- Uniti Group (UNIT -3.8%) is making up ground in after-hours trade, +2.6%, after a Q3 earnings report where it beat expectations on revenues and earnings though funds from operations fell shy.
- Net income was $4.8M, and adjusted EBITDA was $194.9M (missing an expected $196.2M).
- Adjusted funds from operations were $0.63/share vs. $0.64 expected. Revenues jumped in towers and fiber infrastructure, meanwhile, and overall grew 22.5% to beat consensus.
- Revenue breakout: Leasing, $171.7M (up 1.4%); Fiber infrastructure, $66.4M (up 163%); Towers, $2.8M (vs. year-ago $159,000); Consumer CLEC, $4.4M (down 20.3%).
- It updated guidance mainly to reflect delays in dark fiber construction and service order activations in the Southeast due to hurricanes, as well as delayed small cell deployments. At the midpoint, it sees 2017 adjusted FFO/share of $2.51 -- $2.58 before pre-funding capital market transactions -- vs. consensus for $2.53.
- It's forecasting revenues of $913M-$918M (vs. consensus for $916M); EBITDA of $748M-$753M (vs. expected $751.4M); a net loss of $37M to $30M (vs. expected loss of $31.9M) and adjusted FFO of $422M-$426M (light of expected $428.7M).
- Press Release
- Now read: Uniti - An Update On The Court Filings
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