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Sep 30, 2022
Frontier Communications Q3 2022 Earnings Report
Frontier delivered record operational results and raised cost saving target.
Key Takeaways
Frontier Communications reported consolidated revenue of $1.44 billion and a net income of $120 million for Q3 2022. The company built fiber to a record 351,000 locations and added a record 66,000 fiber broadband customers. They also nearly achieved their $250 million gross annual cost savings target more than one year ahead of plan, enabling them to raise their target to $400 million by the end of 2024.
Built fiber to a record 351,000 locations, reaching a total of 4.8 million fiber locations.
Added a record 66,000 fiber broadband customers, a 15.8% increase compared to Q3 2021.
Revenue was reported at $1.44 billion, with a net income of $120 million.
The company is raising its cost savings target to $400 million by the end of 2024.
Frontier Communications
Frontier Communications
Frontier Communications Revenue by Segment
Revenue by Segment
Consumer Revenue
CapyFin.com Forward Guidance
Frontier reaffirmed its operational and financial guidance expectations for 2022.
Positive Outlook
- Adjusted EBITDA of $2.05 - $2.15 billion
- Fiber build of 1.1 - 1.2 million new locations
- Cash capital expenditures of $2.50 - $2.60 billion
- Cash taxes of approximately $20 million
- Net cash interest payments of approximately $485 million