TIME WARNER CABLE INC. (TWC) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

View amendments to this 10-K report filed on 4/28/2016
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Exhibit 99.1

 

TIME WARNER CABLE REPORTS

2015 THIRD-QUARTER RESULTS

Record Q3 Subscriber Performance, Including

Best Ever Q3 Customer Relationship Net Additions

Aggressive Operating and Capital Investments Continued to

Drive Dramatic Improvements in Customer Service and Operating Performance

Accelerating Revenue Growth of 3.6%

***

NEW YORK, October 29, 2015 – Time Warner Cable Inc. (NYSE: TWC) today reported financial results for its third quarter ended September 30, 2015.

Time Warner Cable Chairman and CEO Rob Marcus said: “I’m very excited about the operating momentum reflected in our third-quarter results. Subscriber growth was the strongest in years; revenue growth accelerated; and we continued to make significant investments in our network, equipment, products and customer service. Our ongoing transformation is a testament to the strength of our operating plan and the commitment of our entire team – all 55,000 employees – who work tirelessly every day to make Time Warner Cable an even better company.”

SELECTED CONSOLIDATED FINANCIAL RESULTS

 

 

 

                                                                                                                       
(in millions, except per share data;    3rd Quarter      Year-to-Date 9/30  
unaudited)           Change                    Change  
     2015      2014      $      %      2015      2014      $      %  

Revenue

   $ 5,922       $ 5,714       $ 208         3.6%       $ 17,625       $ 17,022       $ 603         3.5%   

Adjusted OIBDA(a)

   $ 1,980       $ 2,054       $ (74)         (3.6%)       $ 6,006       $ 6,088       $ (82)         (1.3%)   

Operating Income(b)

   $ 1,001       $ 1,151       $ (150)         (13.0%)       $ 3,114       $ 3,406       $ (292)         (8.6%)   

Diluted EPS(c)

   $ 1.53       $ 1.76       $ (0.23)         (13.1%)       $ 4.74       $ 5.22       $ (0.48)         (9.2%)   

Adjusted Diluted EPS(a)

   $ 1.62       $ 1.86       $ (0.24)         (12.9%)       $ 4.81       $ 5.53       $ (0.72)         (13.0%)   

Cash provided by operating activities(b)

   $ 1,500       $ 1,448       $ 52         3.6%       $ 4,706       $ 4,540       $ 166         3.7%   

Capital expenditures

   $ 1,103       $ 1,105       $ (2)         (0.2%)       $ 3,500       $ 3,179       $ 321         10.1%   

Free Cash Flow(a)(b)

   $ 441       $ 368       $ 73         19.8%       $ 1,288       $ 1,456       $ (168)         (11.5%)   

 

 

(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 $44 million and $46 million for the third quarters of 2015 and 2014, respectively, and $152 million and $187 million for the nine months ended September 30, 2015 and 2014, respectively. Cash provided by operating activities and Free Cash Flow are reduced by merger-related and restructuring payments of $24 million and $22 million for the third quarters of 2015 and 2014, respectively, and $155 million and $109 million for the nine months ended September 30, 2015 and 2014, 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, October 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 Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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  • Form Type: Annual
  • Number of times amended: 1
  • Accession Number: 0001193125-16-461316
  • Submitted to the SEC: Friday, February 12, 2016
  • Accepted by the SEC: Friday, February 12, 2016
  • Period Ending: December 2015
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