Loading...
•
Dec 31, 2023
Frontier Communications Q4 2023 Earnings Report
Frontier delivered solid financial performance driven by strong growth in consumer fiber broadband and strategic execution.
Key Takeaways
Frontier Communications reported Q4 2023 results, with revenue of $1.43 billion and net income of $17 million. The company achieved its first full year of EBITDA growth in more than a decade, driven by strong consumer fiber broadband revenue growth. Frontier is guiding to accelerated mid-single-digit Adjusted EBITDA growth in 2024.
Consumer fiber broadband revenue increased by more than 25%, driven by customer and ARPU growth.
Frontier reached a milestone of two million fiber broadband customers.
Adjusted EBITDA increased 4.0% year-over-year, driven by lower content expenses and cost savings.
Consumer fiber broadband customer churn decreased from 1.32% to 1.20%.
Revenue by Segment
Forward Guidance
Frontier provided guidance for full year 2024, including Adjusted EBITDA of $2.20 - $2.25 billion, new fiber passings of 1.3 million and cash capital investment of $3.00 - $3.20 billion.
Positive Outlook
- Adjusted EBITDA of $2.20 - $2.25 billion
- New fiber passings 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
Challenges Ahead
- Significant indebtedness
- Economic uncertainty and rising interest rates
- Inflationary pressures on costs
- Potential information technology or data security breaches
- Competition from other providers
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...