Earnings Review and Free Research Report: Sirius Reported Record Revenues; EPS Soared 49%

Research Desk Line-up: Pandora Media Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 13, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Sirius XM Holdings Inc. (NASDAQ: SIRI) ("Sirius"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SIRI, following the Company's release of its third quarter fiscal 2017 operating results on October 25, 2017. The satellite radio Company posted its best-ever quarter results for adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) and its corresponding margin, and also raised its full-year guidance for revenue, adjusted EBITDA, and free cash flow. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Broadcasting - Radio industry. Pro-TD has currently selected Pandora Media, Inc. (NYSE: P) for due-diligence and potential coverage as the Company announced on November 02, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Pandora Media when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SIRI; also brushing on P. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

Sirius reported record revenues of $1.38 billion, up 8% versus $1.28 billion in Q3 2016. The growth was driven by a 4% increase in subscribers and a 3% increase in average revenue per user (ARPU) to $13.41, a record high. The Company's revenue numbers topped analysts' estimates of $1.36 billion.

During Q3 2017, Sirius' EBITDA reached a record $551 million, up 12% from $492 million in Q3 2016. The Company's adjusted EBITDA margin was, again, an all-time high of 39.9% in the reported quarter, a 150-basis point increase from 38.4% in the prior year's same quarter.

For Q3 2017, Sirius' net income totaled $276 million, up 42% from $194 million in Q3 2016. The Company's net income per diluted common share grew 49% to $0.06 in the reported quarter versus $0.04 in the prior year's comparable quarter. Sirius' earnings numbers beat Wall Street's estimates of $0.04 per share.

Operating Results

Sirius added 311,000 net new self-pay subscribers in Q3 2017 to end the period with approximately 27 million self-pay subscribers. The Company's total net additions were 119,000 in the reported quarter, after giving effect to the decline of approximately 191,000 paid promotional subscribers. The decline in paid promotional net additions was due to paid promotional subscription ends out-pacing paid promotional subscription starts, as a result of lower shipments from automakers offering paid promotional subscriptions. Sirius ended Q3 2017 with approximately 32.2 million total subscribers, and a total funnel of trial subscribers of approximately 8.9 million.

Cash Matters

During Q3 2017, Sirius' operating cash flow surged 24% to $521 million compared to $422 million in Q3 2016. The Company's free cash flow grew 22% to a record $434 million in the reported quarter compared to $357 million in the prior year's corresponding quarter.

In 2017, on a YTD basis, Sirius has deployed approximately $2 billion to return capital to its stockholders and to make strategic investments. During Q3 2017, the Company spent $211 million to repurchase nearly 39 million shares of its common stock. Sirius also returned $46 million in cash to its stockholders in the form of dividends, bringing total capital returned to stockholders to $257 million in the reported quarter.

During Q3 2017, Sirius spent approximately $308 million to complete its investment in Pandora, and the Company's Board of Directors approved a 10% increase in quarterly dividend. At the end of Q3 2017, Sirius' debt to adjusted EBITDA was 3.3 times, and the Company had cash on hand of approximately $74 million, and an undrawn revolver capacity of nearly $1.5 billion.

2017 Guidance

Sirius increased it's 2017 guidance for revenue, adjusted EBITDA, and free cash flow, while its guidance for 2017 self-pay net subscriber additions remained unchanged. The Company is forecasting 2017 self-pay net subscriber additions of approximately 1.4 million; revenues of approximately $5.4 billion; adjusted EBITDA approaching $2.1 billion; and a free cash flow of approximately $1.54 billion.

Stock Performance

Sirius XM's share price finished last Friday's trading session at $5.34, slightly advancing 0.56%. A total volume of 18.67 million shares have exchanged hands, which was higher than the 3-month average volume of 16.00 million shares. The Company's stock price surged 11.72% in the past six months and 23.90% in the previous twelve months. Additionally, the stock rallied 20.00% since the start of the year. Shares of the Company have a PE ratio of 28.56 and have a dividend yield of 0.75%. The stock currently has a market cap of $24.40 billion.

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SOURCE: Pro-Trader Daily