--- title: "GCI LLC CL C | 8-K: FY2026 Q1 Revenue: USD 256 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285624519.md" datetime: "2026-05-07T21:32:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285624519.md) - [en](https://longbridge.com/en/news/285624519.md) - [zh-HK](https://longbridge.com/zh-HK/news/285624519.md) --- # GCI LLC CL C | 8-K: FY2026 Q1 Revenue: USD 256 M Revenue: As of FY2026 Q1, the actual value is USD 256 M. EPS: As of FY2026 Q1, the actual value is USD 0.45. EBIT: As of FY2026 Q1, the actual value is USD 34 M. ### Segment Revenue - **Total Revenue**: GCI Liberty’s total revenue for the first quarter of 2026 was $256 million, marking a 4% decrease from $266 million in the first quarter of 2025 . - **Consumer Revenue**: Decreased by 5% to $115 million in Q1 2026 from $121 million in Q1 2025, primarily due to fully exiting the video business in 2025 . - **Consumer Data Revenue**: $59 million in Q1 2026, a 3% decrease from $61 million in Q1 2025, driven by subscriber losses . - **Consumer Wireless Revenue**: Increased by 4% to $52 million in Q1 2026 from $50 million in Q1 2025, driven by an increase in wireless lines in service . - **Other Consumer Revenue**: $4 million in Q1 2026, a 60% decrease from $10 million in Q1 2025 . - **Business Revenue**: Decreased by 3% to $141 million in Q1 2026 from $145 million in Q1 2025, primarily due to a decline in data revenue . - **Business Data Revenue**: $124 million in Q1 2026, a 3% decrease from $128 million in Q1 2025 . - **Business Wireless Revenue**: Remained at $10 million in Q1 2026, unchanged from Q1 2025 . - **Other Business Revenue**: Remained at $7 million in Q1 2026, unchanged from Q1 2025 . ### Operational Costs - **Total Operating Expenses (exclusive of depreciation and amortization)**: Increased by 6% to $132 million in Q1 2026 from $125 million in Q1 2025 . - **Consumer Direct Costs**: Decreased by 11% to $32 million in Q1 2026 from $36 million in Q1 2025, due to lower video programming costs . - **Business Direct Costs**: Increased by 23% to $32 million in Q1 2026 from $26 million in Q1 2025, primarily due to higher distribution costs related to restored service on the Quintillion network . - **Technology Expense**: Increased by 8% to $68 million in Q1 2026 from $63 million in Q1 2025 . - **Selling, General and Administrative Expense (exclusive of stock-based compensation)**: Increased by 11% to $31 million in Q1 2026 from $28 million in Q1 2025, mainly due to $3 million in new public company costs . - **Stock-based Compensation**: Increased by 300% to $8 million in Q1 2026 from $2 million in Q1 2025, attributed to delayed grants and changes in grant timing . - **Depreciation and Amortization**: Decreased by 2% to $52 million in Q1 2026 from $53 million in Q1 2025 . - **Acquisition Costs**: Totaled $3 million in Q1 2026, compared to $0 million in Q1 2025 . ### Profitability Metrics - **Operating Income**: Decreased by 48% to $30 million in Q1 2026 from $58 million in Q1 2025 . - **Operating Income Margin**: 11.7% in Q1 2026, a decrease of 1,010 basis points from 21.8% in Q1 2025 . - **Adjusted OIBDA**: Decreased by 18% to $93 million in Q1 2026 from $113 million in Q1 2025, including $13 million of items not comparable to the prior year . - **Adjusted OIBDA Margin**: 36.3% in Q1 2026, a decrease of 620 basis points from 42.5% in Q1 2025 . - **Net Earnings**: $18 million in Q1 2026, compared to $35 million in Q1 2025 . ### Cash Flow - **Net Cash Provided by Operating Activities**: $78 million for the three months ended March 31, 2026, compared to $119 million for the same period in 2025 . - **Net Cash Provided by Operating Activities (Trailing Twelve Months)**: $329 million for the period ended March 31, 2026, an increase from $310 million for the period ended March 31, 2025 . - **Free Cash Flow (Trailing Twelve Months)**: $99 million for the period ended March 31, 2026, a decrease from $114 million for the period ended March 31, 2025 . ### Capital Expenditures - **Capital Expenditures, Net of Grant Proceeds**: Increased by 12% to $55 million in Q1 2026 from $49 million in Q1 2025 . - **Year-to-date Capital Expenditures, Net of Grant Proceeds**: Totaled $55 million for Q1 2026, primarily directed towards wireless and data networks in rural Alaska . ### Debt and Cash Position - **Cash, Cash Equivalents and Restricted Cash**: $448 million as of March 31, 2026, an increase of $19 million from $429 million as of December 31, 2025 . - **Total Debt**: $1,035 million as of March 31, 2026, compared to $1,043 million as of December 31, 2025 . - **Total Debt (GAAP)**: $981 million as of March 31, 2026, compared to $983 million as of December 31, 2025 . - **GCI Leverage**: 2.3x as of March 31, 2026, unchanged from December 31, 2025 . - **GCI Liberty Leverage**: 1.6x as of March 31, 2026, unchanged from December 31, 2025 . - **Undrawn Capacity on GCI’s Credit Facility**: $377 million (net of letters of credit) as of March 31, 2026 . ### Other Operational Metrics - **LLA Share Purchase**: In April 2026, GCI LIBERTY, INC. purchased approximately 61,000 shares of Liberty Latin America Ltd. (LLA) Class A common stock and 12.3 million shares of LLA Class C common stock for approximately $107 million in cash . These shares represent an approximate 6% equity ownership in Liberty Latin America Ltd. . - **Consumer Cable Modem Subscribers**: 150,500 as of Q1 2026, a 3% decrease year-over-year, with a loss of 700 subscribers during Q1 2026 . - **Consumer Wireless Lines in Service**: 200,000 as of Q1 2026, a 2% increase year-over-year, with 1,000 lines added during Q1 2026 . - **Business Wireless Lines in Service**: 7,700 as of Q1 2026, an 11% decrease year-over-year . ### Unique Metrics - **Acquisition of Quintillion**: GCI entered into a definitive agreement to acquire Quintillion for $310 million in cash, up to $50 million for capital expenditures, and potential earn-out payments . This transaction is expected to be accretive to free cash flow and provide cost efficiencies . - **GCI Infrastructure Investment**: GCI has invested $4.7 billion in its Alaska network and facilities over the past 47 years . - **Company Name Change**: GCI Liberty will change its name to Liberty Capital Corporation, with no changes to stock tickers . ### Outlook / Guidance GCI LIBERTY, INC. is in discussions with Dr. John C. Malone for a potential acquisition of his equity interests in Liberty Latin America Ltd. (LLA) in exchange for newly issued GCI LIBERTY, INC. Series C common stock . GCI’s net capital expenditures for 2026 are projected to be $290 million, including $20 million carried over from 2025, with a significant portion allocated to hybrid fiber-coaxial network improvements . 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