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Mar 31, 2024
Frontier Communications Q1 2024 Earnings Report
Frontier Communications reported year-over-year revenue growth for the first quarter since 2015, and fiber broadband revenue growth was accelerated.
Key Takeaways
Frontier Communications reported a strong start to 2024, achieving year-over-year revenue growth for the first time since 2015. The company's focus on expanding its fiber business contributed to a 24% increase in fiber broadband revenue. Overall, Frontier's financial performance is systematically improving due to the growth of its fiber business.
Added 322,000 fiber passings, reaching 6.8 million total locations passed with fiber.
Increased revenue by 1.5% year-over-year to $1.46 billion.
Operating income was $90 million and net income was $1 million.
Adjusted EBITDA increased 5.4% year-over-year to $547 million, driven by revenue growth and cost savings.
Frontier Communications
Frontier Communications
Frontier Communications Revenue by Segment
Forward Guidance
Frontier reaffirmed all operational and financial expectations for 2024.
Positive Outlook
- Adjusted EBITDA of $2.20 - $2.25 billion
- Fiber passing additions of 1.3 million
- Cash capital investment of $3.00 - $3.20 billion
- Cash taxes of approximately $20 million
- Net cash interest payments of approximately $750 million