DISH NETWORK Reports Second Quarter Earnings Results for FY2023
August 21, 2023
🌥️Earnings Overview
On August 8 2023, DISH NETWORK ($NASDAQ:DISH) reported its financial results for the second quarter of the FY2023 (ending June 30 2023). Total revenue for the quarter was USD 3911.6 million, representing a 7.1% decrease from Q2 of FY2022. Net income for the quarter was USD 200.3 million, a 61.7% decrease from the corresponding period last year.
Stock Price
The stock opened at $7.6 and closed at $8.4, representing an increase of 9.6% from the prior closing price of 7.6. The company’s success was attributed to its focus on improving customer experience and expanding its commercial customer base. Furthermore, its Dish TV and SlingTV streaming video services have continued to perform strongly and remain popular choices for consumers. Overall, DISH NETWORK’s second quarter results for fiscal year 2023 demonstrate the company’s strong financial performance and outlook for continued growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dish Network. More…
| Total Revenues | Net Income | Net Margin |
| 16.01k | 1.77k | 6.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dish Network. More…
| Operations | Investing | Financing |
| 2.98k | -4.72k | 109.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dish Network. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 53.69k | 34.77k | 34.49 |
Key Ratios Snapshot
Some of the financial key ratios for Dish Network are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.7% | -14.5% | 15.3% |
| FCF Margin | ROE | ROA |
| -6.9% | 8.4% | 2.8% |
Analysis
At GoodWhale, we recently conducted an analysis to determine DISH NETWORK‘s wellbeing. Our findings, based on the Star Chart, show DISH NETWORK has an intermediate health score of 6/10 with regard to its cashflows and debt. This rating suggests they are likely to be able to pay off debt and fund future operations. In terms of the individual metrics, DISH NETWORK is strong in return on invested capital (ROIC) and medium in profitability (ROE) and weak in asset turnover, dividend yield, and growth rate. This indicates that the company has achieved revenue or earnings growth slower than the overall economy, earning them the classification of ‘sloth’ We believe that investors looking for a low risk option with some potential for capital appreciation may be interested in DISH NETWORK. This is because it provides a secure income stream with some potential for appreciation. Additionally, it may be attractive to those looking for a portfolio diversifier, due to its less volatile stock price. More…
Peers
The company offers a variety of channels and packages for its customers. DISH Network Corp competes with other pay-TV providers such as Verizon Communications Inc, T-Mobile US Inc, AT&T Inc.
– Verizon Communications Inc ($NYSE:VZ)
Verizon Communications Inc. is an American multinational telecommunications conglomerate and a corporate component of the Dow Jones Industrial Average. The company is based at 1095 Avenue of the Americas in Midtown Manhattan, New York City, but is incorporated in Delaware.
As of 2022, Verizon has a market cap of 156.19 billion dollars and a return on equity of 20.79%. The company provides communications and entertainment services to consumers, businesses, and government agencies. Its consumer services include wireless voice and data plans, broadband internet, FiOS TV, and telephone services. Verizon’s business services include networking, data storage, and security solutions, as well as professional and managed services. The company also owns and operates Verizon Media, which consists of Oath Inc. (formerly AOL Inc.) and Yahoo! Inc.
– T-Mobile US Inc ($NASDAQ:TMUS)
T-Mobile US Inc is a leading wireless communications provider in the United States. The company has a market capitalization of 186.35 billion as of 2022 and a return on equity of 4.31%. T-Mobile US Inc provides wireless voice, messaging, and data services to consumers and businesses in the United States. The company offers a variety of wireless plans and devices, including smartphones, tablets, and other mobile devices. T-Mobile US Inc also provides wireless broadband services, including home Internet and mobile hotspot services. In addition, the company offers a variety of value-added services, such as device protection, international calling, and data roaming.
– AT&T Inc ($NYSE:T)
AT&T Inc. is an American multinational conglomerate holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. AT&T Inc. has a market cap of 130.85B as of 2022 and a Return on Equity of 17.05%. The company is the world’s largest provider of pay TV, with 130.4 million subscribers as of the end of 2016. It also provides communications and data services to businesses and consumers in more than 150 countries. AT&T is the second-largest provider of mobile telephone services and the largest provider of fixed telephone services in the United States.
Summary
Investors in DISH Network should keep a close eye on the company’s second quarter results for fiscal year 2023, which were reported on August 8. Total revenue for the quarter was USD 3911.6 million, down 7.1% year-over-year, while net income fell 61.7%. Despite these declines, the stock price of DISH Network moved up on the day of announcement, indicating investor confidence in the direction of the company. Going forward, investors should continue to monitor the company’s performance and be cognizant of any potential risks associated with the industry.
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