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Sep 30, 2021
Frontier Communications Q3 2021 Earnings Report
Frontier Communications reported record new fiber locations and fiber broadband customer growth.
Key Takeaways
Frontier Communications reported Q3 2021 results, delivering revenue of $1.58 billion and net income of $126 million. The company built fiber to a record 185,000 locations and added a record 29,000 new fiber broadband customers.
Built fiber to a record 185,000 locations in the third quarter, bringing total fiber passings to 3.8 million.
Added a record 29,000 new fiber broadband customers during the quarter.
Delivered third-quarter revenue of $1.58 billion and net income of $126 million.
Raised $1 billion of debt in October, contributing to liquidity of approximately $2.7 billion.
Frontier Communications
Frontier Communications
Frontier Communications Revenue by Segment
Forward Guidance
Frontier reaffirmed its operational and financial guidance expectations for 2021.
Positive Outlook
- Adjusted EBITDA of $2.40 - $2.50 billion
- Cash capital expenditures of approximately $1.8 billion
- Fiber build to at least 600,000 new locations in 2021
- Cash taxes of approximately $50 million
- Cash interest payments of approximately $365 million
Challenges Ahead
- Cash pension and OPEB of approximately $70 million (net of capitalization)