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Jun 30, 2022
Frontier Communications Q2 2022 Earnings Report
Frontier Communications reported Q2 2022 financial results, demonstrating sequential EBITDA growth and raised full-year guidance.
Key Takeaways
Frontier Communications reported Q2 2022 results with a revenue of $1.46 billion and a net income of $101 million. The company saw sequential EBITDA growth and added 54,000 fiber broadband customers. They also raised their full-year guidance.
Built fiber to a record 281,000 locations.
Added 54,000 fiber broadband customer net additions, resulting in fiber broadband customer growth of 13.4% compared with the second quarter of 2021.
Reported revenue of $1.46 billion and net income of $101 million.
Raised $1.20 billion of debt in May, contributing to liquidity of approximately $3.70 billion.
Revenue by Segment
Forward Guidance
Frontier increased its operational and financial guidance expectations for 2022.
Positive Outlook
- Adjusted EBITDA of $2.05 - $2.15 billion, an increase from prior guidance of $2.00 - $2.15 billion
- Fiber build of 1.1 - 1.2 million new locations, an increase from prior guidance of 1.0 million new locations
- Cash capital expenditures of $2.50 - $2.60 billion, an increase from prior guidance of $2.40 - $2.50 billion due to the accelerated fiber build
- Cash taxes of approximately $20 million, unchanged from prior guidance
- Cash pension and OPEB expense of approximately $75 million (net of capitalization), unchanged from prior guidance
Challenges Ahead
- Net cash interest payments of approximately $485 million, an increase from prior guidance of $430 million to reflect the $1.20 billion of debt raised in May
- Not enough information to provide 4 more negatives.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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