Dish/Echostar 1st Quarter Report

[Bruce]

The number of satellite tv subscribers continues to decrease at a linear rate.

View attachment 181456

It also looks like Boost Mobile is no longer the #4 mobile phone provider.

Charter/Spectrum 10.4 Million

Comcast now has 8.14 Million

Boost Mobile 7.2 Million

https://ir.charter.com/news-releases/news-release-details/charter-announces-first-quarter-2025-results

Comcast leans into wireless and 'convergence revenues'

Comcast CFO Jason Armstrong expanded on the op's greater focus on mobile, believing it will accelerate line growth in 2025. Led by a new five-year price lock, Comcast also has a 'sense of urgency' to improve broadband subs trends.

www.lightreading.com

 

[dishdude]

Things are really looking bleak for Dish, is there any positive news lately?

 

[navychop]

Employee paychecks are still clearing.

 

[dishdude]

Employee paychecks are still clearing.

Last week's did...

 

[Bruce]

Things are really looking bleak for Dish, is there any positive news lately?

Nope, missed a $326 Million interest payment-

The company, which generated $1.56 billion in EBITDA over the last twelve months, has chosen not to make a scheduled $326 million interest payment due today on its 10.75% senior spectrum secured notes due in 2029.

Then this-

According to InvestingPro data, EchoStar operates with a significant debt burden, with total debt standing at $30.07 billion..

The company, currently valued at $5.8 billion in market capitalization.

https://www.investing.com/news/sec-filings/echostar-delays-326-million-interest-payment-amid-fcc-review-93CH-4072688

https://www.investing.com/news/sec-filings/echostar-opts-not-to-pay-326-million-interest-amid-fcc-review-93CH-4072674

 

[Bruce]

And more-

"In our view, the initial FCC filings could be interpreted as a 'shot across the bows' of EchoStar who have struggled to build a sustainable wireless business, even with the better April KPIs they are a very long way from being profitable. We do believe there is a growing case (and arguably the FCC review could be a catalyst for this) to sell their wireless spectrum (c. 130Mhz) and possibly wireless subscribers to the existing 3 wireless carriers (something the ex-FCC chair Tom Wheeler recently suggested may be possible in an event we hosted). This may come with a big spectrum spend cost but could remove a significant long-term overhang (a deep pocketed investor buying the SATS wireless operations) for the wireless industry."

Bank: "FCC fires shot across the bows at EchoStar"

Earlier in May the FCC launched a review into EchoStar’s compliance with certain 5G wireless coverage obligations (as part of their efforts to build the fourt

www.advanced-television.com

 

[nelson61]

Sounds like Echostar said, why should we pay 326 million for something we may soon lose.
Non payment started a 30 day clock for default so look to the first of July to see if they pay or fold.

 

[telstar_1]

I presume charlie has counted the cards

 

[MikeD-C05]

I presume charlie has counted the cards

You got to know how to hold them.

Know when to fold them.

Know when to walk away and know when to run.

You never count your money when you're sittin' at the table.

There will be time enough for countin' when the dealings done.

 

[Bruce]

A little more info on the current situation-

EchoStar could threaten bankruptcy over FCC inquiry

EchoStar said it won't make an interest payment because of the 'uncertainty' sparked by an FCC investigation. The situation could increase pressure against FCC Chairman Brendan Carr.

www.lightreading.com

 

[navychop]

Last sentence in that article is telling.

 

[telstar_1]

Well, if he's already going down the road of nonpay...

 

[Bruce]

Well, if he's already going down the road of nonpay...

Might be time to preserve the cash, specially considering not one profitable year the last 3 years.

• EchoStar net income for the twelve months ending March 31, 2025 was $-0.215B, a 89.59% decline year-over-year.
• EchoStar annual net income for 2024 was $-0.12B, a 92.98% decline from 2023.
• EchoStar annual net income for 2023 was $-1.702B, a 168.69% decline from 2022.

This latest quarter was pretty awful-

• EchoStar net income for the quarter ending March 31, 2025 was $-0.203B, a 88.75% increase year-over-year.

And I know Dish TV is still profitable, but that does not help when the rest of the company is losing so much more.

EchoStar Net Income 2010-2025 | SATS

EchoStar annual/quarterly net income history and growth rate from 2010 to 2025. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. <ul style='margin-top:10px;'> <li>EchoStar net income for the quarter...

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