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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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