Sirius XM Holdings Inc

SIRI: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$89.00	Vqjncgp	Sskypjtdzn

Sirius XM Earnings: Cost Savings Are Shining Through, but Top-Line Struggles Continue

Matthew Dolgin

Aug 1, 2024

While Sirius XM has made progress with cost efficiencies, it continues to struggle with sales and retaining subscribers at its core SiriusXM business. The firm is pursuing several initiatives that we think hold promise, but we don’t expect these to be near-term solutions to a declining customer base, and we expect Sirius to face a tough competitive environment. We are maintaining our $5 fair value estimate.

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