 0.4% year over year to $3.20 billion. DISH exited the reported quarter with 11.060 million Pay-TV subscribers, down 2.3% year over year. DISH TV subscribers declined 3.6% year over year to 8.686 million. Sling TV subscribers increased 2.7% year over year to 2.374 million.

Pay-TV ARPU increased 5.5% year over year to $93.63. Additionally, the DISH-TV churn rate was 1.30% compared with the year-ago quarter’s 1.54%.

DISH Network Corporation Price, Consensus and EPS Surprise

 

DISH Network Corporation price-consensus-eps-surprise-chart | DISH Network Corporation Quote

 

Wireless revenues were $1.29 billion compared with $1.1 million in the year-ago quarter. Wireless subscribers, at the end of the reported quarter, were 8.894 million.

Wireless ARPU was $38.89, while Wireless churn rate was 4.44% in the reported quarter.

In the first quarter, DISH TV subscriber-acquisition costs decreased 8.2% year over year to $790.

Moreover, total cost and expenses increased 18.2% year over year to $3.63 billion.

EBITDA surged 262.7% year over year to $1.04 billion.

Operating income was $864.6 million compared with $144.1 million in the year-ago quarter. Pay-TV operating income surged 42.7% year over year to $772.7 million. Wireless operating income was $91.8 million against loss of $397.6 million.

Balance Sheet

As of Mar 31, 2021, DISH Network had cash, cash equivalents and current marketable investment securities of $4.57 billion compared with $3.73 billion as of Dec 31, 2020.

Total debt, as of Mar 31, 2021, was $16.56 billion compared with $15.70 billion as of Dec 31, 2020.

Zacks Rank & Other Stocks to Consider

DISH currently has a Zacks Rank #2 (Buy).

Better-ranked stocks in the broader consumer discretionary sector are Fox FOXA, Sonos SONO and The E.W. Scripps Company SSP. All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rankstocks here.

Fox, The E.W. Scripps and Sonos are scheduled to report quarterly earnings on May 5, 7 and 12, respectively.

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DISH Network Corporation (DISH): Free Stock Analysis Report
 
Sonos, Inc. (SONO): Free Stock Analysis Report
 
E.W. Scripps Company The (SSP): Free Stock Analysis Report
 
Fox Corporation (FOXA): Free Stock Analysis Report
 
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