SiriusXM Investor Relations News

Discussion in 'News & Announcements' started by SIRIUSaboutXM, Jan 7, 2014.

  1. SIRIUSaboutXM

    SIRIUSaboutXM DRC Special Contributor

    SiriusXM Exceeds 2013 Net Subscriber Target; Issues 2014 Subscriber And Free Cash Flow Guidance

    [​IMG]

    NEW YORK, Jan. 7, 2014 /PRNewswire/ -- SiriusXM today announced that it ended 2013 with 25.56 million subscribers, reporting 1.66 million net subscriber additions in the year, exceeding the company's recently raised guidance of 1.6 million net additions. Self-pay net additions in 2013 were 1.5 million for the full year, bringing self-pay subscriptions to over 21 million.

    "SiriusXM had an outstanding 2013, and we expect to meet or exceed all other guidance we have provided for the year. Automotive distribution is hitting on all cylinders and an increasing number of households, at all income levels, are subscribing to SiriusXM. In a world where consumers have many choices, millions of subscribers continue to love our unmatched and easily affordable lineup of exclusive talk, live news, major sports events, and commercial free and curated music channels," said Jim Meyer, SiriusXM's Chief Executive Officer.

    "Our strong history of growth will continue in 2014, as we invest in new products and technologies, like our connected vehicle services business. Adjusted EBITDA growth will continue to exceed 20%, and free cash flow per share will grow even faster. We look forward to building on our progress and delivering enhanced value to our shareholders," added Meyer.

    The company also issued 2014 subscriber and free cash flow guidance and reiterated its 2014 revenue and adjusted EBITDA guidance of:

    > Net subscriber additions of 1.25 million

    > Free cash flow approaching $1.1 billion

    > Revenue of over $4.0 billion

    > Adjusted EBITDA of approximately $1.38 billion

    "With our leverage at year end under 3.5x adjusted EBITDA and our interest coverage at more than 5x, the company is very conservatively capitalized. Our stable subscriber base and growing profitability allows us to raise our target leverage ratio to 4x adjusted EBITDA, providing increased flexibility for capital returns to stockholders and acquisition opportunities," added David Frear, SiriusXM's Chief Financial Officer.
  2. HecticArt

    HecticArt Administrator

    Good news indeed.
  3. SIRIUSaboutXM

    SIRIUSaboutXM DRC Special Contributor

    SiriusXM Reports Fourth Quarter and Full-Year 2013 Results

    - 2013 Record Revenue of $3.8 Billion, Up 12%
    - Net Income of $377 Million in 2013
    - Adjusted EBITDA Climbs 27% in 2013 to $1.17 Billion
    - 2013 Free Cash Flow of $927 Million, Up 31%
    - Fourth Quarter Revenue Exceeds $1 Billion, Adjusted EBITDA Climbs 41%

    NEW YORK, Feb. 4, 2014 /PRNewswire/ -- SiriusXM today announced fourth quarter and full-year 2013 financial and operating results, including record revenue of $1.0 billion and $3.8 billion in the fourth quarter and full-year, respectively, each up 12%. Net income for the fourth quarter and full-year were $65 million and $377 million, respectively, or $0.01 and $0.06 per diluted common share, respectively.

    Income from operations was $245 million and $1.0 billion in the fourth quarter and full-year 2013, respectively. Adjusted EBITDA increased 41% in the fourth quarter to a record $326 million. Full-year 2013 adjusted EBITDA was $1.17 billion, an increase of 27% from $920 million in 2012.

    "The fourth quarter of 2013 capped a year of records and milestones for SiriusXM. We delivered our first ever billion dollar revenue quarter, and our first ever quarter with adjusted EBITDA and free cash flow each over $300 million. Our adjusted EBITDA margin of 32.5% in the fourth quarter was the highest in the history of the Company. We remain excited about continuing our track record of delivering profitable growth in 2014, with the goal of enhancing free cash flow while making investments in key long-term initiatives," noted Jim Meyer, Chief Executive Officer, SiriusXM.

    FOURTH QUARTER 2013 HIGHLIGHTS:

    Dramatic expansion in adjusted EBITDA. Adjusted EBITDA climbed by 41% year-over-year in the fourth quarter to a single quarter high of $326 million. Adjusted EBITDA margin reached a record high of 32.5% in the quarter.
    Subscriber acquisition costs decline. Total subscriber acquisition costs were $124 million in the fourth quarter, or just 12% of adjusted revenue, the lowest percentage in the Company's history. The improvement in SAC was driven by lower subsidy rates per vehicle. SAC per gross addition was $44, a record low, a decline of 19% versus the fourth quarter of 2012.
    All-time high self-pay subscribers. Self-pay subscriber net additions were 411,484 in the fourth quarter, resulting in an all-time high self-pay subscriber base of 21.1 million at year end, up 8% year-over-year. Paid promotional subscribers declined from the third quarter by 434,240 as a major OEM shifted to unpaid trials during the period, resulting in the one-time decline.

    FULL-YEAR 2013 HIGHLIGHTS:

    Continued subscriber growth. Total net subscriber additions for the full-year were 1,658,974, taking total paid subscribers to 25.6 million at year-end, up 7% from 23.9 million subscribers at year-end 2012.
    Adjusted EBITDA reaches new record high. Adjusted EBITDA grew by 27% to a record high of $1.17 billion. The growth in adjusted EBITDA was attributable to a 12% increase in revenue, while cash operating expenses were held to a 6% increase.
    Free cash flow rises 31%. Free cash flow grew to $927 million in 2013, a 31% rise from $709 million in 2012. Free cash flow per diluted common share grew by 41% to $0.15 in 2013 from $0.10 in 2012 as the Company reduced its shares outstanding through its common stock repurchase program.
    "During the fourth quarter, we completed the first $160 million of the $500 million of share repurchases from Liberty Media, bringing our total 2013 share repurchases to 520 million shares for $1.76 billion, leaving over $2.2 billion remaining under our current authorization," said David Frear, Chief Financial Officer, SiriusXM.

    "Our debt to adjusted EBITDA was just 3.1 times at the end of 2013, including $500 million of deep in-the-money convertible notes. With our recently raised leverage target of 4.0 times and our free cash flow guidance, SiriusXM has $3.5 billion of capacity to pursue capital returns and acquisitions," added Frear.

    2014 GUIDANCE

    The Company's existing 2014 guidance was reiterated:
    Revenue of over $4 billion,
    Net subscriber additions of approximately 1.25 million,
    Adjusted EBITDA of approximately $1.38 billion, and
    Free cash flow approaching $1.1 billion.
    FOURTH QUARTER AND FULL-YEAR 2013 RESULTS

    SIRIUS XM HOLDINGS INC. AND SUBSIDIARIES

    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME


    Full Reprt here: SiriusXM Reports Fourth Quarter and Full-Year 2013 Results - SiriusXM Radio
  4. HecticArt

    HecticArt Administrator

    More good news. Time to stop raising rates now.
  5. IndustrialH

    IndustrialH "Who turned the volume down?"

    Last edited by a moderator: May 24, 2016
  6. HecticArt

    HecticArt Administrator

  7. IndustrialH

    IndustrialH "Who turned the volume down?"

  8. HecticArt

    HecticArt Administrator

    Is that any better?
  9. IndustrialH

    IndustrialH "Who turned the volume down?"

    Thanks :)
    HecticArt likes this.
  10. IndustrialH

    IndustrialH "Who turned the volume down?"

    Oops....

    Notice of Sirius XM Canada Inc.
    Ottawa, 31 May 2016

    NOTICE OF VIOLATION
    File No.: PDR 9174-1536

    To: Sirius XM Canada Inc.

    Address:
    135 Liberty Suite, Suite 400
    Toronto, Ontarioé
    M6K 1A7

    Issue Date of Notice: 31 May 2016

    Penalty: $650,000

    Full Details
  11. HecticArt

    HecticArt Administrator

    Oops oops....
  12. IndustrialH

    IndustrialH "Who turned the volume down?"

    SIRIUS’ MEYER SEES ‘ZERO IMPACT’ ON RADIO FROM STREAMING.

    Quote: “I only care that they listen. If they want to listen on their phones, their Sonos device, their car radio, through Bluetooth, it does not matter to me. What matters is that they listen and they pay, OK? To me, streaming is a transport, it is not competition. I think what’s so unique about our business model—and I’m sorry to be so passionate about this—it is not going to be either/or, in my opinion, forever. Look at all the new technology that has come into the car in the last 20 years, and yet 200 million people still listen to terrestrial radio every day. This stuff will coexist.” unquote​
  13. HecticArt

    HecticArt Administrator

    Nice. It's nice to see that they are so open to all of the options for delivery.
    They need to make sure that do a better job of making sure that the delivery systems are solid. The apps can be buggy.
  14. IndustrialH

    IndustrialH "Who turned the volume down?"

  15. HecticArt

    HecticArt Administrator

    No too bad.
    Compared to pre-merger.....
  16. greenearth

    greenearth Active Member

    Wow.....
    HecticArt likes this.
  17. HecticArt

    HecticArt Administrator

    I know, right?
    I should have bought a bunch of SXM stock when it was so cheap.
    It wouldn't have been much of a risk.
  18. greenearth

    greenearth Active Member

  19. scotchandcigar

    scotchandcigar arrogant bastard

    What happened to that guy who appeared out of nowhere about 6 months ago to boast that he made a million from Sirius stock, then he disappeared?
  20. HecticArt

    HecticArt Administrator

    There was some guy that was full of hot air that was starting some crap because we weren't pestering SXM to get in touch with their CEO's (or something goofy like that.) He got all pissed off at us and hot hostile. I think he was digging for insider information. He got banned because he was name-calling and trying to pick fights, if I have the right guy.
    There have been a couple like that, that have only lasted a few posts because they couldn't keep their cool.

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