Optimum Communications flags prior financials unreliable, plans restatement

Optimum Communications' audit committee flagged errors in deferred tax accounting, triggering non-reliance on prior financial statements. Restatements planned for the year ended Dec. 31, 2025, plus interim periods through June 30, 2026. Net losses expected to drop by about $430 million for 2025 periods, about $720 million for early 2026 periods. Cash balances, revenue, capex, cash flow, EBITDA, loss before income taxes expected to remain unchanged. Material weakness expected in income tax controls; prior ICFR assessments by management and KPMG no longer reliable.