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Dec 31, 2023
Uniti Q4 2023 Earnings Report
Reported fourth quarter and full year 2023 results, balance sheet was strengthened by ABS bridge financing & asset sales, and initial 2024 outlook was provided.
Key Takeaways
Uniti Group Inc. reported consolidated revenues of $285.7 million for Q4 2023. Net income was $30.7 million, with Adjusted EBITDA at $231.1 million, achieving Adjusted EBITDA margins of approximately 81%. AFFO attributable to common shareholders was $91.6 million, or $0.34 per diluted common share.
Net Income of $30.7 million for the Fourth Quarter.
Net Income of $0.13 Per Diluted Common Share for the Fourth Quarter.
AFFO Per Diluted Common Share of $0.34 for the Fourth Quarter.
Consolidated revenues for the fourth quarter of 2023 were $285.7 million.
Forward Guidance
The Company’s consolidated outlook for 2024 includes the estimated impact from the recent ABS Facility, the planned exit of most one-time equipment sales, the recently completed asset sales, and the upcoming maturity of the remaining 4.00% exchangeable notes due June 2024.
Positive Outlook
- Full Year 2024 Revenue $1,154 to $1,174 million
- Net income attributable to common shareholders $108 to $128 million
- Adjusted EBITDA $930 to $950 million
- FFO $334 to $354 million
- AFFO $365 to $385 million
Challenges Ahead
- Interest expense, net $500 million
- Excludes future acquisitions
- Excludes capital market transactions
- Excludes future transaction-related costs
Historical Earnings Impact
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Avg. Return Before/After Earnings
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