Sirius XM Holdings Inc. (NASDAQ:SIRI) released its first-quarter 2026 financial results Thursday morning. The satellite radio giant showcased resilient subscriber loyalty.
Revenue Beats While Earnings Face Slight Miss
The company reported quarterly sales of $2.091 billion. This figure surpassed the analyst consensus estimate of $2.070 billion. It also marked an increase over the $2.068 billion reported in the prior-year period.
On the bottom line, Sirius XM posted earnings of 63 cents per share. This missed the analyst consensus estimate of 67 cents. However, it represented a year-over-year increase from the 59 cents per share earned last year.
Profitability Surges
Net income rose 20% to $245 million. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 6% to reach $666 million. Free cash flow more than tripled year-over-year to $171 million.
SiriusXM Total Subscribers Of 33 Million
SiriusXM reported a decline of about 111,000 self-pay subscribers in the first quarter of 2026, an improvement of 192,000 from a year earlier, supported by growth in companion subscriptions and continued traction in automotive dealer plans.
Self-pay churn improved to roughly 1.5%, the lowest first-quarter level in company history. Total subscribers stood at about 33 million. Paid promotional subscriber losses narrowed year over year to 37,000, while the trial funnel edged up to 7.3 million at quarter’s end.
CEO Jennifer Witz On Strategic Partnerships
“We are off to a strong start in 2026, delivering growth in both revenue and profitability,” stated CEO Jennifer Witz.
Witz highlighted the company’s recent collaboration with a major video platform. “We also significantly enhanced our advertising capabilities through our landmark partnership with YouTube,” she said. Witz noted that subscriber satisfaction scores reached their highest levels since the study’s inception.
Guidance Reaffirmed And Capital Returns
Sirius XM reaffirmed its full-year 2026 financial outlook. The company expects total revenue of approximately $8.5 billion. It projects Adjusted EBITDA of $2.6 billion and free cash flow of $1.35 billion.
The company returned capital to shareholders during the quarter. This included $91 million in dividends and $22 million in share repurchases. Cash and cash equivalents stood at $75 million as of March 31.
SiriusXM Price Action
SIRI Stock Price Activity: Sirius XM Holdings shares were down 0.04% at $26.75 during premarket trading on Thursday, according to Benzinga Pro data.
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