Cable One, Inc. 8-K

What Happened Cable One, Inc. (CABO) filed a Form 8‑K (Regulation FD disclosure) on July 9, 2026 furnishing preliminary estimated results for the quarter ended June 30, 2026 and providing an update on its previously announced MBI Term Loan Exchange Offer. The company expects Q2 revenues of $346.0M–$352.0M, capital expenditures of $72.0M–$76.0M, and says Adjusted EBITDA will be lower versus Q1 2026 by an amount generally consistent with the prior quarter-to-quarter change. It also reported expected net residential data subscriber losses of ~16,000–18,000 and residential data ARPU of $80.00–$81.00. Cable One disclosed cash of ~$166.2M and total gross debt of ~$3,058.4M (net debt ~$2,892.2M). The company said it is considering not consummating the MBI Term Loan Exchange Offer and instead, upon closing the acquisition of the remaining MBI equity interests, leaving MBI’s senior secured term loans in place without providing new credit support.

Key Details

• Q2 2026 preliminary revenue: $346.0M to $352.0M; preliminary capex: $72.0M to $76.0M.
• Residential data: estimated net losses ~16,000–18,000 subscribers; ARPU $80.00–$81.00.
• Balance sheet (June 30, 2026, preliminary): cash ~$166.2M; secured term loan + revolver borrowings ~$2,207.8M; unsecured bonds (2028 & 2030) ~$847.6M; gross debt ~$3,058.4M; gross debt less cash ~$2,892.2M.
• MBI update: Cable One may decline to complete the MBI Term Loan Exchange Offer and, after acquiring remaining MBI equity, leave MBI’s term loans in place without new credit support from Cable One or its subsidiaries.

Why It Matters These preliminary numbers give investors an early look at revenue, spending and subscriber trends ahead of final Q2 results. Subscriber losses and a lower Adjusted EBITDA versus Q1 signal ongoing pressure on organic growth; sizeable capex reflects continued network investment. The high gross/net debt levels are notable for shareholders and bondholders given the company’s leverage. The MBI loan decision could affect Cable One’s future credit exposure and integration costs—investors should watch for the final Q2 financials and any definitive decisions about the MBI transaction. Note these are preliminary estimates (not audited) and subject to change upon completion of closing procedures.