Loading...
•
Mar 31, 2024
Uniti Q1 2024 Earnings Report
Reported solid start to 2024 with strategic fiber business growth and merger announcement with Windstream.
Key Takeaways
Uniti Group Inc. reported its Q1 2024 results, highlighting a net income of $41.3 million and growth in its core recurring strategic fiber business by 4%. The company also announced a merger with Windstream, expected to expand Uniti's network reach.
Net income for the first quarter was $41.3 million, or $0.16 per diluted common share.
AFFO per diluted common share was $0.32 for the first quarter.
Core recurring strategic fiber business grew 4% compared to Q1 2023.
Announced merger with Windstream to expand network reach to 1.5 million homes passed with next-gen fiber.
Uniti
Uniti
Uniti Revenue by Segment
Revenue by Segment
Uniti Leasing Revenue
CapyFin.comUniti Fiber Revenue
CapyFin.com Forward Guidance
The Company is updating its 2024 outlook primarily for business unit level revisions and transaction related and other costs incurred to date.
Positive Outlook
- Revenue between $1,154 million and $1,174 million.
- Net income attributable to common shareholders between $116 million and $136 million.
- Adjusted EBITDA between $930 million and $950 million.
- FFO attributable to common shareholders between $319 million and $339 million.
- AFFO attributable to common shareholders between $362 million and $382 million.
Challenges Ahead
- Outlook excludes any impact from the expected merger with Windstream.
- Outlook excludes future acquisitions.
- Outlook excludes capital market transactions.
- Outlook excludes future transaction-related and other costs not mentioned herein.
- Interest expense, net of $506 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income