TIME WARNER CABLE INC. (TWC) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

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Exhibit 99.1

TIME WARNER CABLE REPORTS

2014 FOURTH-QUARTER AND FULL-YEAR RESULTS

Best Fourth-Quarter Subscriber Performance in at Least Seven Years

67,000 Customer Relationship Net Additions in Q4;

447,000 PSU Net Additions, Driven by Record Q4 Triple Plays

$4.1 Billion 2014 CapEx, Reflecting Greater Investment in TWC Maxx,

Improved Customer Experience and Network Expansion

***

NEW YORK, January 29, 2015 – Time Warner Cable Inc. (NYSE: TWC) today reported financial results for its fourth quarter and full year ended December 31, 2014.

Time Warner Cable Chairman and CEO Rob Marcus said: “Our fourth quarter marked a strong finish to a really positive year for Time Warner Cable. As a result of record Q4 subscriber net adds and the investments we made all year in our plant, products and customer care, we enter 2015 with tremendous operating momentum.”

Marcus added, “We continue to expect the Comcast merger to close soon; until then, we remain one hundred percent committed to executing our plan.”

SELECTED CONSOLIDATED FINANCIAL RESULTS

 

 

 

                                                                                                                       

(in millions, except per share data;

unaudited)

   4th Quarter      Full Year  
          Change             Change  
     2014      2013      $      %      2014      2013      $      %  

Revenue

   $ 5,790       $ 5,577       $ 213         3.8%       $ 22,812       $ 22,120       $ 692         3.1%   

Adjusted OIBDA(a)

   $ 2,140       $ 2,026       $ 114         5.6%       $ 8,228       $ 7,980       $ 248         3.1%   

Operating Income(b)

   $ 1,226       $ 1,173       $ 53         4.5%       $ 4,632       $ 4,580       $ 52         1.1%   

Diluted EPS(c)

   $ 1.95       $ 1.89       $ 0.06         3.2%       $ 7.17       $ 6.70       $ 0.47         7.0%   

Adjusted Diluted EPS(a)

   $ 2.03       $ 1.82       $ 0.21         11.5%       $ 7.56       $ 6.61       $ 0.95         14.4%   

Cash provided by operating activities(b)

   $ 1,810       $ 1,599       $ 211         13.2%       $ 6,350       $ 5,753       $ 597         10.4%   

Capital expenditures

   $ 918       $ 827       $ 91         11.0%       $ 4,097       $ 3,198       $ 899         28.1%   

Free Cash Flow(a)(b)

   $ 891       $ 773       $ 118         15.3%       $ 2,347       $ 2,606       $ (259)         (9.9%)   

 

 

(a)  Refer to Note 4 to the accompanying consolidated financial statements for definitions of Adjusted OIBDA, Adjusted Diluted EPS and Free Cash Flow and below for reconciliations.
(b)  Operating Income is reduced by merger-related and restructuring costs of $38 million for each of the fourth quarters of 2014 and 2013 and $225 million and $119 million for the year ended December 31, 2014 and 2013, respectively. Cash provided by operating activities and Free Cash Flow are reduced by merger-related and restructuring payments of $19 million and $20 million for the fourth quarter of 2014 and 2013, respectively, and $128 million and $111 million for the year ended December 31, 2014 and 2013, respectively.
(c)  Diluted EPS represents net income per diluted common share attributable to TWC common shareholders.


The following information was filed by TIME WARNER CABLE INC. on Thursday, January 29, 2015 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K statement of earnings and operation as management may choose to highlight particular information in the press release.
  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0001193125-15-048927
  • Submitted to the SEC: Friday, February 13, 2015
  • Accepted by the SEC: Friday, February 13, 2015
  • Period Ending: December 2014
Companies
 

TWC

TIME WARNER CABLE INC.

$155.26 +6.50 (+4.37%)

Day's Range:
$151.00 to $157.82

52-Week Range:
$128.78 to $161.14

Volume:
19,731,847

Volume (Avg):
3,088,180

Earnings per Share:
$7.17

PEG / Short / PE Ratios:
1.86 / 2.50 / 21.65

Market Cap:
$43.61B

Book Value:
28.54

EBITDA:
$7.91B