Charter Targets $2 Billion in Expense Savings as Pro Forma Q3 Revenue Falls 1.5%
Charter Communications, Inc. unveiled a new operating model targeting $2 billion in annualized run-rate operating expense savings over the next 18 months, on top of more than $1 billion in planned Cox Transactions synergies, as it reported third-quarter 2026 results, according to an 8-K furnished Friday.
On a pro forma basis that treats the Aug. 19, 2026 Cox deal as closed since Jan. 1, 2024, third-quarter revenue was $16.5 billion, down 1.5% year over year, and Adjusted EBITDA was $6.6 billion, down 4.0%. Pro forma net loss attributable to Charter shareholders was $2.1 billion, compared with net income of $952 million a year earlier, driven primarily by a franchise impairment charge. Actual third-quarter revenue was $14.9 billion, up 9.1%, and actual Adjusted EBITDA was $5.9 billion, up 6.9%, both primarily reflecting Cox.
Customers and free cash flow
On a pro forma basis, Spectrum Mobile lines rose by 508,000 in the quarter to 13.5 million. Internet customers declined by 233,000 to 34.3 million. Actual free cash flow was $674 million, down $947 million from a year earlier.
CEO Chris Winfrey said Charter is redesigning how it operates to return to Internet customer growth after completing the Cox Transactions, which added more than 11 million passings and over 5 million customer relationships. Spectrum products launched across the legacy Cox footprint on Sept. 16, 2026.
By the numbers
- Pro forma Q3 revenue: $16.5 billion, down 1.5%
- Pro forma Q3 Adjusted EBITDA: $6.6 billion, down 4.0%
- Actual Q3 revenue: $14.9 billion, up 9.1%
- Targeted annualized expense savings: $2 billion over 18 months
- Pro forma mobile net adds: 508,000
Sources
- Charter Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Nov. 6, 2026 (accession 0001091667-26-000072)
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