Optimum Communications Receives NYSE Delisting Warning as Stock Stays Below $1
Listing At Risk
Company Background
Optimum Communications (NYSE: OPTU), formerly Altice USA, is one of the largest cable and broadband operators in the United States, serving approximately 4.2 million residential and business customers across 21 states. The company renamed itself in November 2025, trading under the ticker OPTU since then. Annual revenue exceeded $8.6 billion in 2025.
Revenue has declined every quarter for years, and the pace has been accelerating. Total revenue fell 4.0% year-over-year in Q1 2026 and 5.8% year-over-year in Q2 2026, with residential revenue down 6.7% in Q2 alone. Broadband subscriber losses continued — 40,000 net losses in Q2 2026 — as competition from fiber overbuilders and fixed-wireless services intensifies. The company has lost more than 215,000 total customer relationships over the past five quarters.
The financial distress sits primarily at CSC Holdings, LLC, an indirect wholly-owned subsidiary that is the obligor on approximately $21.8 billion in funded debt. Optimum itself is not a guarantor of that debt, a distinction that has shaped the company's restructuring strategy over the past year. As of June 30, 2026, consolidated net debt for the full company stood at $25.333 billion.
What Was Disclosed
On August 13, 2026, the company received notice from NYSE that its Class A common stock was out of compliance with Section 802.01C of the NYSE Listed Company Manual, because the average closing price had been below $1.00 for 30 consecutive trading days. Under NYSE rules, the company has six months from the date of the notice — until February 13, 2027 — to regain compliance. Compliance is achieved if, on the last trading day of any calendar month during the cure period, the stock closes at or above $1.00 and its 30-trading-day average closing price also reaches or exceeds $1.00.