Liberty Capital reports Q3 2026 results

Item 2.02. Results of Operations and Financial Condition.

On November 5, 2026, Liberty Capital Corporation (the "Company") issued a press release (the "Earnings Release") setting forth information, including financial information, which is intended to supplement the financial statements and related Management's Discussion and Analysis of Financial Condition and Results of Operations contained in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, filed with the Securities and Exchange Commission (the "SEC") on November 5, 2026.¹

This Item 2.02 and the Earnings Release attached hereto as Exhibit 99.1, insofar as they disclose historical information regarding the Company's results of operations or financial condition for the quarter ended September 30, 2026, are being furnished to the SEC.²

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1³

Earnings Release, dated November 5, 2026.³

104³

Cover Page Interactive Data File³ (formatted as Inline XBRL and contained in Exhibit 101)

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 5, 2026

LIBERTY CAPITAL CORPORATION

By:

/s/ Wade Haufschild

Name: Wade Haufschild

Title: Senior Vice President

3

LIBERTY CAPITAL REPORTS THIRD QUARTER 2026 FINANCIAL AND OPERATING RESULTS

Englewood, Colorado, November 5, 2026 – Liberty Capital Corporation ("Liberty Capital") (Nasdaq: GLIBA, GLIBK) today reported third quarter 2026 results.

Headlines include (1) :

● GCI expects to close the Quintillion acquisition shortly

● Liberty Capital declared a quarterly dividend of $0.375 per share of GCI Group common stock

● Liberty Capital announces a $100 million inaugural share buyback authorization program

"We continue to execute against our priorities at GCI and reported a solid quarter that reflects the strength and unmatched reach of our network infrastructure. We expect to close Quintillion soon," said Ron Duncan, Liberty Capital CEO. "We also declared our first ever quarterly dividend of $0.375 per common share, commencing in December as well as an inaugural $100 million buyback authorization program. These capital allocation initiatives reflect our confidence in the ongoing cash generating power of the business while also preserving our balance sheet capacity for future growth investments."

Corporate Updates

On October 28, 2026, GCI amended its credit agreement, adding a $270 million incremental senior secured Term A-3 loan facility maturing on October 28, 2031⁸, which followed a $30 million increase to its revolving credit facility to $480 million on October 16, 2026. Proceeds from the Term A-3 loan, together with revolver borrowings, were used on October 28, 2026 to fund the full retirement of all outstanding principal amount of GCI's 4.750% Senior Notes due 2028⁹ at a 1 redemption price of 100% of principal plus accrued and unpaid interest. As a result of the retirement, GCI's earliest maturity was extended to 2030.

Today, Liberty Capital announces that its Board of Directors declared a dividend of $0.375 per share of GCI Group common stock, payable on December 15, 2026 to holders of record at the close of business on November 30, 2026.⁶ All future dividends remain within the discretion of the Board of Directors (or an authorized committee thereof), and the dividend policy may be modified, suspended or terminated at any time.

Today, Liberty Capital announces that its Board of Directors authorized a new share repurchase program, under which Liberty Capital may repurchase up to $100 million of its GCI Group common stock.⁷ Repurchases may be made from time to time through open market transactions, privately negotiated transactions or other means. The timing and amount of any future repurchases will be determined based on market conditions, trading price and other factors and the program may be suspended or discontinued at any time.

2

Discussion of Results

The following table provides the financial results of Liberty Capital for the three and nine months ended September 30, 2025 and September 30, 2026.

Three months ended

Nine months ended

September 30,

September 30, (amounts in millions)

2025

2026

% Change

2025

2026

% Change

Consolidated Financial Metrics

Revenue

Consumer

$

115

$

118

3

%

$

355

$

350

(1)

%

Business

142

149

5

%

429

434

1

%

Total revenue

$

257

$

267

4

%

$

784

$

784

—

%

Operating expenses (exclusive of depreciation and amortization):

Consumer direct costs

(32)

$

(33)

(3)

%

(103)

$

(98)

5

%

Business direct costs

(31)

(32)

(3)

%

(83)

(99)

(19)

%

Technology expense

(68)

(71)

(4)

%

(198)

(208)

(5)

%

Total operating expenses (exclusive of depreciation and amortization)

(131)

$

(136)

(4)

%

(384)

$

(405)

(5)

%

Selling, general and administrative expense (exclusive of stock-based compensation)

(34)

(30)

12

%

(87)

(89)

(2)

%

Adjusted OIBDA (a) $

92

$

101

10

%

$

313

$

290

(7)

%

Adjusted OIBDA margin (a) (%)

35.8%

37.8%

200 bps

39.9%

37.0%

(290) bps

Stock-based compensation

(2)

(6)

(200)

%

(9)

(21)

(133)

%

Depreciation and amortization

(53)

(58)

(9)

%

(158)

(166)

(5)

%

Impairment of goodwill and intangible assets

(525)

—

NM

(525)

—

NM

Acquisition costs

—

(1)

NM

—

(8)

NM

Operating income (loss)

$

(488)

$

36

NM

$

(379)

$

95

NM

Operating income margin (%)

(189.9%)

13.5%

NM

(48.3%)

12.1%

NM

Capital expenditures, net of grant proceeds

$

(52)

$

(77)

(48)

%

$

(152)

$

(202)

(33)

%

(a) See reconciling schedule 1.

GCI revenue increased 4% in the third quarter of 2026. Consumer revenue increased 3%, driven by growth in wireless revenue. Business revenue increased 5%, driven by growth in data revenue.

GCI revenue was flat for the nine months ended September 30, 2026. Consumer revenue declined 1% due to fully exiting the video business in 2025, partially offset by growth in wireless revenue. Business revenue increased 1% driven by an increase in data revenue.

Operating income was $36 million and Adjusted OIBDA increased $9 million to $101 million in the third quarter driven by increased revenue. Operating income was $95 million and Adjusted OIBDA declined $23 million to $290 million for