shulz Over the past few months, one company that has become one of my favorites is Uniti Group (NASDAQ:UNIT). I've long been interested in the company, especially because of all of the drama centered around it. But it wasn't until management announced that the company would be merging back with Windstream (technically a successor to the original Windstream since the previous Windstream was pushed into bankruptcy) that I finally pulled the trigger on it. In addition to having a sizable chunk of my 401(k) inv ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________________________________ FORM 10-Q _______________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |----------------------------- ...

: Uniti | --- | --- | --- | --- | --- | |-------|-------|-------|---------------------------------------|-------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Second Quarter 2024 Financial Results | | | | | | | | | | | | Conference Call Presentation | | | | | | | | | | | | August 1, 2024 | | | | | | | | | | | | | | | | | | | Together, Building the Future | Cautionary Statement No Offer or Solicitation This communication and the information contained in it are provided for ...

Financial Data and Key Metrics Changes - Uniti reported consolidated revenues of $295 million and adjusted EBITDA of $237 million for Q2 2024, with AFFO attributed to common shareholders at $92 million and AFFO per diluted common share at $0.34 [11][12] - The core recurring strategic fiber business grew by 3% in Q2 2024, with enterprise, wholesale, and dark fiber revenues increasing by 12%, 15%, and 18% respectively [6][11] - The net capital intensity during the quarter was 31%, down from 44% in the same prior year period, indicating improved capital efficiency [8][11] Business Line Data and Key Metrics Changes - Uniti Leasing reported segment revenues of $218 million and adjusted EBITDA of $211 million, achieving an adjusted EBITDA margin of 97% [12] - Uniti Fiber generated revenues of $77 million and adjusted EBITDA of $31 million, with margins around 40%, both higher than expected due to one-time non-recurring revenue items [14] Market Data and Key Metrics Changes - Demand from hyperscalers, driven by generative AI, represented approximately 40% of the quarter's bookings, indicating strong market interest [7] - The amount of bookings related to fiber-to-the-home carriers increased threefold in 2023 compared to 2022, with expectations for similar growth in 2024 [8] Company Strategy and Development Direction - Uniti aims to be a pure-play fiber provider in Tier 2 and 3 metro markets, focusing on building fiber first in less competitive areas to secure long-term market advantages [6][20] - The company is preparing for a merger with Windstream, which is expected to create a national fiber powerhouse, enhancing its market reach and operational capabilities [19][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained demand from hyperscalers and the overall growth of broadband, particularly in less stressed power and distribution grid markets [31][33] - The company anticipates achieving free cash flow positivity by 2026, supported by a fully funded business plan and ongoing operational efficiencies [40][41] Other Important Information - Uniti's leverage ratio at quarter-end was 5.97 times based on net debt to annualized adjusted EBITDA [18] - The company has approximately $619 million in combined unrestricted cash and cash equivalents and undrawn revolver capacity [17] Q&A Session Summary Question: What is the expected cadence of deals going forward? - Management indicated that while million-dollar-plus quarters may not be expected sequentially, solid bookings are anticipated to continue, particularly from hyperscaler deals [30][31] Question: What are the key takeaways from the merger filing? - Management highlighted the importance of pro forma financials and strategic background information in the merger filing, emphasizing the intrinsic value of the combined assets [36][37] Question: Will there be any builds for BEAD within Uniti Fiber in 2025? - Management clarified that current discussions regarding BEAD are focused on Kinetic, with potential opportunities for expansion post-merger [43][44]

Uniti Group (UNIT) reported $294.95 million in revenue for the quarter ended June 2024, representing a yearover-year increase of 4%. EPS of $0.34 for the same period compares to $0.11 a year ago. The reported revenue represents a surprise of +1.92% over the Zacks Consensus Estimate of $289.4 million. With the consensus EPS estimate being $0.36, the EPS surprise was -5.56%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine t ...

Uniti Group (UNIT) came out with quarterly funds from operations (FFO) of $0.34 per share, missing the Zacks Consensus Estimate of $0.36 per share. This compares to FFO of $0.34 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of -5.56%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.35 per share when it actually produced FFO of $0.32, delivering a surprise of -8.57%. Over the last four quar ...

Exhibit 99.1 Press Release Release date: August 1, 2024 Uniti Group Inc. Reports Second Quarter 2024 Results Second Quarter Consolidated Bookings Monthly Recurring Revenue of $1.1 Million Increased Approximately 50% From Prior Year Updates 2024 Outlook · Net Income of $18.3 Million for the Second Quarter · Net Income of $0.07 Per Diluted Common Share for the Second Quarter · AFFO of $0.34 Per Diluted Common Share for the Second Quarter LITTLE ROCK, Ark., August 1, 2024 (GLOBE NEWSWIRE) – Uniti Group Inc. (" ...

Second Quarter Consolidated Bookings Monthly Recurring Revenue of $1.1 Million Increased Approximately 50% From Prior Year Updates 2024 Outlook Net Income of $18.3 Million for the Second Quarter Net Income of $0.07 Per Diluted Common Share for the Second Quarter AFFO of $0.34 Per Diluted Common Share for the Second Quarter LITTLE ROCK, Ark., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Uniti Group Inc. ("Uniti" or the "Company") (Nasdaq: UNIT) today announced its results for the second quarter 2024. "Uniti reported an ...

LITTLE ROCK, Ark., July 30, 2024 (GLOBE NEWSWIRE) -- Uniti Group Inc. ("Uniti") (Nasdaq: UNIT) announced today that its President and Chief Executive Officer, Kenny Gunderman, is scheduled to present at the TD Cowen 10th Annual Communications Infrastructure Summit. The presentation is scheduled for 2:55 PM MDT / 4:55 PM EDT on August 13, 2024 in Boulder, CO. You may access a live webcast of the event on Uniti's Investor Relations website at investor.uniti.com. The webcast will be available for replay for a ...

You may access a live webcast of the event on Uniti's Investor Relations website at investor.uniti.com. The webcast will be available for replay for a limited time following the presentation. Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of March 31, 2024, Uniti owns approximately 141,000 fiber route ...